The Benefits of Outsourcing Administrative Services
Do you know it’s possible to outsource your benefits administration services? Most of us assume employee benefits is something we must keep in-house because, well… they’re our employees.
It’s possible to outsource this, and it may save you money and provide better benefits as well. Here are some of the advantages of outsourcing benefits administration services:
- For a small company, it may save you one whole employee FTE, the Benefits Manager, by outsourcing. Your Benefits Manager will not be required to keep up on current issues and trends and complex compliance requirements.
- For a large company, outsourcing ASO administrative services only frees up the time of the benefits team to work on strategic matters. The Benefits Manager can work on training and internal job functions and productivity.
- The Benefits Administration Service has a relationship with many insurance vendors and can keep up with those relationships, recommending changes to your company as they see advantages.
- The Benefits Administration Service can keep up with the information that must be communicated to outside firms, and may help you do it.
- The Benefits Administration Service can field questions from employees and save your staff the time this necessary function takes.
- If your company is facing an employee drain due to market competition, a Benefits Administration Service can help diagnose the problem and help you address it.
Today’s health insurance atmosphere is in a state of flux. It’s possible your company may be looking to save money on healthcare to maintain your current levels of coverage, and possibly levels of staffing. By outsourcing your benefits management, you will save money and gain the input of staff who are dedicated to learning about what’s new in healthcare. Additionally, your company can keep up with healthcare reform and technological advances which support outsourcing administrative services only ASO.
From the points above, you can see the benefits of outsourcing varies depending on the circumstances. In all cases, it’s possible to structure your current staffing to take advantage of outsourcing. An ASO administrative services organization like Elements Global Services is ready to discuss many ways they might help your company. Call them today to lighten your benefits workload!