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What Should Be Automated In Benefits Administration?

December 6, 2021, by New City Insurance

empoyee benefits written on diary with penThe employee benefits landscape has grown substantially over the last decade, leaving many human resources professionals struggling to keep pace. HR processes can be complex and time-consuming, increasing a company’s risk of making costly errors.

According to Employee Benefits News, up to eight percent of dependents enrolled in an employer’s healthcare plan are ineligible to receive benefits. For an average $2,000,000 of benefits spent, companies could be losing up to $160,000 a year.

Automating benefits administration tasks can help save businesses time and money, while also reducing the risk of mistakes. Benefits administration involves a variety of tasks, such as new hire onboarding, open enrollment, salary changes, cost management, compliance, plan audits, benchmarking, monitoring eligibility, and life event changes.

What Should Be Automated In Benefits Administration

With guidance from an experienced employee benefits consulting firm, companies can take the necessary steps to automate manual benefits administration tasks and make the HR role more manageable.

When deciding how best to streamline benefits administration, consider automating the following:

1. Paid Time Off Management

Paid time off is one of the most popular employee benefits in the U.S. and most workers use every last minute allocated to them. Not all businesses view PTO in the same way, bundling paid time off with paid vacation and paid holidays. HR professionals are tasked with tracking various types of leave, often resulting in an administrative burden.

Automating PTO saves both employees and managers time by implementing a system that automates prorated time off based on start dates while accounting for any previous rollover time off. Automated systems can go as far as accounting for the type of time off and send reminders to employees about their available PTO to avoid the end-of-year rush to use their remaining PTO.

2. New Hire Reporting

new employee hiring recordNew employees are met with a variety of forms, such as W-4 forms, state new hire tax forms, direct deposit authorizations, employee handbook acknowledgments, and similar paperwork. Information regarding employee benefits is also a must and a major hassle for administrative professionals. Most companies require employees to wait 30 to 60 days before signing up for benefits which can often lead to confusion among new hires.

Automating new hire reporting can help save HR personnel time by automatically sending reminders regarding the sign-up window, what benefits are available, and what documents are needed to enroll. Summary plan descriptions can be difficult to manage but when utilized in a linkable format, become much more manageable.

3. Employee Data Security

According to IBM’s Cyber Security Intelligence Index, approximately 60 percent of all data breaches are caused by employees. Ensuring the privacy of employee data is of the utmost importance for HR personnel. Employee benefits administration systems must work securely with IT networks to protect sensitive employee information.

This process involves identifying potential security risks before automating business processes and addressing these risks by analyzing available security features within the automation tool. Businesses must also follow security best practices during all stages of automation, including environment setup, bot development, and execution of automated business processes.

4. Medical Insurance

Health insurance is a complex industry that is constantly changing. Automating the medical insurance process helps minimize the abundance of paperwork associated with health benefits and organizes information in a centralized location where it can be easily accessed when needed.

Risks are reduced when medical insurance information is automated. HR professionals also save time by having data available at a click of a button instead of having to fumble through files. Nearly every aspect of the medical insurance process can be automated, from the initial enrollment of employees in health plans to healthcare claims processing.

5. Reporting & Analytics

work hard data analytics statisticsReporting is a vital aspect of benefits administration that often gets overlooked. Automation enables businesses to store essential information for compliance purposes where it can be easily accessed. Reports also provide insight into other areas, such as enrollment, healthcare expense per employee, changes to employee classifications, and plan adoption.

Solutions that include built-in analytics also allow companies to easily identify trends that may not stand out in manually created reports. Analyzing these trends can help business leaders discover areas in which they can make positive changes within the organization.

Automating benefits administration is an effective way to control costs, lessen the burden on HR personnel, maintain employee data security, and reduce the risk of errors. A well-implemented automation tool can streamline the benefits eligibility process, improve premium invoice and carrier reconciliation, and eliminate the stress associated with administering open enrollments, life event processes, and ongoing new hires.

Contact an Employee Benefits Consulting Firm

Need help automating your benefits administration? New City Insurance is an experienced employee benefits consulting firm specializing in benefits consulting, insurance, compliance, and technology services. Contact us today to schedule a consultation with a reputable employee benefits consultant.

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Filed Under: Benefits Administration Technology

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New City Insurance
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Carol Zhang
Carol Zhang
04:29 06 Mar 22
As a rapidly expanding national media organization, the employee benefits strategy and administration that New City has provided us during our growth has been invaluable. They have been proactive about informing us of the different benefit strategies available to us as we grow as well as managing the additional compliance laws and reporting requirements at each stage of our growth.
Claudia Villalobos
Claudia Villalobos
20:14 03 Mar 22
New City Insurance made navigating through all the health insurances super EASY. Their documents are highly informative, professional, and easy to work with. Thank you for making the process of choosing a health plan so simple. You guys are THE BEST!
Philippe Salas
Philippe Salas
17:02 22 Feb 22
I never expected to have a good time talking to an insurance salesman, but let me tell you Brendan was quite the treat. He was very helpful explaining the options and has a wonderful sense of humor. I hope to speak with him every time I call.
Jennifer Polito
Jennifer Polito
17:15 09 Feb 22
Super easy enrollment process. Fast and friendly customer service. If you are looking for an insurance company that is there for you every step of the way I highly recommend New City Insurance.
Rocky Salas
Rocky Salas
23:46 07 Jan 22
So friendly, I hope to speak to him again in all my future insurance needs.
Rocky Salas
Rocky Salas
23:38 07 Jan 22
So friendly and soft spoken. I hope to speak to him again in all my future insurance needs.
Jose Brena
Jose Brena
13:20 06 Jan 22
Eric Calciano has been extremely helpful in finding and selecting the right insurance coverage for our company. With many options out there Eric assisted us on getting a low cost provider saving more than 20% than from our competitors and providing excellent coverage for our employees.
Anastasia Beaverhousen
Anastasia Beaverhousen
17:05 28 Dec 21
Signing up for insurance was quick and easy. Felicity Sundsboe
SFCC
SFCC
22:08 29 Nov 21
Jeff Stoltey and his team provide excellent customer service. Jeff has always provided my company SFCC with straightforward options. I went to a larger insurance company only to RUN BACK to Jeff at New City Insurance. I recommend them to anyone needing insurance without hesitation.
Kevin Luby
Kevin Luby
19:13 22 Oct 21
Quick, easy & informative. We were able to secure quality insurance for our small business on a tight deadline. Thanks for the help New City.
Theresa Ruybol
Theresa Ruybol
19:30 01 Jul 21
Eric was so great with us. He was very patient and kind as we are a newer smaller organization who is growing rapidly. With that said, we had made our inquiry, he had great rapid response and mostly had to wait on me. Any request that we made and/or questions we had, he was great answering and helping us understand. Then when we were ready for all documents and to move forward, Brendan helped with getting that together and the two of them worked their magic on New City's end to notify me of what was needed, assist me in that process and confirming that all was complete and approved for the coverage. I just want to say thank you all again so much, as insurance has always been confusing to me, and you all made that process go a lot smoother.Thank you
Andrea Ordendorff
Andrea Ordendorff
21:06 07 May 21
I've been working with both Clayton and Brendan for well over a year. As the purchase of our dental practice was delayed well over 14 months they both patiently supported me and continued to make themselves available. When we were officially ready to sign up they made the whole process seamless and super easy. This team is highly knowledgeable, professional, supportive, and efficient! I can't thank them enough for everything they've done.
T W
T W
22:32 30 Aug 20
I love New City Insurance. I never had a good experience dealing with insurance brokers until I started working with Brendan. He’s awesome! He is patient with me and takes the time to answer all my questions. I’m very grateful for all his help and hard work!
Mary Jane Deyette
Mary Jane Deyette
00:57 11 May 20
Jeff Stoltey is so awesome...even thru my company had only two employees, he took the time each year to research and find the best plan for us. The only reason I am leaving New City Insurance is because we no longer have any employees. Thank you Jeff
Alma Ortiz
Alma Ortiz
22:25 23 Feb 20
Brendan was awesome! I couldn't figure out how to pick my plan and he returned my call on a weekend to help me. Outstansing service!
jessica kavanagh
jessica kavanagh
19:53 13 Feb 20
Brendan was so helpful I definitely recommend him if you’re in need of good help and getting it done promptly. Thankyou so much again.
Tricia DeYoung
Tricia DeYoung
19:49 13 Feb 20
I was very thankful I inquired about this info. with Brendan. He was very helpful so I understand the benefits available much better now. Thank you Brendan.
B Bayer
B Bayer
17:43 24 Sep 19
NCI handled almost everything from start to finish. Clayton and Brendan made the plans easy to understand and walked me through the application process. They got me my ID numbers before my cards arrived so that I could keep an appointment I had already scheduled. My last broker wouldn't have done that. 5 stars!
Jessica Lehr
Jessica Lehr
03:36 07 Jun 19
Our staff was interested in a health plan, but we didn't know how beneficial a solid employee benefits package would be for our business to expand. We'd lose prospective employees because they had more options for their medical insurance which was sometimes more valuable than more pay. The New City team was amazing and gave us as many affordable options as possible so that everyone had their needs met.
Mike McClay
Mike McClay
19:36 03 May 19
My employer uses New City as their insurance broker, and I'm always amazed when I call in for assistance by how knowledgeable and attentive their staff is with my requests. Their online benefits platform makes selecting insurance plans pretty darn easy. I would highly recommend their services.
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