bswift and HighRoads Partner to Deliver Employee Benefits Compliance Solution to Mid-Market Companies : bswift Press Release

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bswift and HighRoads Partner to Deliver Employee Benefits Compliance Solution to Mid-Market Companies

CHICAGO, IL — Tuesday, April 10th, 2012


bswift, a leader in software and services for employee benefits administration, announced today that it has partnered with HighRoads, the industry leader in SaaS-enabled (software as a service) employer health care compliance and benefits management. Together, the companies are automating the creation of and change management for required Summary of Benefits & Coverage (SBC) and Summary Plan Description (SPD) documents to assure compliance with the Employee Retirement Income Security Act (ERISA) and Affordable Care Act (ACA).

SBCs are newly mandated documents required by health care reform that provide consumers with a specific and concise summary of their plan benefits. SPDs are also a federally required summary of plan benefits that must be distributed to employees, retirees and beneficiaries. These documents are important and required materials for employees reviewing their benefits plans and making critical decisions on whether to change their coverage. The ACA and the Department of Labor hold employers of all sizes equally accountable for complying with SBC and SPD requirements.

“Our partnership with HighRoads now makes benefits administration, annual enrollment and compliance automation for mid-market companies available from a single vendor,” said Rich Gallun, CEO, bswift. “Companies of all sizes now have access to the same, proven compliance automation solution used by Fortune 500 companies. No longer do they need to fret over how they will become compliant with health care reform mandates.”

“The increased regulatory environment as a result of health care reform impacts small, midsize, and large employers equally,” said Michael Byers, CEO, HighRoads. “However, most smaller employers are out of compliance due to lack of resources. The HighRoads partnership with bswift now makes SBC and SPD compliance accessible and easy for small and mid-sized companies that may not have the in-house resources to develop the compliant materials that are required of them.”

With this new partnership, bswift will now offer HighRoads’ QuickSPD, ACA Compliance Portal and full SBC and SPD management solutions. HighRoads’ QuickSPD solution is an intuitive online service that quickly develops ERISA-compliant SPDs for small and midsize businesses. For more information, please visit: www.bswift.com.

About HighRoads The world’s leading employers choose HighRoads to gain complete control over their health care costs and compliance. With HighRoads’ SaaS-based solutions provide employers with complete benefits management capability, including benefits plan information and pricing, competitive benefits benchmarks, and complete benefits management. The privately-held company is headquartered in Woburn, MA. For more information, visit www.HighRoads.com.

About bswift
bswift is changing the world of benefits administration by combining deep expertise and a passion for technological innovation with a unique consumer-driven approach. Partnering with enterprises nationwide and serving millions of employees, bswift offers cloud-based technology and services for online enrollment, interactive decision support, ACA compliance reporting and employee engagement. bswift also provides access to consumerism, product and consulting solutions needed to build a benefits program specialized for both employers and employees alike. For more information about bswift, an Aetna company, visit www.bswift.com.

MEDIA CONTACT

Laura Field
312.961.5054
lfield@clearedgemarketing.com