Benefits Administration Solutions
Benefits Administration Solutions come in many shapes and sizes. Whether co-sourced or outsourced, Shortlister allows you to choose the providers and program components required to meet your wants and needs, including:
– Case Management Tools: Tools and/or software that helps to ensure that interactions with employees are tracked, that HR service is consistent and timely, that legal and regulatory compliance is maintained, and that all employee records are securely housed in a single location that is easily accessed by appropriately credentialed staff.
– Knowledge Management Tools: Tools that support and facilitate the collection, development, capture, storage and retrieval of organizational information and knowledge.
– Outsourced Service Center: The HR Service Center can serve as an extension to the employer’s HR department by providing both telephonic and electronic (web chat and email) support to employees and retirees for all HR and Benefit related questions.
– Carrier Billing: Carrier billing services may include billing for active, retiree and employees on leave, the generation of monthly insurance provider invoices, invoice reconciliation, generation of consolidated monthly bills, payment of provider invoices, and other related services.
– Carrier Reconciliation: Carrier reconciliation and exception handling involves regular or periodic reconciliations of the data used in the carrier processes, along with exception handling for any issues encountered during the reconciliation.
– Data Integration: Integration of carrier data with other Human Capital management functions and systems in order to have a single data set for analysis and reporting purposes.
– Automated Notifications/Fulfillment: Includes electronic generation and distribution of letters or other communication and packets based on employee-specific benefit(s) information requirements, needs and requests.
– Hard-Copy Notifications/Fulfillment: Includes hard-copy generation and distribution of letters or other communication and packets based on employee-specific benefit(s) information requirements, needs and requests.
– Decision Support: Decision Support services provide a vehicle for helping participants make decisions regarding their benefit elections and how to best use them. This may include health care medical selection, health care comparison, medical build-a-plan tools, medical plan rating, health care out-of-pocket calculators, FSA election calculators, search/network/comparison tools for physicians or hospitals, medical/disease/prescription information and analytical reporting tools.
– Integrated EOI: Evidence of Insurability (EOI) is required to demonstrate good health at the time a life insurance election of higher coverage is made. Administration includes identification of EOI participants, creation and fulfillment of correspondence, and enrollment into the desired election if approved by the carrier.
– Integrated Video: Ability of the platform/solution to support embedded video for instructional and/or informational purposes.
– Mobile/Tablet Support: Ability of the platform/solution to support access from mobile or tablet devices.
– Reporting and Analytics: The structuring of information in such a way that it can be used to measure and monitor business performance and the process of converting that information into knowledge and answers to key business questions.
– COBRA Administration: Processing of COBRA eligibility, required notifications and record-keeping related to the administration of continued benefits under the federal COBRA guidelines.
– Dependent Audit/Verification: Services and software that ensure only eligible dependents are added and maintained to the employer’s benefit plans.
– Direct Billing: Billing of benefit premiums that the employee is responsible for while on leave. Billing includes payment processing, remittance to the appropriate parties, and reconciliation.
– FSA Administration: Flexible Spending Account Administration includes maintaining elections, contribution amounts, account balances, claims processing and claims adjudication, as necessary.
– HRA Administration: Health Reimbursement Account Administration includes maintaining elections, contribution amounts, account balances, claims processing and claims adjudication, as necessary.
– H.S.A. Administration: Health Savings Account Administration includes maintaining elections, contribution amounts, account balances, claims processing and claims adjudication, as necessary.
– QMCSO Qualification/Administration: Review, qualify and administer Medical Child Support Orders (QMCSOs) which require coverage of a qualified dependent under an employer sponsored health plan.
– Imputed Income Calculations: Calculating the amount of deductions or benefits for which the participant should be taxed due to limitations on pre-tax deductions set forth by tax laws.
– Incentive/Surcharge Administration: Administration and calculation of benefits incentives and surcharges associated with specific plans.
– Retroactive/Arrears Processing: Retroactive/Arrears payroll processing and payments are necessary to process payroll payments for a pay period that has already passed.