Equifax Contract with CMS Renewed, Will Continue Verification for Affordable Care Act Applicants

Company selected to verify income and employment information of health insurance applicants, helping to protect taxpayer dollars and provide efficiency to enrollment process

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Equifax Inc.

May 07, 2015, 09:00 ET

ST. LOUIS, May 7, 2015 /PRNewswire/ -- Equifax Workforce Solutions, a business unit of Equifax Inc., today announced it has been awarded another year-long extension of its ongoing contract with the Centers for Medicare & Medicaid Services (CMS) to provide income and employment verification for Americans applying for health insurance subsidies under the Affordable Care Act.

The contract extension, expires one year from that date and is the second one-year extension awarded by CMS. Should the federal government agree to additional option years outlined in the original agreement, the Equifax contract could span five years.

Equifax began working with CMS in April of 2013 to verify income and employment for the millions of Americans who have applied for subsidies through the federal and state health insurance marketplaces, or exchanges. As of March 10, 2015, nearly 11.7 million consumers had enrolled nationwide in health insurance marketplace coverage, according to the U.S. Department of Health & Human Services.

"We are proud to be selected by CMS to continue our work in providing the federal government with reliable, real-time verification data," said Dann Adams, President of Equifax Workforce Solutions. "This extension is a testimony to the success Equifax has demonstrated over the past two years in playing a critical role in this historic program. Our services help CMS ensure that qualified applicants are getting access to the coverage and subsidies they need and make the health insurance enrollment process more efficient."

To provide instantaneous verifications to CMS, Equifax relies heavily on payroll information supplied by many of the nation's largest employers and maintained in a database known as The Work Number®. The Work Number® is the largest central source of consolidated income and employment information, and now includes data from nearly 75 percent of the Fortune 500.

About Equifax
Equifax is a global leader in consumer, commercial and workforce information solutions that provides businesses of all sizes and consumers with insight and information they can trust. Equifax organizes and assimilates data on more than 600 million consumers and 81 million businesses worldwide. The company's significant investments in differentiated data, its expertise in advanced analytics to explore and develop new multi-source data solutions, and its leading-edge proprietary technology enables it to create and deliver unparalleled customized insights that enrich both the performance of businesses and the lives of consumers.

Headquartered in Atlanta, Equifax operates or has investments in 19 countries and is a member of Standard & Poor's (S&P) 500® Index. Its common stock is traded on the New York Stock Exchange (NYSE) under the symbol EFX. In 2014, Equifax was nominated as a Bloomberg BusinessWeek Top 50 company; its CIO was listed as one of the top 100 by CIO magazine; and the company was named to the Fintech 100 list, was recognized as a top 20 company to work for by the Atlanta Journal-Constitution, and was named a 2014 InformationWeek Elite 100 Winner. For more information, please visit www.equifax.com.

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SOURCE Equifax Inc.