Healthier, Happier Employees

HMO and PPO without the OMG. Effortless benefits enrollment and uncomplicated management, our benefits solutions empower your employees to take control of their health coverage.

NetBenefits

A sophisticated system. A people-centric portal. All the intricacies of benefits outsourcing and health insurance services—without the headaches.

• Compensation Statements
• Self-Service Enrollment
• Life Change Management
• Plan Usage Metrics

Multiple Options for Carrier Communication

EDI Feeds

Eliminate the manual tasks of submitting forms or entering information into your Carrier’s or third-party administrator’s website with an automated enrollment data feed.

Digitized Forms

Digital Forms provide pre-populated forms that are signed and submitted to Carriers electronically, eliminating the tedious manual HR and employees process of filling out forms to communicate enrollments, renewals, and changes.

NetEnroll

Ensure every employee receives professional education on your company’s benefit plans and a customized enrollment experience no matter when they onboard. HR and brokers can offload the task of educating and enrolling every new hire.

ACA Compliance and COBRA

Manage ACA Compliance with our complete benefits administration software, saving time and money through guided reporting setup and automation.

ACA Dashboard

Netchex’s simple, yet powerful dashboard is your direct portal to ACA compliance.

• Automatically manage ACA periods
• Track hours for every employee
• Create ALE and FTE reports
• Generate and file Forms 1094-C and 1095-C

COBRA Administration

Outsourced, affordable COBRA outsourcing programs with complete integration and reporting using the Netchex benefits administration system.

• Full compliance reporting & tracking
• HIPAA Certificates
• Payment & reporting transparency

FEATURED CASE STUDY

Dexas

Dexas was searching for dependable payroll services (with unlimited payroll processing), benefits administration (including eligibility tracking and consistent enrollment), and HR support (such as onboarding and task management). For this and more, Stephen knew Netchex would be a great fit for Dexas, thanks to our true single-source technology and award-winning customer service.

Read Full Case Study

Benefits Administration 101

1. What is Benefits Administration?
2. Essential Features of Benefits Administration Technology
3. Top Advantages of Using Employee Benefits Administration Software
4. How to Get the Most Out of Your Benefits Plan   
5. Benefits vs. Perks—and Why You Need Both
6. How HR Technology Elevates Employee Benefits Enrollment
7. Benefits Compliance: ACA, COBRA, and More
8. Benefits Administration FAQs

Employee benefit plans not only help employees and give a sense of security, but can help your company in many other ways as well. When done effectively, employee benefits can also be a major recruiting and retention tool.

Outside of those few benefits required by law, a diverse and expansive benefits package shows that your company is invested in the wellbeing of employees—giving you an edge against competitors. 

While the positives of providing employee benefits are evident and many, the behind-the-scenes management of employee benefits can be a major undertaking for most businesses. Because it is so important and multi-faceted, employee benefits administration takes a significant amount of knowledge, time, and effort to manage across your workforce. It is an important role to fill by your HR team.

Thankfully, integrated HR technology is available to make Benefits Administration quicker, easier, and stress-free. Let’s take a in-depth look at:

• What goes into Benefits Administration <
• How HR technology makes Benefits Administration easier
• Getting the most out of employee benefits plans
• Creating a better benefits enrollment experience
• Working in-sync with employee benefits brokers
• Remaining in compliance from a benefits perspective

What is Benefits Administration?

Benefits administration is the organization and management of benefits-related tasks for your company. At most companies, benefits administration is the responsibility of the Human Resources department.

Here are just a few of the most common employee benefits. Most of them need to be explained and managed on some level by benefits administration staff:

Benefits administration involves a multitude of tasks, some of which can be automated or outsourced. Integrated HR technology improves the efficiency and accuracy of benefits administration.

• Most benefits will need to be managed throughout each employee’s lifecycle
• Annual open enrollment and life change events must be conducted
• During onboarding, new hires must be educated and complete lots of paperwork
• Likewise, departing employees need to informed of continuing coverage and COBRA

Without proper benefits administration, your company and your employees may be left vulnerable to: 

• Failure to comply with legislation can result in expensive fines
• Miscalculations and omissions in can lead to significant liabilities and expenses
• Missed insurance payments could leave employees uninsured
• Poor bookkeeping could leave your company paying for benefits you shouldn’t be

What is the role of a Benefits Administrator?

A benefits administrator serves as an advocate for employees and manages the full range of benefits. Administrators need a firm grasp of the available options and programs—from retirement savings to health insurance.

Employees’ knowledge and participation in the benefits plan can be greatly improved with help from a benefits admin. New and long term employees will have questions about different policies and how to access benefits, and the administrator needs to be able to:

• Provide basic answers and assistance around benefits
• Guide employees through benefits-related education and paperwork
• Facilitate employee benefits training during open enrollment or onboarding
• Ensure employee handbooks and communication are kept up to date

Additionally, with the right benefits administration software, employees may be able to answer some of their own questions via an online portal. direct access to benefits information and policy choices

Essential Features of Benefits Administration Technology

Benefits administration involves lots of moving parts. Benefits administration software streamlines many of the actual tasks of benefits administration, as well as ensures accuracy and compliance. The right HR software can make benefits administration as efficient and simple as possible at your office.

Here are a few of the must have features for benefits administration software:

Compatible and easy to use

HR solutions need to be integrated with one another. Payroll and tax software integrated with benefits administration software handles pay deductions for insurance, retirement savings, and other routine benefits-related tasks. HR technology should also be scalable and easily customized to the unique set of benefits at your company.

Built-in enrollment and employee self-service

New hires and changes to benefits require a ton of paperwork. Luckily, HR software can streamline that process with autofill data and EDI feeds directly to carriers.

Employees should have 24/7 access to a secure portal. Employees may need to update their insurance policy after a qualifying life event or during open enrollment. They may want to track their accumulation of PTO or verify how much they’re paying toward a particular benefit.

Compliance and security

Make sure your company is Clear communication with employees and systems confirm when tasks and paperwork have been completed to remain compliant with regulations like the ACA and HIPAA.

Dealing with the personal data of employees, your benefits administration software must be as secure as possible. Make sure that employee data is protected at every stage of processing, especially when transferred online to the IRS and insurance service providers.

Employee education and training

A place where most companies struggle is benefits education. Employees need to be informed and aware of what is being offered. If you already have a Learning Management Solution, then custom training and education can be added to your current onboarding curriculum. Your BenAdmin software provider should also provide training resources and materials for your employees. 

Knowledgeable customer support

Not all HR software providers are created equal when it comes to customer support. At Netchex, customer service is always a top priority. Thanks to our highly personalized, expert, and proactive approach to service, Netchex has one of the highest customer satisfaction scores in the industry.

In-depth reporting and analytics

Benefits Administration software can compile an extensive range of comparative data for meaningful analysis and insights. Reliable, quantitative data can help form a complete picture of the relative success of different benefits programs. Get automatic reporting and analytics to better understand your workers and adapt to their needs. 

Advantages of Using Benefits Administration Software

Your benefits administration system needs to work. It does NOT need to require extra work. The right HR technology improves the efficiency and accuracy of benefits-related tasks.

Between legal compliance issues and the danger of miscommunications with insurance carriers, BenAdmin software resolves a wide range of costly and frustrating problems, while also increasing employee education and engagement.

Here are just a few reasons to upgrade your employee benefits experience with BenAdmin software:

Save time and money

Benefits administration can get expensive, through third-party fees and costly errors. For HR departments, benefits administration can be a time-consuming challenge outside of their expertise. From enrollment to pay deductions, HR software takes much of the heavy-lifting of your HR team.

Minimize errors

Technology allows even a small HR department to manage benefits programs efficiently in-house, reducing the need to fill out countless forms and manually transfer data. BenAdmin software also allows employees to sign up for the benefits they actually want, reducing the errors that come with paper filing and working through third-party contractors. 

More clarity and communication

HR software improves the employee experience by removing barriers to employee awareness and communication about benefits. User-friendly employee self-service portals allow for greater transparency and broader access to benefits policies. Empower workers to make better use of available benefits. 

Increase participation and engagement

Some benefits are more popular. Some employees are not even aware of all the benefits available to them. BenAdmin software can give you quantitative insights. With accurate data, you can adjust or remove unpopular benefits options. The most popular benefits programs deserve a bigger share of company resources.

Simplify onboarding and offboarding

The arrival and final departure of workers are the two stages of the employee lifecycle with the most HR paperwork. The right HR software can streamline and simplify onboarding paperwork, digitizing and auto-filling most of the repetitive forms.

You can even start onboarding new hires early with a Learning Management System (LMS). Departing employees need to complete COBRA paperwork, and software can document the completion of key forms during offboarding.

Ensure benefits compliance 

Some benefits are required by law, depending on your industry and the size of your company. Benefits Administration software can help make sure that key paperwork has been completed and legal obligations have been met.

Missed payments and other mistakes can be costly for the company and employees. Your company’s liability and fines can also get expensive if you accidentally fall out of compliance. 

You may have state and local regulations in addition to these federal standards. 

• The Fair Labor Standards Act of 1938 (FLSA)
• The Employee Retirement Income Security Act of 1974 (ERISA)
• The Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA)
• The Family and Medical Leave Act of 1993 (FMLA)
• The Health Insurance Portability and Accountability Act of 1996 (HIPAA)
• The Affordable Care Act of 2010 (ACA)

Reinforce company culture

Popular and accessible benefits can improve company culture, employee satisfaction, and retention because employees feel valued and taken care of. A great benefits package can make all the difference when current employees and potential applicants compare their options at different companies. Demonstrate your investment in employee wellbeing and quality of life by making benefits easily accessible.

Strengthen relationship with your benefits broker

BenAdmin software doesn’t eliminate the need for industry experts like employee benefits brokers. Instead, it allows for benefits packages to be tailored to the circumstances and demographics of your workforce. Give brokers more detailed insights into your employees and their priorities. 

How to Get the Most Out of Your Benefits Plan

Optimize your benefits to better serve workers, and the results should be cost-effective for the whole company, reducing the expense of turnover and recruiting. Popular, useful benefits will additionally improve workplace morale and the whole company culture. 

Here are several proactive benefits management tips to improve employee experience and strengthen your company’s benefits package:

Review current benefits package

Employee benefits need to be reassessed periodically. Sometimes a change to benefits packages or company policies will resolve routine headaches.

• How long has it been since you compared insurance policies and carriers?
• How many employees are taking advantage of your least popular benefits?
• Have long term employees been made aware of more recent changes to benefits?
• Do you tend to get the same questions and concerns from employees?

Manage benefits cost

Health insurance tends to get more expensive by the year, but that doesn’t mean you’re without options. Focus on cost containment and long-term savings.

If you’re considering a new carrier, look beyond short term discounts and incentives. Look for employee benefits management software and insurance carriers ready to scale with the future growth of your company, so that you don’t outgrow your benefits plan.

Align benefits with employees’ needs

Ask employees for feedback about your benefits to voice concerns and preferences. Identify potential gaps by researching employee demographics and needs. Think about employee wellness and work-life balance, priorities that weren’t discussed as frequently in past decades.

• How can your benefits support employee mental health and reduce burnout?
• Have you considered non-traditional benefits that are adapted to the needs of your employees, like discounts on local daycare and help with student loans? 
• Also, should you consider location-specific concerns like employee parking, on-site amenities, or home office setup?

Evaluate both voluntary and employer-paid benefits

Employees sometimes cover the majority (or entirety) of the cost of some benefits, which makes them popular with employers. You might offer a partial match on programs like retirement savings, but other voluntary benefits are relatively inexpensive for the company.

Employer-paid benefits don’t require paycheck deductions, which can make them easier to manage. Employees appreciate having a variety of both types of benefits, including voluntary benefits that may only appeal to some.

Utilize employee benefits management software

Perhaps the most obvious of all. Onboarding, offboarding, and open enrollment are the times with the most HR paperwork. Integrated software allows you to dramatically reduce paperwork and routine administrative tasks, as well as manual errors. Find a benefits solution that communicates with payroll and tax software, and you can quickly and accurately handle paycheck deductions, too.

Develop a communication and education plan

New benefits and big changes to policies often require education for current employees. Is this something your HR team can handle, or do you need to bring in outside experts? Most companies need help. HR technology provides all of that help and more, including an employee self-service portal and Learning Management System to explain your benefits offering.

More options = more flexibility

Explore expanding the voluntary benefits available for employees. This allows you to control the expense, while still giving employees access to the discounts that come with collective bargaining and company policies. 

Don’t forget the underrepresented groups in your workforce. New benefits might help recruit a more diverse set of new hires, while catering too much to your current demographics might further disadvantage marginalized groups.

Benefits vs. Perks—and Why You Need Both

If those are benefits, then what are perks? Are they the same thing? If not, do I need both?

Part of an employee’s compensation package, employee benefits include things like health insurance and retirement savings, while employee perks are more like bonus incentives, such as an on-site gym and student loan reimbursement.

Employee perks tend to be less expensive for the employer, but benefits may be more vital to employees. Perks are a chance for companies to gain an even greater advantage by offering things that are more diverse and unique.

Why offer additional employee perks in addition to benefits?

Even if it’s hard to quantify the ROI, perks help your business stand out from the competition, especially when it comes to rewarding loyal employees.

In today’s highly competitive recruiting market, both employee benefits and perks give your company an edge over the competition in several areas:

Recruiting

When wages and other factors are comparable, employee perks can attract top talent.

Retention

Competitors may offer your employees financial incentives to leave, but perks give them a good reason to stay.

Employee well-being

Perks can make a big difference, especially when using the company’s collective power to secure in-demand services like mental health and daycare.

Five employee benefits you should already provide

Health insurance

Health insurance is a standard job benefit, while dental and vision insurance may be optional.

Life insurance

Life insurance provides peace of mind for employees, as surviving family members may struggle financially due to lost income.

Paid time off

Reduce burnout and spreading sickness by encouraging employees to take advantage of PTO.

Family leave

Parents cannot leave children home alone, and others may need to care for aging parents.

Retirement planning

Workers investing in retirement are less likely to treat their job as a short term gig, especially with matching employee contributions.

15 emerging employee perks to consider

• Flexible schedules and remote work
• Floating holidays
• Continuing education
• Student loan reimbursement
• Financial planning and education
• Child care
• Wellness programs
• Gym membership
• Discounts and corporate rates
• Employee recognition and awards
• Paid volunteer days and charitable matching
• Pet insurance and pet-friendly office
• Commuter benefits
• Meal reimbursement and/or free food
• Music/podcast streaming membership

How HR Technology Elevates Employee Benefits Enrollment

Benefits enrollment can be a major stressor and time strain for HR staff. New hires are excited to learn about benefits and are sure to have plenty of questions. Long term employees also need help during open enrollment periods as deadlines get tighter.

The right HR software can help streamline benefits enrollment and offer a number of advantages to elevate the entire experience for all employees.

Open enrollment vs. new hire enrollment

Benefits enrollment is a predetermined period of time when employees may elect or change the benefit options available through their employer, such as health insurance and an array of ancillary benefits.

The biggest time for enrollment is when new hires first join the company. Employee onboarding usually includes an overview of benefits and related paperwork, even for those benefits that only become accessible after time. With HR software, benefits enrollment can begin before the employee’s first day in the office.

Some employees will change their mind about benefits year to year. The designated period for new policies and voluntary changes is called open enrollment. Though it varies by company, a common enrollment period is around November.

Check with vendors to verify dates and any changes to policies or paperwork. Employees will need reminders about open enrollment periods, paperwork, and deadlines, as well as continued benefits education.

How to improve enrollment with benefits administration technology

Benefits administration software improves the enrollment experience for employees—as well as HR staff—by improving efficiency and accuracy while reducing frustration. 

Here are several additional ways in which benefits administration technology improves the enrollment experience for all:

Reduced administrative hassle

Manual paperwork involves walking employees through each page, while missing items means chasing down employees as deadlines approach. Data transfer errors lead to missed, underpaid, or overpaid coverage.

Answering important questions

Digital benefits enrollment makes it easier for employees to get answers immediately. Experts can answer questions as they arise instead of saying “I’ll have to get back to you later.”

Improved communication

Employee portals provide an additional channel for messages and reminders. Don’t let deadlines, important forms, and plan education get lost in the email inbox.

Easier access 24/7

Around-the-clock access gives your workers a chance to thoughtfully research and compare policies. It allows them to get input from their spouse about options.

Increased engagement

Employees love the benefits they actually use. Give them more direct control through secure online portals. They’ll appreciate the freedom and measure of independence.

Streamlined paperwork

BenAdmin software replaces folders and binders with autofill digitized forms. Plus, connect securely with approved vendors for quick filing. 

Saved time for all

Managers and HR staff don’t want to spend hours walking each employee through repetitive, manual paperwork. Likewise, employees appreciate the clarity and speed of digital portals.

Greater accuracy

Mailing forms and manual data entry both create opportunities for human errors. It’s easy for important changes to get lost in the shuffle between filing cabinets and binders.

Remote enrollment

Remote workers can sign up for benefits without an extra trip to the office, and new employees can get a jumpstart by filling out paperwork before their first day. 

Better recordkeeping and data

Get automatic reporting and analytics to better understand your workers and adapt to their needs. Benefits administration software can compile an extensive range of data for analysis.

Benefits Compliance: ACA, COBRA, and More

A major component of Benefits Administration is compliance. Just as time-consuming, stressful, and deadline focused as other elements of benefits paperwork, compliance (or rather failure to remain in compliance) comes with a hefty set of costly consequences (similar to payroll taxes).

What you need to know about ACA compliance

Enacted in two parts, the ACA is a comprehensive set of healthcare reform laws and amendments. The legislation addresses health care costs, insurance coverage, and preventative care. 

Since its inception, the Affordable Care Act (ACA) has had several requirements for employee benefits and annual reporting with some changes over the years. Particularly, the employer mandate requires employers with 50 or more full-time employees to provide access to “affordable and adequate coverage” healthcare coverage.

Learn more about ACA compliance and how HR technology makes it all easier:

• Which companies are required to report by the ACA?
• How does the ACA define affordable and adequate coverage?
• What happens if full-time employees aren’t offered appropriate coverage?
• What are the ACA compliance reporting requirements?
• What are important ACA compliance reporting deadlines?

What you need to know about COBRA health coverage and compliance

Losing a job, or even changing jobs, can mean the end of insurance benefits, in addition to income. For the past few decades, COBRA health insurance has made gap coverage for insurance more widely available, but what exactly is it and how does it work?

COBRA coverage provides a safety net for the newly unemployed and their dependents. It’s not always the cheapest insurance option, but it minimizes the disruption of benefits. Discover how to improve efficiency and reduce the room for error in your HR department by outsourcing COBRA health insurance administration with Netchex.

Discover everything you need to know about COBRA health insurance:

• Who qualifies for COBRA coverage?
• How much does COBRA cost?
• What benefits does COBRA health insurance cover?
• Do employers have to offer COBRA health insurance?
• How long does it take for COBRA coverage to kick in?

Benefits Administration FAQs