The following infographic outlines the must-have features of benefits administration software for third party benefits administrators.
If your solution doesn’t have all of these, it may be time to upgrade.
Top Features of Benefits Administration Software
Looking to upgrade your employee benefits administration solution? To streamline your workflow and increase the bottom line, look for the following features and capabilities:
MUST HAVE FEATURES & CAPABILITIES
1. A comprehensive cloud-based platform for CDH and COBRA administration
- FSAs, including Dependent Care FSAs
- HSAs
- HRAs including ICHRAs, QSEHRAs
- Transit/Commuter accounts
- COBRA and billing
- Benefits debit cards
2. Quick and easy account setup
- Set up new plans with a few clicks
- Easily customize contribution schedules, reimbursement and card settings
- Simplify new employer groups or plan years
3. Robust COBRA capabilities
- Event-based notice generation
- Automatically monitored COBRA-related events
- Time-frame tracking
- Flexible loss-of-coverage options
4. Simplified, all-in-one HSA management
- The ability for HSA owners to self-certify expenses
- Integrated investments, with available educational materials
- Custodial banking platform
- Electronic storage for keeping receipts and documentation
5. Non-discrimination testing
- Test data already in the system or imported for testing purposes
- Easily adjust participants’ compensation limits
- Print and share test results, including recommended plan changes
6. Global record keeping
- Maintain single employer and participant records for CDH and COBRA administration
- Set up single benefit plans with different CDH and COBRA attributes
7. Reliable customer support
- Fast response
- Knowledgeable service reps
- U.S.-based phone support
- Online FAQs and self-help materials
- Rapid escalation of problem-solving when necessary
8. Employee education and engagement program
Help employees:
- Understand the benefits their employer offers
- Choose which benefits to elect
- Maximize their benefits throughout the year
- Learn through print, video, digital and social media
DataPath, Inc is a leading provider of cloud-based benefits administration solutions. Summit is the industry’s only platform for seamless CDH account and COBRA billing administration. Get your FREE demo today!