Park City, Utah (PRWEB) November 14, 2013
Today, Zane Benefits, the number one online small business health benefits solution, published new information on how to implement defined contribution health benefits.
According to Zane Benefits’ website, implementation of a new health benefits program is key to its success. Educating and onboarding employees in a positive way makes plan management more successful in the short-term and in the long-term - and creates benefits that both the business and employees love.
Implementation Step #1: Enroll Employees
After setting up a defined contribution health benefits and downloading the Section 105 HRP plan documents, the first step is to enroll employees online.
With defined contribution software, this is a simple task of entering basic personal information and enrolling them in their employee class.
Implementation Step #2: Educate Employees
After you enroll employees, the defined contribution software provider should provide a custom tool kit to educate employees on: employee education defined contribution, the benefits of a defined contribution health benefits, the benefits of individual health insurance, how to request premium reimbursement and take advantage of the benefit, and how to get questions answered if they have them.
Implementation Step #3: Provide a Health Insurance Broker to Help Employees Select Plans
With "pure" defined contribution health benefits, employees purchase their own individual health insurance. For some employees, this is a new experience. Providing a health insurance broker or consultant to help employees select and purchase plans will help guide employees through the application process. This will also help employees choose plans that best fit their individual or family needs, such as keeping the same network of providers and balancing their premium with out-of-pocket costs.
Implementation Step #4: Plan for Reimbursements
According to Zane Benefits’ website, common ways include on payroll, direct deposit, or by separate check. Set up a line item in the payroll system. If using a Section 105 HRP as the foundation of your defined contribution health benefits, the line item will be classified as a tax-free business expense reimbursement.
Implementation Step #5: Communicate with Employees Early-On & Frequently
How and what is communicated to employees varies by company. But as a rule of thumb, keep the communication open between HR and employees, and check in frequently. Many businesses make assumptions about what employees prefer or understand when it comes to benefits.
About Zane Benefits
Zane Benefits was founded in 2006 to provide a revolutionized SaaS (Software-as-a-Service) administration platform ("ZaneHealth") for defined contribution health care. The flagship software provides a 100% paperless administration experience to small businesses and insurance professionals that want to offer better health benefits without a traditional group health insurance plan at lower costs. For more information about Zane Benefits, visit http://www.zanebenefits.com.