Retirement plan sponsors are the first, and most important, line of defense in providing employees with well-managed retirement savings plans.
HR Administration
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2 min read
Providing your employees with robust health benefits is one of the surest ways to maintain a happy and healthy workforce and remain competitive in the current labor market. The slight downside of having great employee health and wellness benefits is the increased administrative burden it puts on your HR department. Luckily, there are digital solutions to help relieve your team. With the right software and services, current technology enables HR professionals to automate some of the most tedious and time-consuming elements of benefits administration, streamlining mundane tasks that would otherwise take hours.
In this blog post, we’ll let you know the top tech-centric solutions that are helping business leaders streamline their health benefits administration, including:
- Reviewing benefits eligibility and requirements for all employees
- Monitoring enrollment event deadlines
- Providing self-service portals for employees
- Paperless records management and document tracking
Reviewing Benefits Eligibility and Requirements
Most employers need to track timesheets to make sure employees are maintaining their benefits eligibility. Some businesses—especially industries such as food service, hospitality, and healthcare—have their employees on varying schedules. Software and apps exist that will quickly sift through all of your payroll records for you to identify employees whose eligibility status may have changed.
Well-integrated technology can also help simplify the reporting process—some tools will even generate and file 1094s and 1095s automatically.
Monitoring Enrollment Event Deadlines
Digital technology allows business and HR leaders to streamline employee benefits management by letting them know instantly when enrollment events occur. Being aware of important deadlines—and communicating these key dates to your employees—can help your company minimize claim and billing issues.
Self-Serve Web Portals Put Your Employees in the Driver Seat
When your employees become newly eligible for health benefits or they need to make adjustments to their plan, using tools that enable self-service accessibility makes the sign-up and open enrollment process easier for everyone.
Having a web-based employee benefits portal or dedicated website can also help your company to provide a secure way to share information about benefits plans, including instructions for enrolling or making changes to an existing plan. Web-based programs can also provide pertinent information to program participants, including health tips, recipes, and forums to discuss other health topics.
It’s important to keep in mind that benefits websites include highly sensitive data, so consider using advanced encryption methods and a single-sign-on authentication process to protect personal information and prevent data breaches.
Say Goodbye to Paper with Digital Records Management and Document Tracking
One of the benefits of going digital is cutting down on paper files. Old-school recordkeeping and document tracking take up a ton of additional time—not to mention office space! Digital record management and document tracking tools enable employees to enter enrollment and other information online. The documents are then stored electronically or in the cloud. This technology also allows employees to sign and submit important benefits documents online.
Switching from an analog to a paperless workplace also helps cut down human error involved in manually inputting complex and sensitive personal data. Digital technology can help ensure that important information is organized and stored securely, and accessible when and where you need it.
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