Thomson Reuters to Provide Online Benefits Plan Testing

Thomson Reuters has entered into an agreement with Claims-X-Change to provide a Web-based tool to perform nondiscrimination testing of employer-sponsored benefit plans, accessible through its Checkpoint research platform.

Thomson Reuters' agreement with Claims-X-Change offers Checkpoint subscribers the ability to locate any test, set up multiple users, use targeted hyperlinks to related EBIA guidance on Checkpoint and access Microsoft Excel templates. Subscribers can also use reports that can be attached to a client's file, access recommendations to resolve problems identified during testing, identify highly compensated and key employees, and archive and retrieve historical input data and test reports for audit and re-use purposes.

The IRS requires cafeteria plans, self-insured health plans 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.

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 in the 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.”

For more information, visit http://ria.thomsonreuters.com/integratedsolutions/.

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