COVID-19 has made in-person Open Enrollment nearly impossible—manually tracking down, scanning and submitting an endless amount of paperwork has become a nightmare to try to do from your home office.
It is crucial for employers to adapt and modernize their current benefits administration strategy through the latest technologies.
Here are the top five reasons an employer should be using an automated, streamlined benefits administration system:
IMPROVE EMPLOYEE BENEFITS ENGAGEMENT & OUTCOMES
Employees have access to their benefits 24/7—allowing them to make informed decisions and access alternative care options like Telehealth which lead to higher engagement. Engagement leads to better overall outcomes, a win-win for both you and your employees.
MAINTAIN ACCURATE EMPLOYEE DATA AND RECORDS
Benefits Administration systems allow employees to input and update their information in real time. These programs are safe, secure and HIPAA complaint.
STREAMLINE ALL YOUR HR EFFORTS IN ONE PLACE
Access ACA and COBRA compliance information, onboard new hires, manage PTO and payroll, and manage employee benefits enrollment all with one program!
SAVE TIME ON BENEFITS ENROLLMENT
The typical amount of time an HR professional spends on a traditional paper enrollment process is 35–45 minutes per enrollee.1 By transitioning to a self-service online enrollment system, you could reduce benefits enrollment time spent by 71–88% per enrollee.
SAVE MONEY ON HR TASKS
Small business owners not only save time but costs are also significantly cut when using a benefits administration system. While benefits enrollment typically costs an employer $109.48 per employee when handled manually by HR staff, this cost drops to $21.79 when handled through a benefits administration system.
READY TO LEARN MORE? Click below to access our infographic to learn how a benefits administration system can save you both time and money.
Ascela works with a variety of benefits administration vendors and selecting the right system is key.
Contact our team to find your perfect match today.
Sources: Benetech.com | CFO.com
Comments