Deploying the Benefits Module in Oracle’s HCM Cloud ensures tight integrations between Core HR, payroll and benefits enrollment data across your health, wellness, and financial benefits offerings. However, it does not automatically integrate with your benefits providers, which can lead to some challenges for organizations.
One challenge is that carriers have proprietary formats, requiring unique and complex mapping of data. This becomes a burden, as it is time-consuming to write custom applications for each file to be sent to each carrier or administrator. There is also the financial impact of maintaining an internal IT department or partnering with outsourced programmers to manage the data exchange, as well as devoting resources to learn and understand multiple carriers’ or administrators’ proprietary formats. These proprietary formats have a deeper impact than many realize, as even “standard” HIPAA 834 formats have carrier-specific implementations.
To solve these challenges, you need a simple, secure and cost-effective solution for sending employee benefits enrollment and eligibility data to carriers and administrators.
BenefiX™ is a cloud-based data exchange service that greatly simplifies the integration of employee benefits enrollment and eligibility data by leveraging standard HCM Cloud extracts. BenefiX eases the burden of data integration, allowing your organization to focus on its core business and customer satisfaction:
- Translate the incoming and outgoing data formats quickly, efficiently and accurately
- Transform the data to the specifications required for each carrier/administrator with minimal effort or outsourcing
- Transmit the benefits data encrypted securely with dashboard oversight, processing quality checks, and status updates
Watch our 2-minute "BenefiX - The Future of Employee Benefits Data Exchange" video to learn more!