Morganite Industries Example
Morganite Industries wanted to more efficiently control the cost of providing benefits to employees. They wanted a system that would automate the completion of day-to-day tasks, such as addressing employees’ coverage-related inquiries.
The company adopted Benefitfocus technology to help them in these areas. The implementation process was streamlined because most of the data was already integrated with their insurance carrier.
Morganite performed a cost-reducing audit, and they discovered that key benefits of Benefitfocus software include:
- Improved employee productivity
- Improved HR administrator productivity
- Reduced coverage costs
The result? Within seven months, Morganite received a 178% Return On Investment (ROI). To learn more about how Morganite benefits from Benefitfocus technology, please see the Nucleus Case Study.
Simplified Benefit Enrollment
The BENEFITFOCUS® Platform eliminates the inefficiency and complexity of paper-based systems by allowing employers to manage ALL benefits online. Companies use the Platform to eliminate paper-based enrollment at Open Enrollment and throughout the year. They also leverage the technology to administer their benefits – from COBRA administration to dependent eligibility.
Employee Self-Service Eliminates Paper Forms
The Platform’s self-service online enrollment system allows employees to enroll at their own pace. If employees have questions during the process, they can immediately access informative videos, documents and information. If they are interrupted and need to take a break, they can save their work and finish enrollment later.
- Employee Self-Service Enrollment
- Reviewing Demographic Information
- Selecting Open Enrollment Benefits
- Selecting a Medical Plan
- Selecting a Coverage Level
- Answering Medicare Questions
- Answering Additional Insurance Questions
- Entering HSA information
- Reviewing HSA Calculation Details
- Reviewing HSA Information
- Reviewing Medical Benefits
- Selecting FSA Benefits
- Selecting Critical Illness Benefits
- Reviewing Completed Benefit Selections
- Review Benefit Elections and Provide Confirmation
Manage the Online Enrollment Process
There are numerous ways the Platform helps users manage and simplify benefit enrollment. The Platform uses employee categories (such as location, division, classification and so on) to configure benefits, users, plan rates and enrollment rules. For example, part-time employees may be eligible for medical benefits while full-time employees can enroll in medical, dental and life benefits. By using categories, the Platform can provide an unlimited number of benefit packages for each employer.
In addition, the Platform helps HR administrators save time with user-friendly online enrollment tools, such as:
- Task lists to manage daily workflow
- Task Launcher to quickly perform specific tasks for employees
- HR Toolbox to customize the employee experience with HR notes and custom pages, as well as enable additional features, such as W4, direct deposit and emergency contact information
- Reports to analyze data and trends
The Platform automates these processes and makes them flexible, allowing administrators to focus on HR, instead of worrying about how to apply complicated date rules, work through cumbersome procedures or try to read smudges on paper forms.
Manage Dependent Eligibility
The staggering cost of insuring employees and their dependents is a challenge faced by virtually all companies. Furthermore, the task of monitoring eligibility can be overwhelming, costly and time consuming. Benefitfocus can help you manage dependent eligibility verification and conduct one-time or ongoing audits for your company.
The Platform is the driving force behind all of our dependent eligibility and verification solutions. The Platform enforces age and other restrictions, notifies users of eligibility requirements, and provides reports that show which dependents will age out within a specified period of time.
Manage Eligibility Forms
Benefitfocus can handle the collection and management of Dependent Eligibility Requirement (DER) forms from your employees.
Verify Dependent Eligibility
Benefitfocus will review all DER forms and verify the eligibility or each dependent.
Notify Employees
Benefitfitfocus will update the Platform and notify employees.