Any employer who is dealing with more than a handful of employees would understand the complications faced during employee benefits enrollment. It is a time-consuming and tedious process with a constant struggle to stay in compliance with HIPAA and federal laws. As the open enrollment period arrives, HR professionals and employees find themselves tied up to a lengthy process that can even take weeks at times. This is a difficult and hassled time of the year for workplaces across multiple industries as managers and HR teams try to help staff members understand different benefits plans and enroll in them.
While an HR department is vital, chasing employees to renew their plans and handling such an overwhelming amount of data is hardly productive for a company. In addition, this results in confusion, frustration, and ignorance of other core functions. Hence, benefits enrollment shouldn’t take days for employees but it must be a simple and quick process. They should have all the relevant information to make the informed decision along with a self-service portal to choose the benefits plan that suits their needs and preferences.
So, what can you do to streamline the enrollment process while aligning other HR functions? What can simplify open enrollment for your employees? The answer is Employee Benefits Enrollment Software. As more and more employers are switching to automation, Accomplish brings to you an efficient benefits enrollment platform that supports your employees at every step of their enrollment journey by providing smart and appropriate suggestions. Our software system will ensure that they make the right choices without relying much on administrators for assistance. Our all-in-one software consists of all the data, explains different benefits coverage options in simple terms, sends updates to employees about policies and available options, and helps them adjust their plans according to their life events.
This is not. Accomplish, a trusted HCM software, extends further support to simplify your employee benefits enrollment process with its advanced features and functionalities. Here is a blog to guide you through our benefits enrollment software:
Benefits Enrollment Software and Its Features
Over the past three to four years, over 81% of employers have changed their benefits strategy and packages. Honestly, we, at Accomplish, think that it’s never too late to revamp and modernize your processes and if you are still stuck with a traditional platform, then this is the time to make the shift. Rest assured that with a new software system, you will improve the workflow and save a lot of time and money in the long run.
As an integral part of employee benefits administration software, our enrollment platform helps employees, employers, and HR managers to keep balance while focusing on the other aspects. The system makes it easier and more efficient for service providers to deliver online benefits plans to clients and allow the workforce to access a modern and mobile-friendly portal. Also, it smoothly integrates with other HR software modules, avoiding any disruptions and technical glitches. With all-inclusive benefits software, companies can:
- Reduce the traditional paperwork and automate the enrollment process in health insurance and ancillary options.
- Handle several HR functions, such as time and attendance tracking, PTO, compliance, and more.
- Make the open enrollment process quick and easy.
- Build workflows and forms, validate the process, and troubleshoot backend logic without engineering support.
- Track and make edits using versioning controls to prepare for future enrollment periods.
Accomplish makes open enrollment more efficient, helps with compliance, reduces leakage, and saves costs. To assist employees to navigate the process of selecting the right solution and make a smart choice, we have added numerous features.
Decision Support Tools
For employees who are not familiar with insurance terms and regulations, this tool of our benefits enrollment platform helps them understand all the plans and then select the one that is right for them. According to a recent survey, it is estimated that only 7% of the US population knows about insurance terms, including deductions, premium, co-insurance, out-of-pocket maximum, etc. They are either ill-informed or not informed at all, hence our solution comes with a self-help glossary as a part of the decision support tool. Now, people can find all the definitions on one platform and understand the basics at once.
As you move forward with the enrollment process, automatic calculation tools give the exact amount that the change will cost them if they upgrade or remove a plan. It also tells the contribution of the employer to various plans to help users find the total out-of-pocket expenses for benefits.
As we said earlier, employers can’t expect HR managers and executives to guide their employees at every step and enroll each of them. This will take weeks and they will have to put aside all other core and productive tasks. Therefore, we have built an employee-self-service software so employees can search and register for the most suitable employee benefits plans themselves during open enrollment. We make sure that the money you invest in our software gives you the best returns. So, Accomplish helps you increase employee efficiency and save valuable time.
Needless to say that your HR team can save a great deal of effort and can also reduce errors by eliminating paper documents and dual entry systems. Your workforce simply has to log in to this portal using user id and password, browse plan options at their leisure, get information about each package, and then enroll in it. Also, in case of any qualifying life event, employees can make the required changes themselves to review and approve.
With employee benefits administration and enrollment, companies have to adhere to an array of regulatory requirements, such as COBRA, HIPAA, FMLA, and whatnot. HR departments need to stay compliant with these rules as the entire of benefits covers labor laws, authorization, financial stipulations, compliance-related practices, etc. The risk of not complying with the regulations and face penalties always hover on your head. Therefore, it is necessary that your software has an accurate compliance tool.
Our cloud-based benefits module included ACA compliance software ensures that all mandate compliance is met and updated automatically. As employees gain coverage to comply with COBRA, it allows businesses to send qualifying and initial notices to let them know that they have access to company benefits. Accomplish helps you avoid all the unintended non-compliance issues and penalties related to them.
Connection to Carriers
Companies used to connect to benefits carriers using Electronic Data Interchange (EDI) software to set up health insurance plans. However, this would take months but with modern technologies, benefits administration software can now easily be integrated with different carriers and vendors. With the carrier connection feature, companies can automatically get enrolled and find information for insurance carriers about various benefits changes, such as open enrollment, terminations, new enrollments, and life changes.
Now, there is no need to manually input or fax data to a carrier or wait for weeks to make updates about qualifying life events. Accomplish gives peace of mind by enabling you to communicate with your carrier and mitigates chances of errors in coverage. Also, it will reduce workload significantly as you can transfer employee data and store it securely and quickly.
An administrative toolkit, such as email templates communicates all the information to employees. There is also a customizable eligibility rule to ensure that the policy fits the solution. Accomplish accommodates the policies selected, whether it is a percentage of the total premium, a flat rate for employees, or age band-related.
Along with census reporting and access capabilities, our benefits enrollment software also gives controls for employee benefits brokers. Thus, stakeholders can get all the relevant data to offer support and provide a new quote after renewal paperwork from the carrier is received. It also comes with deduction exports and configuration along with a direct connection to the online payroll software
Why Choose Accomplish EP As Your Benefits Enrollment Software
There are a plethora of options available for benefits administration and enrollment software. However, only a few of them meet your expectations and demands. Accomplish is a trusted software that empowers people and adds convenience to your company’s processes. With unmatched dedication, our team has developed this system to address your benefits challenges effectively. Here are a few reasons that make us stand out from others:
With Accomplish as your HRIS software solution, you no longer have to spend hours or days to complete paperwork. Our online benefits platform manages everything in one place via a single dashboard. It handles all the functions of open enrollment and administration digitally, from storing records to providing the required information, and more. Furthermore, it also streamlines the reporting process to help you stay in compliance with government regulations and rules. Be it HR managers, employers, or administrators, every authorized person will have quick access to employee data from a single interface.
Our comprehensive software system also saves time and effort that teams invest to fill in data for benefits packages. Using online accounts, employees can check their details related to plans, find answers to any query without visiting the HR department, and update the information. What’s more, Accomplish is accessible via smartphone, tablet, laptop, and desktop.
Our benefits enrollment software solution enables employers to monitor, control, analyze, and track benefits management at any given time. Once you implement the software, you will witness some significant benefits within no time, making everything easier for you. Along with other aspects of your business and professional life, you can now bring benefits enrollment and administration to the same standard. Soon, you will find that HR professionals or even you for that matter will have enough time to spend on key competencies.
Accomplish also helps in collecting the right amount from employees’ payroll deductions and matches the amount with their contributions. Also, you can check if carriers are billing within the deadline or stipulated time. Our automated services tool accurately compares enrollment, payroll deductions, and employer contributions for each employee against carrier invoices so you can spot any deviation and respond immediately.
Depending on how you process your payroll, our robust software has the ability to make automatic deductions for employees. As we said earlier, it calculates the contributions of employers and employees but it goes one step further by deducting the amount directly without making any error or mistake.
Being a leading payroll software company, Accomplish showcases a great feature that is appreciated for its accuracy and covering various components of benefits administration. This implies that you don’t have to maintain numerous spreadsheets or files manually when employees change their plans. The platform will take care of everything for you, HR staff, and employees, thereby eliminating other daily issues.
Our benefits administration module is integrated with payroll management that enhances employer’s and employee’s experience. This system-to-system integration boosts administrative efficiencies to a great extent that saves plenty of resources that are used to support it. As the responsibilities are automated, HR can divert its attention to other high-priority projects. This also smoothly transfers the data between systems in real-time. As the software shares information, it removes the need for any human intervention which drops errors and mistakes.
It also allows HR administrators to analyze the shared data and the reporting makes tax season easier. We have combined technology and self-service tools to give the best experience to employees with a centralized hub that stores their data and history related to pay stubs, selected benefits, and other HR details.
Convenience & Satisfaction
Not everyone can navigate through a benefits administration easily. As employees will be using the platform once or twice a year, we have made sure that it is intuitive and straightforward to use even for not-so-tech-savvy employees. They can shop or choose their benefits programs with just a few clicks on their smartphone or laptop. From updating their plans and information to including others in their decision-making process, they get it all with Accomplish. Also, our exclusive benefits administration software for brokers allows them instant access to any information anytime, anywhere.
Moreover, as federal rules are continually changing, most employers and employees may find group health insurance plans confusing. With our benefits administration online, employees get full value to their benefits which increases the overall satisfaction.
Although managing benefits enrollment is a complicated and daunting task, the right software solution that meets your business needs can save a lot of time, money, and valuable resources. Hence, making the process effective and efficient. So, if you still haven’t made the transition from a traditional enrollment method to modern technology, then it’s time that you deal with benefits management smartly and share information with a touch of a button.
For any query, feel free to get in touch with the team of Accomplish. You can also connect with us for a free demo or discuss the project on how your company can make the best of benefits management software.