Our electronic benefit carrier submissions ensure your data and any changes get to the insurance carriers timely, accurately and without any manual processes. Employee enrollment data is securely communicated using digitized enrollment forms or electronic data interchange (EDI). baronHCM’s workforce management software for electronic carrier submissions lets you:
Go Paperless—Get rid of your paper and manual benefits processing. It costs $109.48 to manually enroll a single employee in benefits each year, according to CFO.com.
Become Fully Automated—Automatically deliver enrollment and benefits data to your insurance carriers for:
Open enrollment • Life change events • New enrollments • Address changes • Terminations
Stop Overpayments—Stop premium overpayments for employees terminated from coverage. On average, one month of overpaid premiums cost $520 for a single employee plan and $1,462 for an employee family plan. That doesn’t even include overpayments for coverage beyond health insurance!
Our iSolved HCM software can handle a variety of submissions, Including:
Insurance—Securely and automatically communicate data to insurance carriers for:
Health • Dental • Life • Vision • Short Term Disability • Long Term Disability
Other Supplemental Insurance (Cancer, Hospitalization, AD&D, etc.)
401(k)—Eliminate the need to have to manually send or upload ¬les to providers every time payroll happens. The necessary data is securely delivered to 401(k) providers for enrollments as well as ongoing contributions.
Savings Accounts—Administrators and banks will receive enrollment and contribution data for:
Health Savings Accounts (HSAs) • Flexible Saving Accounts (FSAs) • Health Reimbursement Arrangement (HRAs) • Premium Reimbursement Accounts (PRAs)