Benefit Administration
Benefit Administration (BenAdmin) Solutions cover a broad category which includes almost any function that helps employers manage their plans and outsource the related manual work. Properly applied BenAdmin solutions most often increase efficiencies in day- to-day benefit transactions, improve accuracy of eligibility data, result in a better employee engagement experience and reduce need for paper. Online Enrollment is one of the most widely recognized BenAdmin applications. Other automation services include Consolidated Billing, Premium and Billing Reconciliation and Dependent Audits. Generally, the larger the number of transactions an employer experiences, the greater the value attached to BenAdmin Solutions, and the higher adoption rate by larger employers. BenAdmin applications can be purchased as stand-alone “point” solutions or as part of broader HR systems.