Top 5 Benefits Administration Software – Thanks to the appealing employee benefits package you can keep employees happy and boost their morale while keeping turnover rates low. On top of it, when employees are satisfied and happy, they perform better. Who would not want to maintain such positivity in the workplace?
Through proper benefits administration, you can continue to do so. It is here that a benefits administration software solution can come in handy to help your HR department administer the benefits plans. The solution must be integrated across your organization in order to reduce the overall administration cost and risk of error.
When you choose a benefits administration tool, employee self-service is another factor that you should consider during the software selection process. This will enable employees to access their information and reduce the strain on the HR team.
Best Benefits Administration Software
Virtual Benefits Administrator
The benefits administration software is an easy-to-use solution for benefits employees and administrators. With the user-friendly solution, you can quickly enroll new employees. Virtual Benefits Administrator comes with a range of capabilities, including life insurance administration, claims management, and accounting management.
The solution can be seamlessly deployed in major industries. Carrying a claim is easier with the accounting module. The software comes with unique authorization services that enable seamless tracking of approvals and requests.
With the Virtual Benefits Administrator, billing is much easier, as the solution covers all aspects of individual billing, invoice generation, automated processing of retro-adjustment, and configuration of rate information. Its call tracking services facilitate storage of call information.
eBASS
Ebass is a complete online employee benefits management solution that can be easily customized to cater to your brand requirements. It instantly tracks changes from multiple locations. The single source system constantly updates reporting functions. With eBASS, employees are empowered to go online and effortlessly manage their benefits selections. Fully customized reports can be generated to your specifications.
It works perfectly for human resource professionals that appreciate the benefits of accurate reporting of a centralized management solution.
With this benefits administration software, benefits administrators can empower employees to manage their own benefit changes. The solution is designed for HR professionals who want to spend less time on administrative tasks while focusing on the strategic direction.
ABM
The cloud-based benefits administration software comes with comprehensive benefits management features. ABM is a fully integrated solution that makes the management of billing and collection easier.
The solution makes the processing of multiple payment methods and policies a breeze. Additionally, other capabilities include HIPAA compliance, deduction management, claims management, custom reporting, and employee database.
Benefit Express
The cloud-based benefits administration software eliminates the need for paperwork and manual processing, storing all information in a secure location. Placed in a centralized location, the information can be accessed anywhere anytime. Benefit Express offers multilingual support so it can be accessed in any language.
Some other capabilities include HIPAA compliance, deduction management, a self-service portal, provider management, and FSA administration. It is easier to customize the solution with corporate branding requirements.
COBRA Administration Manager
The benefits administration software is designed for all sizes of businesses. It stores data in a centralized location that makes access to stored information easier for everyone.
The solution is designed with an array of features, such as HIPAA compliance, monthly reports, and a retiree billing program. COBRA comes complete with a built-in word processor, so users can effortlessly produce personalized documents.
Additionally, its billing function facilitates the creation of invoices, so you do not have to look for another solution for the purpose. Not only this, users can track COBRA premium payments hassle-free. The solution can generate 25 reports per month with a focus on different aspects.
Bottom Line
A benefits administration tool is a must-have for businesses of all sizes. Whether you are a small or large business, this tool can help you seamlessly establish, maintain, and manage employee benefits. This includes vacation time, pension plans, maternity leave, medical insurance, retirement accounts, and sick time.
The tool automates the complicated process of benefits enrollment and administration, eliminating some of the burden on the HR department while empowering employees.
If you are looking for the best benefits administration software, this list should come in handy. However, you might find it challenging to choose the best from the rest, given the similar types of features for all solutions.
At ITQlick, we’ve reviewed the leading benefits administration solutions available. You can rely on our judgment, knowledge, and database to pick the right solution. We are committed to connecting you with the right benefits administration solution so you can achieve success as your business grows.