Flores is pleased to introduce a new financial wellness option for employers, the Student Loan Repayment Assistance Plan (LRAP). This plan allows employers to provide up to $5,250 in tax-exempt assistance to employees to cover student loan debt. Employers can provide additional funds on a post-tax basis.
We executed several strategic acquisitions to expand our footprint in the Midwest and Northeast.
We released a new version of our proprietary Employer Portal, Flores Dash, to offer expanded functionality and processing speed for clients.
When the American Rescue Plan Act of 2021 was released, we responded swiftly to meet the compliance needs of our clients. Prior to the deadline provided in the law, we helped our clients audit and provide required notices to impacted AEIs. We also modified our proprietary COBRA platform to track ARPA promptly.
Flores landed on the Inc. 5000 list for the first time this year with over 49% revenue growth.
Jody joins Flores with over 20 years of executive leadership experience at Ariba and SAP, and most recently as President and CEO of Infinisource Benefits Services. Prior to entering the corporate world, Jody was an officer in the United States Navy, retiring at the rank of Commander. He is a seasoned executive experienced in building and improving both operational and commercial organizations in SaaS-based technology companies.
Thanks to the support and trust our clients and broker partners continue to place in us, we have continued to grow in the midst of the COVID-19 pandemic and its economic impact. We grew our teams across the board this year by over 25% to ensure a remarkable benefits experience for our clients, participants, and broker partners now and for years to come.
The COVID-19 pandemic created many challenges for employers that could often be fast-paced and confusing to navigate. We created the COVID-19 Resource Center to keep our clients and brokers updated on developments to the tax-advantaged accounts and COBRA plans we administer.
We are pleased to announce that Gary Trainor joins us as Executive Chairman. Gary has more than 30 years of human capital management software and service experience and shares our unwavering commitment to performance excellence.
We understand the difficult transition and life periods that can coincide with a COBRA event. We handle COBRA participants with the care and compassion we would like to receive and that all participants deserve. That’s why we have transitioned to daily processing for COBRA Qualifying Event and Initial Notices to ensure participants have the information they need to evaluate COBRA and choose the best continuation option for their healthcare needs.
We employ a team of dedicated IT professionals who work hard daily to ensure our proprietary technology platform is one of the best in our industry. We released a new version of our Flores247 Web Portal with improved navigation options and intuitive design to help participants find what they need and manage their accounts even more efficiently than in previous versions.
Users of the Flores Mobile app can access account information faster and further secure their account information with fingerprint identification technology.
We’ve made doing business with Flores even easier for brokers and employers with our dedicated Brokers and Employers pages. Here brokers and employers can find the resources they need to learn about the plans Flores offers, access webinars and other educational tools, and request proposals online.
Over the summer, we updated our Flores247 Participant Web Portal with a fresh design and added made user navigation more friendly so participants can find what they need faster.
In August 2018 we launched Flores Assistant on our Flores247 Participant Web Portal. Flores Assistant helps participants navigate to what they need faster with quick links to common functions as well as their Profile where they can print an ID card and update their contact information in one place.
In July 2018 we added a Two Factor Authentication feature for both the Participant and Employer Web Portal to make our websites even more secure for users.
For over 30 years Flores has delivered a Better Benefits Experience to each employer, participant and broker partner we have served and in May 2018 we rebranded to our Better Benefits concept for a daily reminder to our clients, their employees and broker support team, and the Flores staff of our sustained commitment to this total service excellence.
Now more than ever employees expect to receive information digitally. Our custom enrollment videos have answered that call with video content personalized to your plans that employees can view on demand and conveniently share with their spouse and dependents.
We implemented our Flores Knowledge Series as a tool for administrators to train their teams or refresh on Flores processes. The Flores Knowledge Series covers topics like COBRA, FSA funding, and more and can be viewed on the Flores247 Employer Portal Document Library.
In 2018, we added 36 new HSA+ clients with over 4,620 individual accounts. We also added new HSA education tools including videos and training tools for participants as well as new manuals for employers.
Flores1 was born from our organization’s sincere concern about the well-being of our employees with the goal to create a Better Us. Flores1 is responsible for employee recognition programs, birthday celebrations, showers for special life events and other social activities that are the fabric of the Flores culture. As we experience tremendous growth, Flores1 anchors us in our roots as a family business.