Streamline Your Open Enrollment Process
08/24/17 | 9:00AM | Posted by TEAM Software
Your Open Enrollment process probably looks something like this:
- Develop and assemble benefits packets (forms, information, etc.).
- Create the benefit packages in your HR software.
- Communicate Open Enrollment details and deadlines.
- Distribute the right packets to the right employees.
- Collect completed forms by the deadline.
- Manually data enter election/waiver information and dependent and beneficiary information in your HR software.
- Notify your benefits broker.
- Maintain benefit updates for new and terminated employees.
- Rinse and repeat.
Seems likes a lot of work, doesn’t it?
What if you could eliminate a few of those steps and streamline the process, all while making it virtually paperless? Well, if you’re a TEAM client it’s possible. Ask yourself the following questions:
- Do you manage your employee benefits in the Insurance Benefits module of WinTeam — TEAM’s core financial, operations and workforce management solution?
- Do you also provide your employees access to eHub — our online self-service solution?
- Do you want save time and have a paperless benefit enrollment process?
If you answered yes to these questions, then here’s how you do it: Use My Insurance Benefits and the Enrollment Wizard in eHub. By adding these features, your employees can easily view the benefits they’ve already elected, update dependent and beneficiary information, and enroll in new or updated benefits as needed. As the employee progresses through the wizard, the costs are displayed so they know right away what their investment is. Pair this with the benefits your employees already have in eHub such as viewing paychecks, schedules and tax information, and you’re set up for increased employee empowerment and engagement. And, for those employees that need a little extra help, there’s an employee assistance feature so an admin can log in and enroll on an employee’s behalf.
For companies with distributed workforces, these online features are critical to simplifying your process. You can eliminate staff time spent distributing and collecting the forms, as well as the manual updating of employee records because benefit election and update data automatically flow from eHub into WinTeam. And, the employee payroll deductions automatically flow into payroll. Done and done. Benefit packages can be assigned based on employee type so you don’t have to worry about which packets go to which type of employee. You can also quickly see at a glance the completion status of each employee, making follow up a snap. Once the enrollment period ends, the information can be compiled for distribution to your benefits broker or carrier. Plus, for larger companies TEAM offers a service to create an automatic feed to send benefit information directly to your carrier.
If you don’t currently use the My Insurance Benefits module or Enrollment Wizard for your employee insurance benefits, reach out to your TEAM account manager for more information about how you can incorporate these features into your processes.