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The Advantages of Online Benefit Administration

December 4, 2014 by The Insurance 411Leave a Comment

Online Benefits AdministrationOver the last several years even smaller companies have been taking benefit communications and decision-support systems online. With a voluntary benefit program, your benefit vendor will handle all administration, including employee enrollments, questions and claims problems. Selecting a benefit vendor with a robust online support system can enhance satisfaction with your voluntary benefit programs.

Some of the features an online benefits portal can offer include:

  • Plan selection tours: Interactive, guided tours help employees select the right plans.
  • Dynamic plan comparison: Shows how different plans compare on features, coverage and cost.
  • Cost estimator: Allows employees to compare relative costs under the different plans available.
  • Life insurance calculators: Helps workers determine how much coverage they need based on their family and financial circumstances.
  • Benefits self-service: Employees can complete transactions in a single session.
  • Availability: Employees can access benefits information 24×7 via the web for use at home with spouse or partner.
  • Cost savings: Paperless enrollment eliminates printing costs.
  • Helps drive employees to right plans: A well-designed online benefits portal can increase employees’ satisfaction with their benefit selections.
  • Wellness content: Helps employees take more control over their healthcare.
  • Analytics and dashboards: HR or benefits administrators may be able to use site trends and other statistics to assess the program’s effectiveness and how voluntary benefits tie into employer-sponsored benefits.

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