Benefits administration software offers employers a multitude of advantages, such as streamlining the entire process and educating employees on how to make the best selection possible for their situation. It can also be useful to help employers maintain compliance. HRA administration company, Clarity Benefit Solutions, shares the following benefits of benefits administration software for maintaining compliance.
Clarity’s Affordable Care Act (ACA) management tools translate into full service 1094 and 1095 reporting and monitoring for clients. This is essential for helping employers keep up with ever-evolving changes that are bound to happen over the course of time. Plus, Clarity COBRA automates each stage of the benefits lifecycle as it relates to COBRA administration. Dashboards manage complicated eligibility regulations and costing calculations, which is a must to help employers remain compliant.
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Benefits administration software also helps to increase employee engagement, automation, and compliance—with features such as paperless online enrollment as well as complete payroll and carrier connectivity. This streamlines the entire HR, benefit, and payroll process. These tools also provide automatic updates pertaining to eligibility, life events, and terminations. Benefits administration software also automatically updates carriers, payroll providers, and third parties without the need for redundant data entry to further assist compliance maintenance.
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The proper decision-support tools allow employees the ability to access benefit information easier and facilitate more informed decisions when it comes to what benefits to select. These tools will provide them the proper information to help them select a plan that coincides with their current health needs, medical history, and anticipated medical treatment. Technology tools can also provide employees with the ability to easily compare plans and make the benefit selection process simpler. And, thanks to recent benefits in mobile technology, it is possible for employees to select benefits, view plan information, and check balances in a single app on their smartphone.
About Clarity Benefit Solutions: Clarity Benefit Solutions HRA Company provides technology that makes the health insurance plan selection process fast, easy, and straightforward. For over two decades, we have provided clients with industry-leading technology, compliance, and exceptional customer service. Our offering is designed to save time and lower the costs of managing benefits while also promoting employee self-service and automated ACA compliance.
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