Plan administrators, the unsung heroes of effective benefit plans. A plan administrator works behind the scenes keeping things working correctly with, enrolments, termination’s, and changes. Sounds easy, but if any of those task are done incorrectly issues develop. You will be quickly reminded how important those functions are. Get these right and everything can run remarkably smooth and the unsung hero label is applicable again.
1. Enroll Employees Before Becoming a Late Applicant
After their eligibility date, employees have 31 days to enroll in the pan before becoming a late applicant. Medical evidence is needed for late applicants to qualify for benefits. Enroll them prior and coverage is regardless of health.
If employees miss this crucial 31-day window it will impact their coverage or lead to a denial of coverage. Be sure to get employees on the path to enrollment as soon as they are eligible. 90% of successful plan administration hinges on enrolling employees prior to becoming a late applicant.
2. Remove Terminated Employees From the Plan
It is important to remove terminated employees from the plan as soon as they are no longer eligible for benefits. First off, you do not want to pay for people that do not work for you. Second, they really are not eligible for coverage and claim issues could arise which could cause a negative result for either party. Who wants a potential negative result in our lives when it could be avoided.
3. Review Employee Information
Employee information can change frequently and Plan Administrators need to keep the information up to date. Employee information on file is what is used to pay claims or issue benefit payouts.
Some of the changes to employee information might include addresses, dependents legal names, and the beneficiary. Encourage employees to update their information whenever things change. Plan administrators can update salary but if they are not informed of life event changes, issues can develop.
4. Outdated Forms + Business Processes
Insurers occasionally update their forms and business process. It’s important to double-check you’re using the most up to date forms and process. The invite to join for new enrollments is a perfect example of an evolving trend that might replace the enrolment form.
As a great employer, your employee turnover is likely low and just double checking before doing something without thinking might save you time.