If you are still collecting paper benefits enrollment forms – now is the time to switch it up. We get it – change is daunting – but you’ll thank us for this one! Using an online benefits enrollment system will simplify and streamline the process. This translates to greater efficiency and even compliance.
While there are many reasons why it’s a great idea to go digital with your benefits enrollment process, check out these top five:
It saves time.
And, quite frankly, who couldn’t use more time? I’ll bet both your enrolling employees and your HR team members processing benefits will thank you for this one.
When you store plan details, enrollment forms, instructions, and benefits elections in one place, employees and HR teams can easily reference and locate this information. Most robust enrollment platforms will answer frequently asked employee benefits questions within the enrollment tool. Smart tools like these save your HR team time answering questions. Additionally, online benefits platforms eliminate the time needed to prepare, distribute, and collect benefits paperwork. Likewise, it saves time manually inputting the data into the insurance carrier’s systems. Industry research shows that self-service benefits administration online by employees results in 15% in time savings for HR staff.
It saves money (and trees).
An old-school, paper-based enrollment process involves printing, distributing, and collecting every benefits packet. The cost can add up, especially when considering mailing costs for remote employees. But, with online enrollment, forms can be completed and stored electronically, eliminating printing and postage costs. In addition, online systems produce a single record, which you can deliver electronically to all insurance providers simultaneously.
It will reduce data entry mistakes.
Anytime we see the word “manual” in a process, we cringe. It’s a red flag for mistakes, and benefits data entry is no exception. Unfortunately, these mistakes can prove costly and detrimental to employees who assume coverage and incur expenses. Electronic benefits enrollment tools reduce these errors as employees enter their information. They’re more likely to enter it all correctly or recognize any errors in their personal data. Also, eligibility rules are applied automatically and consistently.
It simplifies the process.
Online portals allow employees to manage all aspects of their benefits enrollment. These portals enable them to compare plans, enroll electronically, and access and update their information. They have access 24/7 from any device with internet access, including their phones.
It offers reporting tools.
Most electronic benefits enrollment platforms offer monitoring and reporting tools. These tools track your employees’ benefits selections and enrollment progress. They can also deliver reports to gain meaningful insights on benefits utilization. By understanding which benefits employees choose and use, you can make smarter benefits decisions in the future.
Using an online benefits enrollment system boasts advantages for your employees and your HR team. Digital enrollment platforms make it easier, less time-consuming, and more efficient for employees to manage their benefits. Make the benefits of working for your organization stress-free and reap the benefits of an improved employee experience.