As a plan administrator, you look for answers to employee questions, review and pay invoices, and countless other tasks related to benefits administration.
Tools like the Colonial Life for Clients portal help manage employee benefits more conveniently, which equates to cost savings for your company.
By offering the ability to make employee changes online, reconcile invoices in real-time to ensure accurate premiums and then submit payments online, the Colonial Life for Clients portal removes opportunities for costly mistakes, including underpaying billing statements. It also eliminates administrative costs related to keeping paper records and mailing checks. These features combine to prevent interruptions in coverage, provide time savings and reduce costs associated with benefits administration.
“Having the right technology helps plan administrators save time, reduce errors and better assist their employees. That efficiency translates to savings,” said Donna Chavis, a senior product owner at Colonial Life. “From saving time to reducing errors – including potentially costly billing mistakes – these tools can save you and your company money.”
In the 2022 PricewaterhouseCoopers HR Tech Survey, nearly a quarter of respondents listed benefits as one of their top challenges. And when asked about outcomes from using digital HR tools, 82% said their company saved money and 86% said they improved productivity by implementing online HR systems.
Of course, there’s always a human element to benefits administration. Digital tools can’t replace people. But they can assist plan administrators to complete more tasks in less time and reduce errors. A workflow which includes a team member who reviews a billing statement before they schedule an online payment ensures accuracy while removing the inefficiencies of writing and mailing checks.
As an employer or plan administrator, your time is valuable. Small tasks take up hours that can be better used to grow your business, generate new ideas and cultivate your talent.
There’s a dollar value for all of that.
Digital tools are a must to manage your benefits. Be sure to enroll in our monthly webinars, find answers to common questions in our Help section, make employee changes, and pay your bills. That’s how you can save time – and money. Register or log into your Colonial Life for Clients account today.