Administration Solutions
Powerful administration solutions which seamlessly automate complex
reconciliation tasks for Health & Welfare and Voluntary Benefit Programs
Vendor Management for Benefits Administration
Many organizations are struggling with the ever-changing healthcare landscape. HR
and Benefit leaders are finding it necessary to drastically change, modify or replace key components of their employee benefits plan. One of the most resource intensive tasks associated with managing these plan changes are the back office processes between an organization and their insurance vendors. These organizations today are seeking ways to improve the operational efficiency and reduce the costs associated with their employee benefits program.
Winston can provide an organization with a suite of administrative services which save time by outsourcing cumbersome paper based processes associated with managing employee benefit programs. By automating the complex interchange of benefit premium files among multiple carriers, our administrative solutions substantially reduce costs across several organizational sectors including Benefits Administration, Information Technology and Risk Management/HR.
Winston pioneered our administration solution in 1990 to address a specific client requirement to administer a multi-product/carrier voluntary benefits program via a single deduction code. The development of this technology known today as “consolidated billing” has helped this client manage a highly complex administration environment for more than twenty years and grown the voluntary program to over 125,000 participants.
Today our WAVEPointe™ Solution for vendor management can help streamline
and automate several critical administration processes within an organization by:
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Creating a single secure electronic interface connection to all carriers |
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Automatically providing eligibility/participation files via this interface |
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Automatically executing participation file audits |
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Managing dependent and beneficiary information |
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Confirming the “advise-to-pay” report of plan participant data through
each billing cycle reconciles with the invoice from your group benefit vendor |
The WAVEPointe™ Solution establishes secure, bi-directional Electronic Data Interchange (EDI) interfaces between the enrollment solution and an organizations HRIS/Payroll system providing seamless premium accounting and reconciliation services across Carriers, TPA’s and other 3rd party providers. An organization can transmit, monitor and manage the enrollment, eligibility and participation of the benefits program electronically and confidently, verified by over twenty robust reports which are generated automatically upon each billing cycle or payroll period.
Utilizing Winston’s Administration Solutions will help:
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Reduce IT operating overhead by eliminating the programming and support of multiple vendor connections replaced by a single bi-directional file interface which never changes |
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Save HR time by eliminating the need to manually enter or
submit files to multiple carrier websites |
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Save Accounting or Finance time and overall plan costs as a result of premium reconciliation auditing insuring participant enrolled data matches deducted data |
Vendor Management for Voluntary Benefits Administration
A comprehensive voluntary benefits program is no longer a “nice-to-have” it is an integral “must-have” component of any organizations Health & Welfare strategy
A recent study conducted by a large insurance company found that 55% of the 1,652 companies surveyed offered voluntary benefits, viewing them as a way to retain employees and keep employer costs low. The same study also showed that decision-makers are spending more time examining voluntary benefits to possibly shift some company-paid benefits to voluntary status.
One of the challenges benefit professionals face implementing a comprehensive voluntary program is that the administrative workload increases exponentially on their HR and Benefits administration staff.
Winston can provide your organization with a suite of voluntary benefits administrative services which will negate operational workload increases on the HR and Benefits administration staff implementing a voluntary benefits program while potentially
reducing or shifting the costs associated with an organizations overall benefits plan.
What is Winston’s Voluntary Benefits Administration Solution and how does it
help an organization’s voluntary benefits program initiative?
A multi-step process which Winston’s Voluntary Benefits Administration Services assume responsibilities for the following voluntary benefit program processes:
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Payroll deduction administration - via single-slot or multi-slot billing |
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Billing |
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Premium reconciliation |
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Accounting functions |
How does Winston’s Voluntary Benefits Administration Solutions
automate and streamline an organization’s voluntary benefits program?
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If your organization offers a variety if voluntary benefits from multiple insurance carriers, Winston can provide a single solution to enroll all benefits |
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Reduce multiple payroll carrier feeds into one deduction code |
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Administer your entire voluntary benefits portfolio via single slot billing |
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Follow up directly with plan participants and provide off-payroll or direct billing options for a missed deduction on the payroll cycle |
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Saving Accounting or Finance overhead costs by consolidating multiple premium accounting functions into one and eliminate all premium reconciliation functions by using our Administration Solution |
Who in the organization will benefit by utilizing
Winston’s Voluntary Benefits Administration Solutions?
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HR – only have to take instructions for one deduction code |
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Benefits – only deal with a single vendor regardless of product or carrier |
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IT - no longer have to maintain multiple connections to insurance carriers |
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Finance – only have to remit a single premium payment to one vendor |
If you already have a process in place for premium disbursement our administrative services can provide your organization with an “advise to pay” report so your organization may continue to remit premiums directly to multiple carriers utilizing our multi-slot billing solution.
No matter how complex your current environment is today, Winston’s Administration Solutions can help ease the financial burden and lighten the administrative workload for your organization.
We invite to you to employ the navigation menu on the right for a more in-depth exploration of related solutions offered along with Winston’s Administration Solutions.
Contact us to schedule a complementary benefits administration workflow analysis for your organization to determine how we can help you reduce the cost associated with the administration of your benefits plan.
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