Paychex, Inc., a leading provider of payroll,
human
resource, and benefits
outsourcing solutions for small- to medium-sized businesses, has
been closely following the Patient Protection and Affordable Care Act
and today released its reaction to the U.S. Supreme Court’s decision to
uphold the individual mandate.
“While the individual mandate has been upheld, questions remain about
how the remaining provisions will be implemented,” said Martin Mucci,
President and CEO of Paychex. “Our team of health care experts closely
monitors legislation so they can help business owners navigate the
complexities of the health insurance system, and they’ll continue to do
so as the remaining components of the new law are implemented.
“In addition, as one of the top 30 insurance firms in the country,
Paychex has the unique advantage of being able to leverage our clients’
payroll and insurance data to help them with requirements such as W-2
reporting of employee health coverage and new regulatory compliance
obligations. We can also help our clients simplify the process of
claiming the Small Business Tax Credit by providing details on their
employees’ hours, wages, premiums, and withholdings.”
The Supreme Court’s decision does not bring final clarity to the issue
of health insurance coverage in the United States, and there is still
much uncertainty surrounding its long term impact on employer-sponsored
group health coverage. Additionally, the impact of this year’s elections
on the law and its implementation is not yet known.
As the health insurance marketplace continues to evolve and new coverage
options emerge, Paychex will continue to help business owners understand
the options available to them and their employees, and what the changes
mean for their business, so they can take the appropriate action.
About Paychex
Paychex, Inc. (NASDAQ:PAYX)
is a leading provider of payroll, human resource, and benefits
outsourcing solutions for small- to medium-sized businesses. The company
offers comprehensive payroll services, including payroll processing,
payroll tax administration, and employee pay services, including direct
deposit, check signing, and Readychex®. Human resource
services include 401(k) plan recordkeeping, section 125 plans, a
professional employer organization, time and attendance solutions, and
other administrative services for business. A variety of business
insurance products, including group health and workers' compensation,
are made available through Paychex Insurance Agency, Inc. Paychex was
founded in 1971. With headquarters in Rochester, New York, the company
has more than 100 offices serving approximately 567,000 payroll clients
as of May 31, 2012. For more information about Paychex and our products,
visit www.paychex.com.
Stay Connected with Paychex
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LinkedIn: http://www.linkedin.com/company/paychex/products
