An Overview of Small Group Benefit Administration
While group insurance is considered a very important employee benefit, and offers many benefits to both employer and employees, managing it may be a bit of a hassle. That being said, a small group benefit administration service may be the solution for employers who don’t want to deal with the hassle involved, but still want to offer their employees all the benefits of small group insurance they possibly can.
In other words, it means that the insurance provider will take care of everything involved in the small group insurance process for the employer. So without further ado, let’s go through the things involved that are taken care of by the insurance benefit administration service.
Sharing the Group Details with the Employees
This is a basic, but fairly important part of the small group insurance process. When the employees aren’t aware of the plan details, or don’t understand what they mean, may end up making the wrong decision.
A group insurance provider that handles the administration of the plan would be in a much better position to explain all the important details to the employees in a way that makes it easier to understand for them. Similarly, it would also allow them to make changes to their contract easily if they want, which can otherwise be very confusing for them.
Handling Enrollment and Enrollment Changes
Many insurance benefit administrators would also handle the enrollment process as well as the enrollment changes in the event of marriage, divorce, death of dependant, new child, etc. Employees may be able to submit the file electronically, which would be considerably more convenient than submitting them manually through an employer.
Similarly, small group insurance administration would take care of the terminating enrollments, special provisions, as well as answer all the inquiries the employees may have about the plan, benefits or eligibility criteria.
The administrator may also handle the claims directly for your employees, especially when it comes to POP. However, most providers may still not handle the claims if the employee seeks the services of a professional that’s not a part of their network.
Similarly, managing billing and payments would get a lot easier as well, with the administrator taking care of most of the work involved.
The insurance provider handling the administration may generate invoices both online and as hard copies, and would make them available at different intervals, depending on the plan. Also, if any of the enrollees require special billing arrangements, the provider may help them make it a part of their contract.
Finally, they would also handle the payments by allowing the enrollees to pay using different payment methods as well as setting up automatic payments.
A Final Word
While there’s more to what we discussed above, we just wanted to give you an overview of what small group insurance administration means and how it can help you as an employer.
A good benefits administrator would help achieve a higher level of efficiency and a smoother integration between claims management and administration.