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Press release from Business Wire

Paychex Reacts to the U.S. Supreme Court's Decision to Uphold the Individual Mandate in the Patient Protection and Affordable Care Act

Thursday, June 28, 2012

Paychex Reacts to the U.S. Supreme Court's Decision to Uphold the Individual Mandate in the Patient Protection and Affordable Care Act14:52 EDT Thursday, June 28, 2012 ROCHESTER, N.Y. (Business Wire) -- Paychex, Inc., a leading provider of payroll, human resource, and benefits outsourcing solutions for small- to medium-sized businesses, has been closely following the Patient Protection and Affordable Care Act and today released its reaction to the U.S. Supreme Court's decision to uphold the individual mandate. “While the individual mandate has been upheld, questions remain about how the remaining provisions will be implemented,” said Martin Mucci, President and CEO of Paychex. “Our team of health care experts closely monitors legislation so they can help business owners navigate the complexities of the health insurance system, and they'll continue to do so as the remaining components of the new law are implemented. “In addition, as one of the top 30 insurance firms in the country, Paychex has the unique advantage of being able to leverage our clients' payroll and insurance data to help them with requirements such as W-2 reporting of employee health coverage and new regulatory compliance obligations. We can also help our clients simplify the process of claiming the Small Business Tax Credit by providing details on their employees' hours, wages, premiums, and withholdings.” The Supreme Court's decision does not bring final clarity to the issue of health insurance coverage in the United States, and there is still much uncertainty surrounding its long term impact on employer-sponsored group health coverage. Additionally, the impact of this year's elections on the law and its implementation is not yet known. As the health insurance marketplace continues to evolve and new coverage options emerge, Paychex will continue to help business owners understand the options available to them and their employees, and what the changes mean for their business, so they can take the appropriate action. About Paychex Paychex, Inc. (NASDAQ:PAYX) is a leading provider of payroll, human resource, and benefits outsourcing solutions for small- to medium-sized businesses. The company offers comprehensive payroll services, including payroll processing, payroll tax administration, and employee pay services, including direct deposit, check signing, and Readychex®. Human resource services include 401(k) plan recordkeeping, section 125 plans, a professional employer organization, time and attendance solutions, and other administrative services for business. A variety of business insurance products, including group health and workers' compensation, are made available through Paychex Insurance Agency, Inc. Paychex was founded in 1971. With headquarters in Rochester, New York, the company has more than 100 offices serving approximately 567,000 payroll clients as of May 31, 2012. For more information about Paychex and our products, visit www.paychex.com. Stay Connected with Paychex Twitter: www.twitter.com/paychex Facebook: www.facebook.com/paychex LinkedIn: http://www.linkedin.com/company/paychex/products MediaBecky CaniaCorporate Communications ManagerPaychex, Inc.585-387-6337Email: bcania@paychex.comTwitter: @PaychexNewsorTom BredeCounselor, Public Relations & Public AffairsEric Mower + Associates585-389-1870Email: tbrede@mower.com