Choosing the best employee benefits portal for your business can be a daunting task. You must find one that is user-friendly, meets all your business needs, and fits in your budget, amongst other things. There are many options to choose from, so how do you know which one is the best? Today we’re going over what to look for in an employee benefits portal so that your open enrollment period is as seamless as possible.
How to Find the Right Portal
Capterra is a free tool that businesses can use to find and compare different software, with hundreds of different software categories to sort through. When it comes to benefit administrative software, they provide a comprehensive list of software to compare against each other. They include short descriptions, links to their websites, and access to reviews. But they also use a checklist that marks off which software possesses any of the following product features.
- ACA Reporting
- Benefits Administration Outsourcing
- Benefits Dashboard
- COBRA Administration
- Deduction Management
- Disability Insurance Administration
- Employee Benefits Administration
- FMLA Administration
- Health Insurance Administration
- HIPAA Compliant
- HSA/FSA Administration
- Life Insurance Administration
- Online Benefits Enrollment
- Provider Management
- Retirement Plan Management
If your company is trying to narrow down its options, you can easily filter by your specific needs, like the features above. You can also compare up to 4 different softwares at once. As seen in the graphic below, it will put the various options into an easy to read format, allowing you to compare the products side by side.
As business needs and insurance requirements change, it’s essential to have a benefits portal that can do the same. There are three key points that can help your business evaluate which benefits software is the best fit for you. The software should be able to do the following:
Easily adapt and scale based on updated needs or requirements.
Things move quickly in the healthcare industry. New and updated benefits coverage and plan options come and go every year. It’s essential to have a portal that recognizes these changes and works closely with you to ensure you are giving your employees the best options to suit their needs.
The software should always be able to adapt to regulations and updates to health insurance on both a local and national scale. If your benefits software is not communicating these changes or making it easy to update these changes, it may not be the best one for you.
Make your life easier by helping automate your processes.
Your employee benefits portal should be a way to automate manual processes by giving employees more autonomy and control over their benefits, while also alleviating your human resources department. To maintain ease and consistency, you’ll want a portal that keeps things simple and automates enrollment steps or updates so you don’t have to. With automatic alerts and notifications to employees, they can take matters into their own hands, and you can cut out the number of touchpoints it takes to get them enrolled for their benefits.
Have plenty of support services to help both employers and employees through the enrollment process.
Lack of communication during the enrollment process can cause discourse during the process. It can lead to unhappy employees and confusion regarding what benefits are offered, what they are eligible for, and when deadlines are.
A benefits portal can offer comprehensive support and communication year-round, not just during enrollment periods. It’s also important to continually be able to track the analytics and data of your team to ensure you are always offering the best benefits to your team based on demographics, age, and family status. These things matter when selecting plans to offer your employees. For example, you aren’t going to need multiple plans that benefit 50+ if the average age of your team is under 30 years old.
In line with automating and streamlining the process, good communication via your benefits portal can alleviate your HR team from having to answer a plethora of questions. A user-friendly portal with a comprehensive help section allows people to get their questions answered quickly and by a knowledgeable team of experts.
Benefits of an Employee Benefit Portal
We’ve already listed how a good employee benefits portal can help your business and your team. The main benefit is that you no longer need to fill out physical paper documents to enroll for health insurance. Shifting to strictly online services is faster, offers more visibility, prevents critical errors from occurring, and saves your company time and money processing enrollment forms.
When comparing BeneQuick on the Capterra comparison chart (shown above), you will find it possesses many of the product features businesses are looking for—far more than competitors like Gusto and BambooHR. We pride ourselves on providing a customizable but straightforward enrollment portal that can be changed based on your business’ needs. We also cater to Third Party Administrators and Brokers to expand options to businesses of any size across various industries.
BeneQuick provides comprehensive training to ensure you know how to manage the portal long before it reaches the hands of your employees. You can prepare for 2021 enrollment with live online training, demos, and full documentation of how to use the portal. It’s incredibly user-friendly and quick to learn even for the inexperienced.
Nothing matters more to us than providing you with a pain-free enrollment period. We are bringing the next generation of enrollment software with user-friendly interfaces, consolidated billing services, seamless import/export options, and a price to fit your budget. For a FREE demo, visit our website here!