PORTLAND, Maine, Feb. 19, 2020 /PRNewswire-PRWeb/ -- ClaimVantage, an international provider of life, health, and absence management solutions, today announced that in addition to managing all existing unpaid and paid federal and state family and medical leave laws, its Absence software is ready to support the administration of Massachusetts Paid Family Medical Leave (PFML).
With Massachusetts PFML going into effect January 1, 2021, ClaimVantage will provide insurance carriers, Third-Party Administrators (TPAs), and employers with substantial lead time ensuring they are fully prepared to effectively manage the new state-mandated paid leave program. Having rolled out a similar strategy for Washington PFML and other state-paid leaves, ClaimVantage is providing the market with leading absence management and IDAM solutions to drive business development and growth, while ensuring regulatory compliance.
"With five states paying benefits as of January 1, 2020, and three more states rolling out new PFL and PFML programs over the next few years, we are continually updating our Absence Management Solution to support new legislation, giving our customers less to worry about," said Monique Bouffard, Head of Product at ClaimVantage "With three annual releases, we're delighted to be able to offer the market an evolving cloud-based platform to maintain regulatory compliance."
Once Massachusetts PFML takes effect on January 1, 2021, the solution will handle the new PFML regulations when determining employee eligibility and benefit calculations. The built-in rules engine automatically determines employee eligibility based on the criteria specified by the law. For example, it considers the state where they are employed, the reasons for the leave, and the duration requested. In addition to managing state and federal leave laws, company-specific paid and unpaid leaves can also be managed on the central Absence Management platform.
To learn more about ClaimVantage's Absence Management Solution, used by five Fortune 500 companies, visit claimvantage.com/absence-management/.
ClaimVantage offers industry-leading life, health, and absence claim management software solutions for insurance carriers, Third-Party Administrators (TPAs), and large employers. ClaimVantage provides cloud-based, automated claims processing solutions that drive efficiency, accuracy, and productivity, helping its customers to deliver superior customer service.
With its North American headquarters in Portland, Maine, and European headquarters in Dublin, Ireland, ClaimVantage also has teams in EMEA and APAC.
For more information about ClaimVantage, visit claimvantage.com.