Employee benefits administration is an integral part of your human resources department’s personnel management responsibilities. It’s imperative that your benefits programs are managed accurately and efficiently. Employees need to be properly advised, and important legal guidelines must be followed. Periodically reviewing your company’s existing policies and benefits enrollment will ensure that your operations are in compliance and help prevent your company from making costly errors.
Ensure Legal Compliance
Employer obligations with some benefits such as health insurance are affected by periodic legislative changes, such as the affordable care act. It’s important for companies to continually review their health insurance plan enrollment and administration procedures to ensure that they’re in compliance with federal and state-mandated requirements.
In electing group coverage benefits, some employers end up paying for features or services that their employees don’t actually need or use. Source: https://www.isurepro.com. Identifying and eliminating benefits admin mistakes in addition to finding out about what your employees most value will help your company to budget for benefits cost-effectively.
Get Expert Help and Analysis
Your company will benefit from working with a broker that specializes in group policy advisement for employers and is knowledgeable about employment benefits liability. Their expertise can assist your organization in practicing more effective benefits management and reduce unnecessary exposure to benefits administration liability.