SOURCE: Zywave

Zywave

December 17, 2015 13:00 ET

Zywave Releases a New ACA Section 6055 and 6056 Reporting Solution

MILWAUKEE, WI--(Marketwired - December 17, 2015) - Zywave, Inc., a leading provider of software solutions for insurance brokers, has released a new Affordable Care Act (ACA) Section 6055 and 6056 reporting solution for insurance brokers. This solution will help brokers assist their clients with the 2016 IRS reporting requirements, which state that applicable large employers (ALEs) and non-ALEs with self-funded health plans will be required to file Forms 1094 and 1095. This tool is available -- for no additional charge -- to Zywave partners who have Broker Briefcase® as well as a MyWave Connect® or MyWave Elements® portal.

"Based on our annual employer survey of more than 1,000 employers, we know that 93 percent of employers say it's important that a broker is able to provide compliant plan documents," says Zywave CEO, Dave O'Brien. "What's more -- 33 percent of employers reported that their current broker does not provide, or only partially provides, these documents. Our response to these trends was to create a solution that would help drive meaningful results for brokers, while meeting a very apparent need in the market. A broker can win new business by differentiating themselves with this service offering, and better retain their current book by being the trusted ACA advisor their clients have come to expect."

Ready to file in 3 simple steps

"With our solution, brokers can help their clients comply with the new requirements in three simple steps," says Senior Product Director Michelle Jackson. "It's a great option for employers who are willing to file the required forms with the IRS through a self-service method. There are indications in the market suggesting that product options for employers will be limited by the end of the year. Our new tool enables brokers to save the day!"

Starting today, brokers can distribute tracking workbooks and supporting how-to videos to their impacted groups. All materials are available in Broker Briefcase. Employers simply import their information from the workbooks into the required 1094 and 1095 government forms using their Zywave MyWave Connect or MyWave Elements portal. Then, employers can file the generated forms with the IRS and distribute Form 1095 to their employees.

"A vast majority of our partners have already gotten their clients started, as the tracking workbooks have been available to them in Broker Briefcase since earlier this quarter," says Jackson. "The response has been extremely positive as they have given their clients a jump-start on 2016. We're excited to add this enhanced capability to our existing products so that brokers can provide the guidance their clients need."

To learn more about Broker Briefcase, MyWave Connect or MyWave Elements, visit www.zywave.com.

About Zywave

Zywave is a leading provider of software-as-a-service (SaaS) technology solutions for the insurance industry. The company's products include Web-enabled marketing communicationsbusiness intelligence and analyticsclient resource portals, and agency management tools. More than 3,000 brokerages worldwide -- including more than 90 of the top 100 U.S. insurance firms -- use Zywave's proven solutions to differentiate themselves from the competition, enhance client services, improve efficiencies and achieve organic growth. To learn more, visit www.zywave.com.

Contact Information

  • Media Contact
    Kathleen Curro
    Director of Marketing
    Zywave, Inc.
    414.908.0450