Top Perks of Outsourcing Your Benefits Administration
April 16, 2024 | Winston
74% of large employers realize that outsourcing benefits administration alleviates the administrative burden on internal HR staff. This is especially important during company transitions, open enrollment periods, and times of increased workloads for HR and benefits teams. Enlisting the help of a benefits administration partner can give your HR department the flexibility and tools they need to advance in 2024 and beyond. Keep reading for some of the perks of outsourcing your benefits administration.
Collaboration and Customization
When it comes to your benefits offerings, collaboration plays an integral role in ensuring your benefits needs are met without having to overburden your team. A benefits administration partner can collaborate with each client to create an integrated suite of customized benefits administration tools. For instance, at Winston, we can work with your team to deliver these tools through our HRally® platform, available at work, at home, or on the go with our mobile platform.
A benefits administration platform like HRally® is also simple for employees to use as it gives them access to a direct line of communication to talk with a benefits expert about their offerings or questions. By collaborating with a partner, your benefits can be managed more effectively so HR teams can direct their attention back to connecting with employees.
Verification
A dependent verification audit is a process to confirm that all dependents enrolled in a group benefit plan are eligible for coverage. This important yet complex process often causes HR to feel overburdened with the amount of tasks on their plate. A benefits administration partner can help simplify this process through an integrated approach that allows for accuracy and efficiency.
At Winston, our knowledgeable team provides three levels of auditing to ensure the most accurate results. This provides the HR professional with a more seamless experience so they can focus on other, more pertinent tasks.
Reduce Overhead
Processes such as premium billing and reconciliation are often expensive and can take up more of your HR team’s time than you may have budgeted or accounted for. If your benefits administration partner offers tools to help streamline these services, it could save your organization more and reduce overhead costs.
HRally® can help streamline billing, compliance, and reporting for administrators in one place, negating the need for multiple partners and platforms, thus saving our clients time and costs on these complex and expensive processes.
While aligning with a benefits administration partner is an excellent way to streamline the tasks of your HR department and can even save money, it’s also important to find a partner that can customize its offerings to suit your organization’s unique needs. At Winston, our team provides tailored, collaborative solutions through our proprietary HRally® software. Behind each automation is a dedicated team of knowledgeable benefits professionals ready and willing to help with the daily demands of your HR team. Interested in learning more about our benefits administration services? Download our free white paper!
Disclaimer: This content is strictly informational and should not be used as specific advice on insurance products, legal, accounting, and/or tax related matters. Insureds should always contact the appropriate licensed professional for their insurance, legal, accounting, or tax needs.
