2013-08-15 22:44:04 -
NEW YORK, Aug. 15, 2013-Thomson Reuters has entered into an agreement with
Claims-X-Change to provide benefits administrators, insurers, brokers,
attorneys, and advisors with a web-based tool to perform nondiscrimination
testing of employer-sponsored benefit plans. The tool is accessible through
Thomson Reuters Checkpoint, the industry-leading and award-winning online
The IRS requires cafeteria plans, self-insured health plans (including health
flexible spending arrangements), and dependent care assistance programs to not
discriminate in favor of highly compensated or key employees. The plans must
pass annual tests on specified eligibility, benefits, and utilization
requirements. If these requirements are not met, highly compensated and other
key employees would face increased taxable income. Additionally, as part of the
Affordable Care Act, it is expected that nondiscrimination testing will be
required for fully-insured health plans.
"Performing nondiscrimination testing
with spreadsheets and manual calculations
is labor-intensive and potentially error-prone," said Jim Fegen, senior vice
president of product development, Tax & Accounting business of Thomson Reuters.
"Through our alliance with Claims-X-Change, we're now able to offer Checkpoint
subscribers an accurate, cost-effective, and automated way to conduct
nondiscrimination testing. This tool complements our existing guidance on
nondiscrimination testing, available under our EBIA brand."
Thomson Reuters agreement with Claims-X-Change offers Checkpoint subscribers:
* Direct access from the Tools tab within Checkpoint to quickly locate any
* The ability to set up multiple users at no additional cost, including an
unlimited number of employer log-ins to facilitate employer self-service.
* Targeted hyperlinks to related EBIA guidance on Checkpoint (with an EBIA
* Access to Microsoft Excel templates that make it easy to gather employer
data for testing in a consistent, usable format.
* Reports that can be attached to a client's file to help establish due
* Recommendations to resolve problems identified during testing.
* Ability to accurately and automatically identify highly compensated and key
* Ability to archive and retrieve historical input data and test reports for
audit and re-use purposes.
"Our alliance with Thomson Reuters delivers NDX -- the most comprehensive
nondiscrimination testing solution for employee benefit plans," said Sarinder
Chhabra, president and chief executive officer, Claims-X-Change LLC, which
offers solutions for benefit plan administration and provider payment
processing. "I'm pleased that Thomson Reuters selected Claims-X-Change to offer
state-of-the-art, automated, productivity tools. We look forward to reducing
compliance costs and offering additional revenue opportunities for customers."
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Ruth Ann Baker
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