Anthem teamed up with Symmetry Software and implemented the Symmetry Tax Engine, allowing them to automate the process of looking up local and state tax codes.
In 2004 WellPoint Health Networks Inc. and Anthem Inc. joined forces to create Anthem, the country's leading health benefits company. One in eight Americans receives coverage through one of Anthem's affiliated plans. Anthem's disability insurance plans help Americans who are unable to work by providing them with a benefit check to help maintain a steady income. Similarly to income tax, disability checks are also subject to federal, state, and local withholding taxes. Previously, Anthem's staff in the Disability Claim Payment Area was manually researching each tax rate for disability claims. If the taxes were not determined accurately then the recipient would ultimately owe taxes.
"Symmetry Software has been a great company to work with. The product is very easy to use. The quality is unparalleled and has very little maintenance to maintain."
Since manual processes introduce unnecessary risks, Anthem needed a tool to automate the process of looking up local and state tax codes. Eliminating the risks was integral to the Disability Claim Payment Area as they wanted to ensure the disability recipients would not owe an abnormally large amount when filing their taxes. Anthem found Symmetry Software’s free web tool online and ultimately determined a greater need for the full product.
"I couldn’t have asked for any better service at any point. Five stars across the board."
In 2014 Anthem started a trial of the Symmetry Tax Engine. Shortly after implementing the trial, Anthem licensed the Symmetry Tax Engine and built it directly into their Disability Claim Payment System. The Symmetry Tax Engine allowed for the elimination of their manual processes and for the correct state and local taxes to be calculated quickly and accurately with each calculation.
Anthem, Inc. is one of the largest health benefits companies in the United States. Through its affiliated health plans, Anthem companies deliver a number of leading health benefit solutions through a broad portfolio of integrated health care plans and related services, along with a wide range of specialty products such as life and disability insurance benefits, dental, vision, behavioral health benefit services, as well as long term care insurance and flexible spending accounts.
Speak to an expert to see how payroll tax withholding software can make a huge impact when you’re using the right tools.