Merger & Acquisition
RFP – Broker
RFP – Benefit Administration
PrismHR, the leading HR technology software powering payroll, benefits and HR for small and medium-sized businesses across the U.S., today announced that industry leading voluntary benefits from Aflac are now available to the company’s HRO Partner network through PrismHR’s Insurance Alliance.
Aflac–customized accident, critical illness, hospital indemnity and BenExtend plans are being delivered to PrismHR’s network of HR service providers through Alterity Group, a leading advisory firm. PrismHR’s HR service provider partners can enjoy access to lower, customized state-based group rates and will not be subject to underwriting based on size or industry makeup. Through the buying power of PrismHR’s Insurance Alliance, HR service providers can now take advantage of benefits, including guaranteed issue coverage, waiver of pre-existing conditions limitations, no participating requirements and no-cost EDI file transfer to Aflac.
“Interest in voluntary benefits continues to grow among employers and their employees. However, implementing and administering these benefits can sometimes be a challenge for HROs and their clients,” says Sharla St. Rose, Alterity’s Vice President of Voluntary Benefits. “The PrismHR and Aflac partnership, managed by Alterity, will not only offer employees best-in-class benefits, it will also provide for a more streamlined administrative experience.”
“We’re thrilled to partner with Alterity to bring Aflac’s leading voluntary benefits to our network of HRO Partners,” said Gary Noke, president and CEO of PrismHR. “The buying power of PrismHR’s Insurance Alliance delivers lower rates, better accessibility, and superior administration to our HR service providers and gives them a competitive edge when it comes to benefits offerings for their SMB clients.”
About Alterity: The Alterity Group is a leading independent consulting firm offering advisory services designed to meet the unique needs of private equity firms and employers. The firm has relationships with 65% of the top 20 largest private equity firms across the U.S. and Canada. Alterity operates as an extension of deal, operations and procurement teams to help navigate the constantly evolving landscape of employee benefits and insurance to maximize value across portfolios. Alterity is headquartered in New York with offices in Austin, Toronto, and London.
About About PrismHR: PrismHR’s mission is to fuel the growth of small and medium-sized businesses (SMBs) across the U.S. Our software, combined with our ecosystem of HR service providers, enables SMBs to manage payroll, benefits, and HR, leveling the playing field with large enterprises. Today, PrismHR software delivers world-class HR services to more than 88,000 organizations and over 2 million worksite employees, processing greater than $57 billion in payroll each year. PrismHR is located in Hopkinton, Massachusetts. For more information, visit www.prismhr.com.