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Benefits administration is the process of tracking and managing a company’s employee benefits program. This process includes:
Benefits administration is a very time-consuming process, so more organizations use benefits administration software to streamline and manage the workflows.
Benefits administration software solutions allow employers to manage their plans, including health, 401(k), life insurance, and disability insurance. A benefits administration software provider can help set up the benefit plan, making it easier to add additional plans as needed.
Online benefits enrollment is conducted using this type of software and is usually accessible in an employee self-service portal. Employers can also configure new hire enrollment so employees receive a notification when they become eligible for benefits. Once an employee chooses benefits, they can e-sign to complete their online enrollment.
Benefits administration software features can include:
Companies outsource benefits administration because it is a paper-heavy process that can result in duplicate data entry and errors. Many companies cannot dedicate staff solely to benefits administration, and it’s a labor-intensive process for HR managers to handle.
Furthermore, with rising healthcare costs and compliance risks, outsourcing to a benefits enrollment software provider frees up valuable time and resources. HR managers can focus on benefits packages themselves. Providing comprehensive benefits packages gives companies a competitive advantage and attracts top talent.
Typically, benefits administration is part of a total core HR software platform. This approach is beneficial as it allows companies to take advantage of a centralized database for employee information.
APS’ health benefits administration software provides a streamlined approach to managing employee compensation beyond the paycheck. Employers can track and manage benefits plans, conduct open enrollment, automatically send paperwork to providers, and handle COBRA in a single system. By automating these processes, companies can increase efficiency and employee communication with benefits-related information.
Our step-by-step open enrollment process provides a clear and concise overview of benefit plans. Employees are guided through the enrollment process in our employee self-service portal. During open enrollment, employees can: