3 Reasons to Automate Benefits Data to Insurance Carriers
As benefits packages have grown richer, HR admins are tasked with communicating all of the ad-hoc employee changes to multiple providers in multiple systems which often have different file types and requirements. Whether this process is completed in-house or goes through a third-party vendor, it’s often laden with errors, is time-consuming and a hassle to manage. A company with 1,000 employees may spend half-a-year of admins’ time managing carriers manually, which can also result in $66K of potential liability exposure if there are any errors. Fortunately, easy-to-integrate technology can automate the delivery of enrollment and benefits data to insurance carriers and HR teams are able to make better use of their time.
Here are the top three reasons why organizations should consider automating their Carrier Connectivity with our solution from EverythingBenefits.
Eliminates Manual Labor
Our Carrier Connectivity solution eliminates the manual process of communicating highly sensitive benefits data and connects you to a network of over 600 carriers including Aetna, CIGNA, Blue Cross Blue Shield and hundreds of others. Whether you are communicating general benefits data, open enrollment, or address changes, carrier feeds configured by the EverythingBenefits team are securely delivered to benefits carriers. This process is completed through either EDI forms or EverythingBenefits’ proprietary Smart Forms technology.
Adapts Files to Carriers’ Format
Carrier Connectivity takes care of formatting the data into any required carrier format, catering to carriers’ specific requirements. Whether your group has 10,000 or 50 employees on the plan, you can get up and running in as little as 8-14 weeks. With digital enrollment forms, it can be cut down further to 2-3 weeks or, in some cases days, and can work for any group size.
Provides Direct Access to Carriers
Companies working through third party vendors often share their inability to have direct access to carriers and being reliant on vendor’s availability. The Carrier Connectivity solution offers full transparency into benefits plans exported to the carriers, allowing HR Admins to review and compare files at any time. The solution proactively and continuously monitors data for changes, taking care of all of the work. The direct access helps eliminate the risk and time associated with communicating highly sensitive benefits data, helping HR Admins reclaim their time.
Learn more about our solutions for Carrier Connectivity and help improve the productivity of your HR team!
Content provided by EverythingBenefits