Does your organization manually administer Benefits to all the active employees?
Can your employees change their Benefits elections at their will within no time? Or do they still need to manually process their requests, which consumes their valuable time and thereby reducing their job productivity at the end of the day?
How you, as an Administrator, handle the complicated and time-consuming task of handling 401k, medical, dental, life, disability, and other non-medical benefits like FSA, Pension plans, etc?
How you, as an Administrator, successfully provide employee-benefited customized options to all your employees?
Every year, Benefits administration is a Herculean task to all the Benefits Administrators; administering Benefit enrollment to the new hires, allowing open enrollment for all the employees before the start of the next year, and allowing employees do the change enrollment throughout the year, etc. If you are doing manually all the preceding tasks, then there are so many chances of miscalculations or wrongs without your knowledge. For example, what happens if an employee consistently changes his dependents status and wants to know how much he/she has to pay as a premium? Moreover, think what happens if this is the problem of a few ten out of hundreds of employees in your organization every month. Here, to tell the employee how much premium has to be paid after the new choices have been made, as an Administrator, you need to recalculate every time; this gives a chance for errors to creep-in; taking help of an automated system prevents the errors from creeping-in.
The only solution to all the preceding problems is a highly efficient Human Resource Information System (HRIS), which can process all your employee requests for Benefit elections, re-election, enrollment changes, etc, according to the business rules set by you, as an Administrator. A HRIS system, after preset by you, can display all the eligible benefit choices to all your employees according to their eligibility. It allows you to list out all the Benefit Providers, Benefit Plan Years, the premium rates of the plans selected, set eligibility for your employees to elect specific plans, etc, to your employees.
HRIS - Role based Views
HRIS system provides role-based views; users see information only related to them. If you login as an Administrator, you can have access to all the features, options, and employee-related information. Nevertheless, a Manager or Supervisor can access only the employees either directly reporting to them. An employee can view only his/her related Benefits information according to the eligibility criteria set by his/her Benefits Administrator.
HRIS - Security Features
Security-wise, HRIS is best; as an Administrator, you can mask employees’ SSN, their employer per pay, the employee name and address, etc. This kind of security is not possible manually, how much you try at your level best. Employees are provided a username and password with which he/she can access the system at their convenient time, make the changes in their benefit elections or status, etc, and send the same to their approver. The approver after going through the employee request can approve and route/ reject/ complete the request at his/her discretion. Every change in the request status is communicated to the employee through mail automatically. Therefore, transparency pervades throughout the process and both the employee and the approver are connected to each other through mails until the request process is completed.
The employee can view how much he/she needs to pay as premium on the screen, immediately, whenever a new plan is selected. The minimum and maximum rates set by their Benefits Administrator guide them to know how much they need to pay or deducted at the end of the pay period. Since employer contribution will also be there for some plans, the employee on viewing the amount contributed by the employer, can decide whether he/she can go for the plan or not.
Providing Benefits related information and processing the same for all the employees of an organization manually is a difficult task. Human Resource Information System (HRIS) help you to simplify this complex process with accurate calculations; no matter how many times the employee changes his benefits choices throughout the year. Not only, you can set and implement business rules, but it also allows you to implement security-related options like masking certain crucial personal information details of the employees. After gathering all the relevant information and doing the Benefit calculation, HRIS allows you to export the same as an update to your database for further reference.
Remember, Benefits administration automation saves you countless hours of manual work and innumerable piles of paperwork.
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