NEW ORLEANS--(BUSINESS WIRE)--SyncStream Solutions today launched its Benefits Analysis Toolkit, which offers benefits brokers, CPAs, and HR consultants a way to become more efficient, accurate partners to their clients. Built specifically to meet the changing needs of HR and benefits advisors, the toolkit will assist them in calculating and forecasting the effect of all benefit offerings on a company’s bottom line by incorporating employer contribution, taxes, penalties, and potential employee turnover into one easy-to-read report.
The Benefits Analysis Toolkit automates calculations to save consultants from tedious, time-consuming manual equations and the human error that accompanies them, making these consultants a more valued and trusted source for their clients, and giving clients a more accurate forecast in a side-by-side breakdown of the benefits options they’re considering.
Employers answer a number of simple questions about their current benefits, the cost of these benefits, and any potential changes they are interested in making. The toolkit then calculates the impact of these benefits on a company’s spending based on their current habits, and any potential changes they are interested in, for up to three years. The toolkit can also be periodically updated with current enrollment numbers for more accurate readings.
Beyond the calculations, the toolkit offers a number of additional modules pertaining to the Affordable Care Act (ACA), a notoriously tricky compliance issue for employers that often requires assistance. These modules include Cadillac tax information and helpful insight into choosing your tracking periods. Each piece of the toolkit is well designed and easy to navigate, lending itself to improved communication between client and broker.
“As employers evaluate health care and other benefits options to comply with the ACA and attract qualified employees, it’s important for their advisors to be able to accurately predict the cost of the benefits they recommend,” said Arthur Tacchino, Chief Innovation Officer of SyncStream. “The Benefits Analysis Toolkit gives benefits brokers, CPAs, and HR consultants—especially those without the advantage of in-house technology—an array of tools they can use to put themselves ahead of the competition and engage their clients.”
The Benefits Analysis Toolkit, which can be used for an unlimited number of clients and reports, is available November 8.
About SyncStream Solutions
SyncStream builds intelligent, intuitive solutions that help employers and their trusted advisors comply with the most complex regulations, from the ACA to EEO-1. SyncStream’s compliance solutions marry existing employer payroll and HR data with proprietary analytics to accurately fulfill legislative requirements and provide the assurance of auditability.
A woman-owned business, SyncStream is the result of some 100 combined years of employee benefits, health care, legal, regulatory, education, and technology experience, and has successfully fulfilled over 2 million employee forms and served more than 10,000 customers with well over 90 percent accuracy. Visit www.sync-stream.com for more information.
