Employee Benefits Administration Software

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

The right HR software improves the efficiency and accuracy of benefits administration provided that:
– 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 a lot of paperwork
– Departing employees need to be informed of continuing coverage and COBRA
Learn more about what benefits administration is and how HR technology makes it easier.

A benefits administrator serves as an advocate for employees and manages the full range of employee benefits. Benefit administrators need a firm grasp of the available options and programs—from retirement savings to health insurance.
Employees should be guided through all benefits-related education and paperwork. A benefits administrator should facilitate any employee training about benefits, whether during open enrollment or onboarding.

Employees’ knowledge and participation in the benefits plan can be greatly improved with help from a benefits admin. An 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

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

Benefits administration software should:
– Be easy to use and integrated with HR software
– Include built-in enrollment and employee self-service
– Manage with compliance and data security
– Provide employee education and training
– Offer knowledgeable customer support
– Provide in-depth reporting and analytics
Discover how HR technology elevates employee benefits enrollment.

Benefits administration involves a multitude of tasks, some of which can be automated or outsourced with benefits administration software. 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 inform of continuing coverage and COBRA

Employee benefits packages include a combination of core benefits and additional perks. Employee perks tend to be less expensive for the employer, but benefits may be more vital to employees.

Here are the most common benefits often to employees:
– Health insurance
– Life insurance
– Paid time off
– Family leave
– Retirement planning
– Dental and vision
– Disability and sick leave
– PTO and leave

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.

Benefits administration involves a lot of moving parts, including:
– Benefits provider research and selection
– Employee benefits education
– Open enrollment
– New employee enrollment (onboarding)
– Day-to-day benefits management
– Benefits compliance
– Benefits data analysis and reporting

Yes! When it comes to Benefits Administration at Netchex, comprehensive doesn’t have to mean complex. Netchex makes benefits Administration easy, straightforward, and worry-free.

– Enrollment & Administration
Easier enrollment and management empower employees to better control their benefits coverage.

– Carrier Communication
Eliminate the manual tasks associated with insurance carriers via digitized forms, EDI feeds, or NetEnroll.

– COBRA & ACA Administration
Employees won’t have to worry about the loss of benefits when they are in between jobs.

Compared to manual processing, a benefits administration system will save you significant time and effort. Specific time is dependent on company size, integration features, and other factors.

However, on average, HR staff can expect a 15% time savings by HR staff when using benefits administration software (source: Smart Business Network, Inc.)

Regardless of how much time is saved, benefits administration software enables HR professionals to focus more of their time and attention to your company’s most important resources—your employees.

The cost of benefits administration software depends on a number of different factors. Typically, this includes the number of employees, your company’s specific needs, and other similar factors. When comparing benefits administration software providers, it’s important to take additional benefits into account, like customer service, ease of use, and integration capabilities.

You can choose from one of our pre-built packages or speak directly with our sales team to create your own customized solution for your business. And because our solutions are available à la carte, as your business grows, Netchex can grow with you if you need to add more services later.

Click here to use our interactive calculator to see how much you could save by switching to Netchex.

Yes, but not all HR technologies are created equal. When considering benefits administration software, ease-of-use is always a major factor.

Some features that make Netchex’s benefits administration software easy to use are:
– Virtual enrollment
– Benefits experts on-hand
– Benefits education
– Employee self-service
– Increased communication
– Better overall employee experience

A lot of products say they are easy to use, but when we say it, we mean it. Netchex was recently named the easiest payroll and HR software by Software Advice. At Netchex, we have always prided ourselves on our system’s ease-of-use and overall user experience. Users praise Netchex for how easy the navigation and self-training features/resources are, in addition to highlighting how overall user-friendly the software is.

Discover the essential benefits administration software features that make Netchex easier to use for HR professionals, managers, and everyday employees.

Yes, the Netchex mobile app is a fully-functioning extension of the Netchex system. Benefits administration features, such as benefits enrollment, benefits deductions, overall benefits summary, etc. are all available in the mobile Netchex experience.
You can download our Netchex mobile application on both your Android and Apple (iOS) mobile devices.

Benefits administration software streamlines and automates much of the benefits management processes. It can help your business save time and money.

It also helps HR teams efficiently handle employee benefits related tasks, such as:
– Benefits enrollment
– Benefits eligibility
– Employee contributions
– Collect relevant data and create reports
– Ensure compliance with regulations

Learn more about benefits administration and how HR technology makes it easier.

Compensation refers to the financial rewards and benefits an employee receives in exchange for their work, including base salary, bonuses, and incentives. Benefits, on the other hand, are non-financial perks offered to employees, such as health insurance, retirement plans, paid time off, and wellness programs.

More simply; compensation directly relates to an employee’s income; benefits focus on enhancing their overall work experience and well-being.

Learn more about benefits and perks, and how they differ from each other and compensation.

Benefits administration software is primarily used by HR professionals and benefits administrators within organizations of all sizes. With benefits administration software, administrators can identify the benefits that employees want the most, provide the greatest value, and reduce overall costs.