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Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

Employee Benefit Insurance Carriers Meet COVID Vaccination Accommodation Requests with the FINEOS Integrated Disability and Absence Management (IDAM) Solution

January 4, 2022 GMT

ATLANTA--(BUSINESS WIRE)--Jan 4, 2022--

FINEOS Corporation ( ASX:FCL ) reaffirms that the FINEOS Integrated Disability and Absence Management (IDAM) solution provides an interactive, holistic, and compliant approach to record, adjudicate, and track a multitude of workplace accommodation situations and also easily incorporates the current COVID-19 vaccine and masking accommodation requests. Employee Benefit carriers that have already implemented the FINEOS IDAM solution are uniquely positioned to provide their customers a frictionless experience for employees requesting a COVID-19 accommodation. With FINEOS IDAM, carriers can combine COVID-19 accommodations administration and leave law management, providing a holistic workplace strategy to assist employers and employees during the pandemic.

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“Many employers are enacting workplace vaccine, testing, and masking rules for health and safety reasons. However, many employers feel unprepared to manage the accommodation requests that may follow by implementing such workplace rules. In addition, many employers must also comply with ever-changing federal, state, and local laws concerning vaccination, testing and masking requirements. The good news is that Employee Benefits carriers that have implemented the FINEOS Integrated Disability and Absence Management solution on the FINEOS Platform are well prepared to navigate this hot compliance issue and help their employer customers navigate this demand,” says Lori Welty, Esq., Absence Management Senior Compliance Attorney, FINEOS.

Recent COVID-19 vaccinations, masking, and testing requirements place a documentation requirement and legal obligation on employers, which requires them to engage in the interactive process, including record each employee accommodation request, document supporting information, adjudicate requests, and communicate the outcome of all requests. The FINEOS IDAM solution provides an interactive and holistic approach to help record, adjudicate, and report on the interactive process for COVID-19 accommodations and leave administration process from beginning to end.

“The purpose-built FINEOS Platform already provides workplace accommodation administration within the FINEOS IDAM solution. As a result, not only are carriers already empowered to meet the demands of current COVID-19 accommodation requests, but they are also well placed to address future accommodation scenarios. The FINEOS IDAM solution further addresses the market demand for paid and job-protected time off due to public health emergencies, such as COVID, by providing legislated leave plans such as public health emergency leave, paid sick leave, COVID-related leave for legislated reasons, including caring for children during school closures, and corresponding paid leave and short-term disability benefits,” says Megan Holstein, Esq., SVP Absence and Claims Product, FINEOS. “The holistic process provides the employer a comprehensive view of all the components surrounding an employee’s request including leave and workplace accommodations. It is unquestionably valuable to carriers and employers to have the FINEOS IDAM single view of an employee’s accommodation and leave requests related to COVID-19,” adds Holstein.

“The need for COVID-19 related accommodations and the ease with which the FINEOS Platform meets that need highlights an important point about the Employee Benefits market over the next few years,” states Chuck Johnston, CMO, FINEOS. “There are ongoing market trends that are useful to predict market directions, but the biggest impacts and opportunities for carriers will arise from largely unpredictable external forces, like a pandemic. And that unpredictability will require carriers to handle unexpected needs very quickly. To meet that challenge, carriers who adopt a purpose-built, modern, and proven solution will be well positioned to meet these changing market needs and change the game for themselves and their customers,” adds Johnston.

Contact FINEOS today to request VIP access to watch a 15-minute video recording of the FINEOS IDAM workplace accommodation functionality.

About FINEOS Corporation

FINEOS is a leading provider of core systems for life, accident and health insurers globally with 7 of the 10 largest group life and health carriers in the US as well as 6 of the largest life insurers in Australia. With employees and offices throughout the world, FINEOS continues to scale rapidly, working with innovative progressive insurers in North America, Europe, and Asia Pacific.

The FINEOS Platform provides core administration capabilities including integrated disability and absence management (IDAM), billing, claims, payments, policy administration, provider management and new business and underwriting; all of which are configurable to operate independently or as FINEOS AdminSuite the leading Employee Benefits end-to-end core administration suite.

For more information, visit www.FINEOS.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20220104005680/en/

CONTACT: Victoria Jamison

Sr Marketing Manager

FINEOS Corporation

+ 353 1 639 9700

victoria.jamison@fineos.com

KEYWORD: GEORGIA UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: SOFTWARE INSURANCE HUMAN RESOURCES HEALTH DATA MANAGEMENT PROFESSIONAL SERVICES TECHNOLOGY OTHER HEALTH

SOURCE: FINEOS

Copyright Business Wire 2022.

PUB: 01/04/2022 10:33 AM/DISC: 01/04/2022 10:33 AM

http://www.businesswire.com/news/home/20220104005680/en