FOR IMMEDIATE RELEASE
Automated ACA compliance tool bolsters Maestro Health’s “All-In” portfolio
June 30, 2015 9:00 AM Central Daylight Savings Time
CHICAGO—(BUSINESS WIRE)— Maestro Health, a leading benefits administration and exchange provider, today announced that they have acquired Group Associates, Inc., a Michigan-based benefit administration company. Group Associates, which recently unveiled its unique, automated Affordable Care Act reporting technology, will maintain its current Detroit location and leadership team. Their automated ACA compliance technology will immediately become an integral part of the “All-In” Maestro Health offering.
January 1, 2016 marks the first year employers are required to provide reports to the IRS and statements to employees as part of the Affordable Care Act legislation. The law, which carries a financial penalty for employers that do not comply, has extensive tracking and reporting requirements that many brokers and employers are struggling to successfully satisfy.
“Automated ACA reporting capability is a tremendous addition to Maestro Health, especially in light of the recent Supreme Court ruling that upheld ACA requirements, but the subject matter expertise and quality of the Group Associates team is where the heart of the value is,” said Rob Butler, CEO and Founder of Maestro Health. “I talk to brokers and employers every day, and they desperately need more than just the technology—they need the compliance and security expertise to help them successfully meet this pending obligation.”
Beginning in January of 2016, the new law requires large employers to transmit information in to the IRS using Form 1094-C and to distribute statements to employees and other individuals using Form 1095-C.
“Part of the current challenge facing employers is that most commercially available alternatives require the employer to be Affordable Care Act experts and provide the necessary coding. This just isn’t feasible for most employers—that’s where we come in,” said David Zick, President of Group Associates.
For over 30 years, Group Associates has been successfully providing benefits administration and compliance for employers. From that expertise, they have developed a stand-alone reporting solution with coding capabilities that not only collects the information, but can also solve the complicated coding necessary to be compliant.
“We see the employer market increasingly seeking more comprehensive, all-in-one type solutions featuring benefits administration, enrollment, private exchange and health management on one platform,” said Zick. “That is why we are thrilled to become part of the Maestro Health team and their ‘All-In’ solution.”
Zick, who will continue as President of Group Associates, has been in the employer sponsored healthcare business for over 35 years and founded Group Associates in 1986. “We have been seeking a partner for the past nine months and although the Maestro Health platform is the best we’ve come across, their customer-centric approach, keen focus on compliance and integrity of their team made our decision very easy,” added Zick.
About Maestro Health™
Headquartered in Chicago, IL, Maestro Health (http://www.maestrohealth.com) is the only technology-meets-service platform delivering the most complete, all-in employee health & benefits management solution for brokers and employers. The Maestro Health vision is to put employers in control of all aspects of today’s complex employee health & benefits system. Our partner base ranges from small employers to Fortune 1,000 organizations, whereby we offer integrated “one stop shopping” along with private labeled exchange solutions. Maestro Health owns and operates a private exchange, benefits administration, enrollment, self-funded insurance, healthcare savings account administration and consolidated billing solution—unifying them on a single, comprehensive mobile and web platform—maestroEDGE. Simply put, “We believe benefits work better when they work together.”
About Group Associates, Inc.
Bingham Farms, Michigan based Group Associates (www.groupassociates.com) has been providing benefits administration services for employers throughout the country since 1986. Group Associates’ clients range from local employers to Fortune 500 companies. Group Associates uses internally developed and supported technology to provide a broad range of services related to employee benefits, helping companies reduce costs and increase efficiencies related to health and welfare program administration.