NEW YORK, July 10, 2018 /PRNewswire-iReach/
Benefits administration company, Clarity Benefit Solutions, discusses how brokers can help clients save on benefit administration costs.
The costs surrounding administering benefits can pose a challenge, especially if a client is not thoroughly versed in the process. This is where brokers can prove themselves invaluable by offering education and support. Brokers can apply these tips to reduce benefit administration expenses.
The first step in helping clients save on their benefit administration costs is analyzing their current offerings to employees to hone in on insufficiencies, such as benefits that are hardly used or not used at all. Eliminate those offerings so they are not costing clients money and focus on those benefits that employees will take advantage of.
Brokers should provide their clients with benefit information in a multitude of formats, so they can disseminate program details to their employees, including print, emails, webinars, workshops, and meetings. Establishing social media platforms to share information is a must in today's business climate. Employees who are given enough information to make informed decisions will cost the client less money when it comes to administering these benefits.
Speaking of technology, brokers should encourage their clients to utilize decision-making software to help their employee select their benefits. Features such as interactive decision support tools can assist employees with choosing benefits that best suit their individual needs. Employees can learn about their options and receive the assistance they need to ensure they are making the best choice for their specific situation—another way to reduce administration costs.
Recommending an online platform to clients will also help them avoid errors, thus reducing the costs of administering benefits. Features such as automatic payroll and carrier update and streamlining of administrative tasks will free up HR employees to perform other duties, as there is no need to generate unnecessary paperwork or enter data. Plus, there are no files to form.
Since an online benefits platform allows access to a national network of suppliers that directly connects employees to their plans and their carriers, clients will not have to worry about compliance and the added costs that may come with not keeping up-to-date with industry changes—another important cost-reducing measure.
About Clarity Benefit Solutions: Clarity Benefit Solutions provides technology that makes the health insurance plan selection process fast, easy, and straightforward. For over two decades, we have provided clients with industry-leading technology, compliance, and exceptional customer service. Our offering is designed to save time and lower the costs of managing benefits while also promoting employee self-service and automated ACA compliance.
Media Contact: Calvin Clark, Clarity Benefit Solutions, 732-428-8272, email@example.com
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SOURCE Clarity Benefit Solutions