When an employee leaves, or makes a life event change, a form is typically filled out and the employee record is updated. HR/Payroll then logs into each insurance provider and inactivates the employee or updates the life event change.
The list of logins can be lengthy -- the health insurance provider, vision and dental providers, Workers's Comp provider, perhaps even a carrier for STD and LTD, the 401k plan, a Transportation pass, or carriers for other benefits offered.
Updating individual carriers takes a lot of time & effort - and failure to do so in a timely manner can cost you thousands!
We've seen far too many cases where updating these providers lags behind, often by several months. That means your company is spending money on a benefit that is no longer used.
We've got a solution for that - it's called Carrier Connects.
These automated connections push employee status changes directly to each carrier via electronic transmission, saving you the time and effort, and the wasted expense of a time lag.
Acceptance of automated carrier feeds are dependent on the carrier and size of your organization (i.e. 100 or more employees typically) and additional charges apply.
Contact us to learn more