Benefits administration can present signigicant challenges for employers. Limited HR systems and manual process too often result in time-consuming, expensive, and inefficient benefits administration. Organizations are always looking for ways to reduce costs and save time associated with employee benefits – with 59% of employers reporting that it’s important their benefits systems can interface with their carriers’ systems.
Our HR application allows your employees to quickly and easily enroll in beenfits programs with online self service, which can reduce costs by 80% when compared to manual enrollement.
And now, through an integration with eBenefits Network, you can automate the process of communicating employee enrollments diretly with your benefits carrier.
With Kronos Saashr application residing on a single database, processes associated with benefits deductions and other changes to payroll data within the payroll application can be automated as well. This integration enables you to reduce the time, cost, and complexity f your benefits administration. It also:
Available directly within Kronos Saashr’s Marketplace, the eBenefits Network service enables companies to securely and automatically transmit benefits enrollment data between the company’s HR application and benefits insurance carriers. eBenefits Network supports over 200 insurance carriers within the U.S. and Canada offering various benefits, including health, dental, vision, life, disability, 401(k), and COBRA.
The eBenefits Network (eBN) is a cloud-based service that automates electronic benefit enrollment data management through seamless, secure, and compliant integration of your workforce management system and all your benefit insurance carriers and providers. eBN simplifies benefits administration, reduces errorrelated premium costs, and improves employee service by automatically extracting the enrollment data already in your system and sending it to your carriers on your behalf. It also reduces HR’s administrative burden by eliminating the need to prepare and update enrollment reports for carriers or perform duplicate data entry into carrier web portals. And because eBN supports over 200 insurance carriers, including health, dental, vision, life, disability, COBRA, and other types of plan providers, you can trust the service to meet your evolving benefit carrier integration needs.
According to CFO.com, the average cost for an HR staff to manually enroll an employee in a benefit plan is $109.48.
Cost resulting from benefits administration errors can easily approach $8,000-$10,000 per year.