Choosing a benefits enrollment company is a high-stakes decision. Businesses evaluating service providers must consider several issues including increased expectation that they deliver better technologies to stakeholders, rising threats of cyberattacks, the growth of voluntary benefits, and the escalating health care costs.
Businesses should also decide if they’ll bundle benefits enrollment administration with payroll services or combine those functions with brokerage or consulting services in outsourcing arrangements that are more comprehensive. Of course, it’s not an easy decision, given the unprecedented number of benefit enrollment firms out there.
How do you choose the right benefit enrollment company for your needs? Here are the things to consider when selecting one:
- Comprehensive Benefit Communication
The best benefit enrollment company is the one that will help you get enrolled for the best healthcare benefits at the most affordable rates. This type of company will also help you save money, which is one of the most important things to a business that’s on a budget but still wants to retain its finest employees. Some companies will even allow you to add on a doctor visit as part of your benefits if you wish.
Choose a benefit enrollment company that can help you and your employees stay current with all of the new regulations that have come about, such as the Part D program of Medicare by offering comprehensive benefit communication.
The Part D program is one of the biggest changes to Medicare, and this is why so many people don’t understand how the system works. They think that they’re covered for the same things that they were before they started working, but this isn’t the case. The Part D program will actually help individuals save money by helping them to lower their costs as they adjust to taking a lower cost of living supplement. The best benefit enrollment companies will provide your staff a complete understanding of the benefits package they currently have, which is vital to reducing the workload of your HR department and enhancing employee satisfaction.
- Variety Of Options For Communication
The best benefit enrollment company is one that offers a variety of enrollment methods, so you can choose the one that’s right for your business. They’ll give you a variety of choices from web-based communication, paper, to phone, so that you and your employees aren’t limited to just one communication platform.
Some of the best benefit enrollment firms even have advanced call centers to provide support for enrollment and cater to questions. Others even take the communication options they’re offering to another level by providing bilingual services. If you work with a benefit enrollment company that offers a variety of communication options, you’ll always get the information you need quickly, especially regarding open enrollment dates.
- Benefits Enrollment For A Variety Of Plans
Healthcare insurance has increased exponentially over the past few years. Assuming they pay their entire deductible, a family of four to five is now predicted to spend around USD$24,000 to secure health insurance. That being said, employees now look for a straightforward solution to fulfill their needs for healthcare while lowering their deductible. The best benefits enrollment company can help you obtain your finest employees and retain them by assisting you in designing the benefit plan you’re going to offer. They’ll provide a customized enrollment solution to your organization that’s based on this crafted benefit plan. Expect the custom solution to cover a wide variety of vision, dental, and healthcare plans.
- Ongoing Support
The best benefit enrollment company is one that makes you feel like they care about your needs. So, when looking for the one, make sure that you choose a service provider that offers ongoing support from the setting up of your benefit plan to the orientation of new hires through their benefits administration system and call center. Make sure that they offer real value and not just more services than others. It’ll give you the peace of mind that you need because you know that you’re working with a company that’s going to provide you with great service and will be there to help you through any issues that may arise.
- Robust Administration System
What a system for benefits administration does is simplify the benefits administration process by providing a range of resources all in a single place. When choosing a benefit enrollment company, make sure to work with one that has access to a robust system. Note that a robust administration program can efficiently process all annual enrollment, new hires, as well as employment events. This also allows you and your staff to view plan descriptions and statements on your mobile devices.
The best benefits enrollment company makes the entire process of benefits administration easy and fast for your HR. For your employees, everything becomes simple to understand. Whether your business needs a fully outsourced solution or just requires support, working with the right benefits enrollment firm can save you time and money. Their services will help you obtain and retain the best employees in your organization.