Saving Time and Money with Web Based Benefits Administra9on and Consolidated Billing Compliancy Group Webinar 11/11/14 NOTICE: Proprietary and Confiden)al. This material is proprietary to Benera)on, LLC. It contains trade secrets and confiden)al informa)on which is solely the property of Benera)on, LLC. This material is solely for Benera)on s internal use. This material shall not be used, reproduced, copied, disclosed, transmijed, in whole or in part, without the express consent of Benera)on, LLC. 1
Complex pressures on the healthcare system of late have created the demand for elegant administra)ve solu)ons ACA Healthcare System Group Coverage Erosion Vendor Fragmenta)on Commodi)zed Market Carrier Consolida)on Pricing Transparency Cost Increase 2
A company s benefits administra)on strategy is driven primarily by a combina)on of their number of employees and their desired control over basic HR func)ons Company Propensity to Outsource BenAdmin Desired Control over HR func<ons Insource Custom Co- source Outsource Number of Employees 3
Whether you leverage service partners or handle the HR func)on in house, here are some basic things you should be doing Test and tune your system in advance with pilot groups Give carriers plenty of <me to process your informa<on Encourage early enrollment and avoid last minute traffic jams 4
Sample issues to look out for on your bills Select Audit Samples Benera<on Med Name SSN (last 4) Premium Carrier ****** *** Med Premium Discrepancy ***- **- **** $836.82 UHC $369.15 $467.67 Notes UHC billing EE Single; Benera)on billing EE & Spouse ****** *** ****** *** ***- **- **** $514.14 IBC $1,282.22 - $768.08 ***- **- **** $425.86 Horizon $752.19 - $326.33 IBC billing the sub on 2 different plans Horizon billing EE & Child; Benera)on billing EE Single Minor adjustments made to maintain confiden)ality 5
Market u)liza)on of online benefits administra)on tools Distribu<on by Method of Enrollment % of Employers New Hire 28% 30% 11% 31% Life Event 19% 31% 9% 41% Open Enrollment 39% 30% 10% 22% Online No Admin Online w/ Admin Par)al Online No Online >500 Employees Source: SourceMedia Research 2013 6
The ACA has created an acute demand for payroll integra)on Key Benefits Administra<on Related ACA Areas Integrate with Payroll 7
A good benefits administra)on strategy does the following Phase 1: Streamline Phase 2: Integrate Phase 3: Innovate Gain real )me access to informa)on. Data can be viewed, changed, updated or reviewed by employees on demand Mul)ple func)ons with the core applica)on Links with service providers (payroll, COBRA) and direct to carrier (EDI) Create innova)ve audit tools that isolate carrier errors through learned algorithms Develop solu)ons for market changes (ACA etc.) 8
A lijle bit about Benera)on 9
Benera)on streamlines its cloud based HRIS plalorm using world class customer service principles Streamline Priori<es 24 hour turnaround Customer service is the most aspired to role in company Efficient workflow Current Offerings Consolidated Billing & Web Portal Combines mul)ple carrier invoices and enrollment applica)ons into a single invoice and universal employee applica)on HR- Port Provides customizable client portal for forms, benefit descrip)ons, eligibility informa)on, payroll deduc)on schedules, links to vendor websites, and much more Agency Management Solu<ons Organizes and manages benefit professional s customer data, customer benefit plans, rates, renewal informa)on, calls, etc. Proposal Development System Enables crea)on of customized, vibrant proposals, with data automa)cally archived for future use and/or reference Agency Adver<sing Tool Produces professional, color marke)ng pieces for communica)ng the abili)es of your agency either to exis)ng customers or prospects Employee Communica<on Tools Simplifies employee communica)on with a variety of benefit communica)on templates for use in conjunc)on with an employer open enrollment or for general employee communica)on throughout the year 10
Our system can be customized to meet your needs 11
Key tenets of our solu)on Data- driven analy<cs quan<fy savings Deep analyses to quan.fy financial impact for companies Technology to simplify choices Robust, mobile- ready decision support/ enrollment tools Nimble plaxorm Agile technology to adapt to market changes A personal approach when it counts Superior customer service with 24 hour turnaround 12
Contact us Presenter Contact: Chetan Bagga, Partner cbagga@benera)on.com Business Inquiries: Jeff Cohen, Partner jcohen@benera)on.com Benera<on, LLC 400 Berwyn Park, Suite 135 899 CassaJ Road Berwyn, PA 19312-1190 P: (484) 321-2470 13
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