NFP Announces Launch of Benefits Compliance Portal
NEW YORK, Dec. 12, 2012 /PRNewswire/ -- National Financial Partners Corp. (NYSE: NFP), a leading provider of benefits, insurance and wealth management services, today announced the launch of its Benefits Compliance Portal, an online, interactive tool that delivers customizable benefits compliance reports for employer-sponsored group health plans. The portal assists employers in complying with federal requirements applicable to their health and welfare plans, including new Patient Protection and Affordable Care Act obligations and existing obligations under ERISA, COBRA, HIPAA, FMLA, Internal Revenue Code Section 125 and other federal mandates.
This comprehensive employee benefits compliance solution generates a list of compliance requirements based on an employer's size and type of employee benefit plans. It also provides information on the latest regulations, providing advisors and their clients with a detailed description of each requirement, links to relevant government websites, copies of model notices, frequently asked questions and applicable noncompliance penalties. The portal can also generate an action plan for completing outstanding tasks. The action plan syncs with online calendars, allowing advisors and clients to track specific compliance tasks and receive email reminders.
NFP's national employee benefits practice provides a broad suite of products and services, including an extensive Benefits Compliance team, actuarial services, human resource services, benefits administration, and communication and analysis tools, which enable its professionals to fully support employer clients. NFP's benefits professionals combine their knowledge and expertise with these resources to deliver comprehensive solutions to NFP's clients.
Commenting on today's announcement, Ed O'Malley, president, NFP Corporate Client Group, said, "Advisors and clients are inundated with information and, often, misinformation regarding health care reform and other regulations. The NFP Benefits Portal enables them to tailor current information to meet their specific needs. It is a much-needed resource in today's complex regulatory landscape."
National Financial Partners Corp. (NYSE: NFP), and its benefits, insurance and wealth management businesses provide diversified advisory and brokerage services to companies and high net worth individuals, partnering with them to preserve their assets and prosper over the long term. NFP advisors provide innovative and comprehensive solutions, backed by NFP's national scale and resources. NFP operates in three business segments. The Corporate Client Group provides corporate and executive benefits, retirement plans and property and casualty insurance. The Individual Client Group includes retail and wholesale life insurance brokerage and wealth management advisory services. The Advisor Services Group serves independent financial advisors by offering broker-dealer and asset management products and services. Most recently NFP was ranked eighth on Business Insurance's 100 Largest Brokers of U.S. Business; second on Business Insurance's Largest Agents and Brokers Headquartered in the U.S. Northeast; as the ninth Top Global Insurance Broker by Best's Review; operated the fourth largest Executive Benefits Provider of nonqualified deferred compensation plans administered for recordkeeping clients as ranked by PlanSponsor; operated a top ten Independent Broker Dealer as ranked by Investment Advisor; had three advisors ranked in Barron's Top 100 Independent Financial Advisors and is a leading independent life insurance distributor according to many top-tier carriers. For more information, visit www.nfp.com.