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Don’t fall behind on Benefits Administration

By Justin Dignam

Benefits Administration, if managed poorly with disparate systems can lead to errors, penalties, and overpayments. By housing your Benefits Administration data in the same database as your HR and Payroll system, you allow your employees via an Employee Self Service portal to complete open enrollment paperless online, as well as make any life event changes. Any additions, changes, or terminations from specific plans are automatically passed to your carriers via a feature called Carrier Connectivity. Since the Benefit plan data is resident in one database, employee deductions are managed by the system, and not hand keyed by the payroll department. Our integrated system helps reduce exposure to compliance-related penalties by providing reports to confirm full time and variable employee status and produce the required annual filings required by the IRS. Carrier Connectivity alongside Benefits Administration takes away the need to physically relay election information to your carriers, and ensures compliance with the Affordable Care Act.

The post Don’t fall behind on Benefits Administration appeared first on BizWest.

Source:: BizWest

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