Managing and administering employee benefits enrollment is challenging. It becomes an increasing challenge during open enrollment as employees make elections for the next plan year. In some cases, additional challenges can arise when there are changes to the Benefits Platform, carriers, benefit plans or organizational changes. Common issues are:
- Open Enrollment (OE) – Considerations
- Organization must determine when to send OE file.
- Organization must determine whether the carrier will accept ongoing files after OE file is sent.
- Account structure may change for the new plan year.
- Organization must determine when to resume ongoing files if paused.
- Changing Benefit Platform – Integration
- Organization is going through open enrollment and changing where employee election data is captured and stored.
- Legacy platform may be different than the platform being moved to, (i.e., variations between legacy/existing enrollment platform and Oracle HCM Cloud, Workday, Ceridian Dayforce, etc.), affecting data translation during transfer; data can become messy, disorganized or even lost as participant benefit election(s) data is no longer in a familiar or “known” segment and the data may look different.
- Changing vendors – Integration and mapping updates
- Organization is changing vendors, no longer will the organization be with carrier A, but they will now be sending medical data, for example, to carrier B.
- Changing plans and/or products – Mapping updates
- Organization is making changes to an existing plan to either increase or decrease a rate—for example, add/remove product options according to organizational needs.
- Acquiring or divesting – Mapping updates
- Organization is either acquiring another company, subsidiary, etc. or removing and will need to incorporate those changes to process employee benefit elections or the removal of those if applicable.
To address these critically important issues, SS&C has developed the BenefiX solution. BenefiX receives employee enrollment and eligibility data through its standard API, (Application Programming Interface,) and performs the transformation, translation and transmission to your carriers. Download our "BenefiX®" brochure to learn more.
