HealthCare Impact Associates snags honors by Human Resource Executive Online for creation of Health E(fx)
Minnetonka-based HealthCare Impact Associates is celebrating recent recognition by Human Resource Executive Online, an independent web-based publication for HR leaders. The site recognized the company’s product -- Health E(fx) -- as one of the top ten human resources products of 2014.
Health E(fx) is a cloud-based resource that was launched in 2013 to help HR departments navigate the new rules and guidelines established by the Affordable Care Act (ACA).
Today, companies are still working to understand the many regulations within the ACA. Made effective in March 2010, with most of its provisions phased in by January of this year, the ACA was designed to increase the quality and affordability of health insurance, lower the uninsured rate by expanding public and private insurance coverage, and reduce the costs of healthcare for individuals and the government. Health E(fx) software provides assistance for small and large companies, in addition to working with company’s brokers, consultants and third-party administrators. Its automated employee-notification and reporting capabilities are an added pluses for employers and brokers looking to grapple with the ACA's complexities and risks in one place, according to Human Resource Executive.
“The system is cloud-based, HIPAA compliant, and meets the most stringent data security requirements. It is also compliant to Sarbanes-Oxley as a single point of audit for medical benefits. There is no infrastructure or ongoing updates to compliance regulations and parameters for the employer to worry about,” said HealthCare Impact Associates President Andy Brown, in a recent interview with the Minnesota Business magazine. “All compliance changes that occur over time, such as change to federal regulations, or state-by-state exceptions and Medicaid expansion, is automatic without the employer even having to think about it. Always compliant, no configuration, no system management headaches.”
Human Resource Executive is a nationally distributed publication that was established in 1987. The publication is based in Horsham, Penn., with over 75,000 subscribers, primarily in administrative and human resources-related roles for their respective companies.