Consumer Directed Health Plans (CHDP) from Omega Benefit Strategies Now Available Through PrismHR Insurance Alliance

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PrismHR customers can now offer Omega’s wide range of CDHP services to their small and medium-sized business (SMB) customers nationwide, with no set up or renewal fees.

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PrismHR, the leading HR software platform for Human Resource Outsourcing (HRO) service providers, today announced the availability of Omega Benefit Strategies’ Consumer Directed Health Plan (CDHP) administration through the PrismHR Insurance Alliance.

CDHPs provide employees with a range of insurance programs and financial accounts that are designed to encourage responsible healthcare purchasing by employees, including high deductible medical insurance and pre-tax accounts that can maximize cost savings.

PrismHR customers can now offer Omega’s wide range of CDHP services to their small and medium-sized business (SMB) customers nationwide, with no set up or renewal fees. Omega also offers HROs the Omega Guarantee, which insures HROs against loss on medical FSA plans if claim payments exceed deductions.

Omega’s services are delivered to HROs through an easy-to-use interface that makes it easy for service providers to offer SMB customers a wide range of services, including:

Flexible Spending Accounts (FSA) (Section 125)
Health Savings Accounts (HSA)
Health Reimbursement Arrangements (HRA) (Section 105)
Commuter choice (Section 132)
Retiree benefits
Tuition reimbursement
Premium administration and single point billing solutions

“Omega’s flexible administration solution makes it easy for Axios HR to provide a modern interface and frictionless employee experience with minimal effort on our part,”
said Blythe Kazmierczak, executive vice president of HR solutions at Axios HR, a joint customer of both PrismHR and Omega.

Michael Doane, VP Corporate Strategy & Development at Omega Benefit Strategies commented, “CDHP plans are growing in popularity every year. We’re looking forward to working with PrismHR’s customers to deliver a wide array of administrative services to their SMB clients.”

“Our network of HR service providers are constantly asking for new services delivered through PrismHR Insurance Alliance, and we’re pleased to offer Omega’s premier services to our customers,” said Tim Pratte, senior vice president of customer success at PrismHR. “We expect that Omega’s CDHP plans will be popular with our customer base; they’re great programs that encourage health plan enrollment while delivering healthcare cost savings.”

PrismHR Insurance Alliance
The PrismHR Insurance Alliance enables PrismHR’s service provider customers to offer a range of A-rated, competitively priced ancillary insurance products to their clients, including voluntary life insurance, group accident insurance, dental, vision and more. In addition, enrollment in Insurance Alliance products is streamlined, and administration and reconciliation are also simplified.

About Omega Benefit Strategies
Omega Benefit Strategies, LLC was originally founded in 1990 by Doug Snowman and is headquartered in beautiful Falmouth, MA. His original vision was to offer high quality Section 125 administrative services to small and mid-sized companies in New England.

Over the years Omega has expanded their services to include COBRA, Commuter Benefits, HRA, Premium Collection & HSA Administration. Today, partnering with producers, insurance carriers & PEO’s, Omega Benefit Strategies offers products and services to over 500 corporate & public sector clients throughout the United States.
Omega’s success is derived from the quality of our professional staff, coupled with cutting edge technology that allows us to deliver to our customers a very unique user-friendly experience. Learn more at http://www.omegabenefitstrategies.com.

About PrismHR
PrismHR creates exceptional software and services, empowering human resource outsourcing service providers such as Professional Employer Organizations (PEOs) and Administrative Service Organizations (ASOs) to deliver world-class payroll, benefits and HR to small and medium sized businesses. PrismHR software is used by more than 88,000 organizations and 2.2 million worksite employees, processing greater than $57 billion in payroll each year. For more information, visit http://www.prismhr.com.

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Maryellen Edwards
PrismHR
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