Teamwork makes the dream work, right? Not so much when it involves spreadsheets, printouts, emails sent back and forth, countless meetings and having paper checks issued. That sounds more like a nightmare than a dream.
As plan administrators, you often rely on other members of your organization to ensure your employees’ benefits are properly managed and insurance invoices are paid on time. Having a platform that allows everyone involved to access the information they need – and even pay bills – is critical to working efficiently. That’s why it’s more important than ever to manage your employee benefits digitally.
Having a digital “source of truth” for managing your benefits has multiple advantages, including:
- Real-time access for multiple users
- Records of employee changes
- Payment confirmations for bills
- Reduction in paper and postage costs
- Simpler adherence to compliance regulations
By allowing multiple users to access and make employee changes and pay bills, you eliminate the need to shuttle documents from department to department. Users can log in, complete their task and keep the work moving.
“We recently enabled our clients to designate what we call a ‘Primary Plan Administrator’,” added Donna Chavis, Director and Senior Product Owner at Colonial Life. “They can now grant access to coworkers and manage permissions. Teams can collaborate easily, while still protecting key tasks and data.” By having a primary plan administrator, additional users with limited access and even view-only users, you can ensure tasks can be completed without risk of inadvertent errors.
Additionally, rather than making changes to documents that only live on a single employee’s computer, employee changes made digitally are visible to other members of the human resources and finance teams. And for tracking premiums and adjusting invoices, this is a game-changer. The Colonial Life for Clients portal, for example, reflects employee changes in real-time in billing statements, ensuring payments are accurate.
Lastly, by reducing the reliance on paper and emails, companies can save money and worry less about compliance issues. Managing benefits digitally maintains secure records that are available in one place to relevant stakeholders.
See how you and your team can get more out of your Colonial Life benefits by logging into the Colonial Life for Clients portal today.