4th Quarter 2008
5 Reasons for Online Enrollment and Eligibility
Many of your clients have probably already moved to some kind of online benefits enrollment and eligibility system, but others are still doing most (if not all) of this work on paper.
“It’s about 50/50 between clients doing everything on paper and clients with a system,” says Josh Holman, director of Western Operations at Businessolver, Inc., a national provider of benefits eligibility and enrollment solutions.
Here are some advantages of moving benefits enrollment and eligibility to an online, consolidated system:
- Immediate access to employee benefits data with the ability to manage and monitor annual, new-hire and ongoing enrollments and life-event changes;
- Streamline and enhance communication between HR and employees on benefit offerings and the need for insurance with educational tools and personalized benefit communications;
- Reduce repetitive HR administrative tasks and decrease the cost of enrollments through employee self-service Ensure employees enroll in the benefits they are eligible for by using a rules-based system driven by employer-specific product and plan design; and
- Reduce or eliminate the cost of printing and distributing paper (new-hire jackets, SPDs, company handbooks, annual enrollment documentation, etc.) and become a more sustainable company.
These improvements can lead to serious savings. According to Holman, data clean-up alone can save employers tens of thousands of dollars a year.