Managing insurance carrier communications for employee benefits isn’t always simple for companies. In fact, a company with 1,000 employees may have an HR administrator spend almost half a year’s time manually managing employee benefits tasks like insurance carrier communication and mandated COBRA compliance. Companies managing COBRA need to track COBRA qualifying events, COBRA notification deadlines and coverage periods.
Companies like Inflection HR can help employers save time and money by automating these processes and giving HR teams back their much-valued time. Better yet, with an all-in-one, cloud-based HCM platform where you can track and manage anything from employee onboarding to payroll and compensation management to COBRA qualifying events related to employee offboarding.
Insurance carrier connectivity completely eliminates the manual process of communicating highly sensitive benefits data and connects you to a network of over 600 carriers. Whether you are communicating open enrollment data, benefits changes, or even employee address changes, carrier feeds can be configured to deliver this data via secure email or EDI feeds to your employee benefits carriers.
COBRA administration services eliminate the burden of constant upkeep and tremendously reduces the risks associated with non-compliance. In fact, automating COBRA ensures seamless compliance with federal and state continuation requirements.
When it comes to managing benefits data, having one system to access everything you need makes a world of difference. Not only is learning how to navigate multiple platforms a job in and of itself, but multiple systems cause confusion, disorganization and lead to errors when it comes to managing your employees benefits. This is especially true when trying to navigate federal or even state legislation like Arizona's mini-COBRA with ever-changing rules pertaining to employer compliance and initial qualification.
Companies working with third party vendors often share their inability to have direct access to carriers. Fortunately, our system offers full transparency into data flowing in and out, while giving users access to all communication. From allowing users to view benefits plans exported to the carriers to allowing them to track and audit notices, payments, and communications for compliance purposes. Our system allows HR admins to review and compare files at any given time.
Thanks to everything being all in one you are able to compare benefit packages that are being sent automatically to the carriers, while gaining peace of mind due to the solution actively monitoring the data and picking up on any changes.