Park City, Utah (PRWEB) December 28, 2013
Today, Zane Benefits, the number one online small business health benefits solution, published new information on defined contribution administration.
According to Zane Benefits’ website, defined Contribution Health Benefits are an alternative to traditional employer-sponsored health benefits, and growing in popularity with small businesses who want to offer health benefits for the first time. Employers use a Defined Contribution Administration provider for compliance and administration reasons.
While this first feature isn’t entirely a "software" feature, it is one of the most important considerations of offering Defined Contribution Health Benefits: employee education and company on-boarding. The Defined Contribution Administration provider should provide e mployers a tool kit to help your company:
- Understand the benefit
- Understand the benefits of individual health insurance
- Learn how to request reimbursement and use their participant portal
Because even when the benefits are awesome, many employees are not familiar with choosing their own policies -- and change can be hard. For this reason, look for a Defined Contribution Administration provider that:
- Provides custom on-boarding process for your company
- Provides an instant and electronic way to send Welcome Kits to employees
- Provides an online help and support center with tutorials for employees and the company administrator
- Has a responsive and helpful support team knowledgeable about Defined Contribution and health care reform
The Defined Contribution Administration software should allow a business to give employees their allowances monthly or at any time on an exception basis—with automatic monitoring of HIPAA and ERISA discrimination compliance rules. Deferred allowances should be possible for new hires, and suspended allowances should be allowed for former employees that employers hope to re-hire on a seasonal basis.
The Defined Contribution Administration provider should process claims within 24 hours and employees should be able to inquire about their claim via online chat, email, fax, mail, or telephone. No claim should be rejected for improper or incomplete submission without multiple contacts. All employee contact should leave clear audit trails and meet appropriate regulatory guidelines (e.g. ACA, IRS, HIPAA, ERISA, SAS 70). Look for software that provides “real-time” tracking on claims, available online 24/7.
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.