The Benefits of a FBS Account
FBS provides comprehensive employee benefits solutions, from benefits consulting and administration to online enrollment and renewal.
Online benefit enrollment reduces the cost of providing services to your employees by eliminating the expenses of distributing and collecting paper benefits packets.
Online benefits enrollment also simplifies the enrollment process by enabling employees to self-enroll in benefit programs, review their benefits data, and report life event changes.
Benefits consulting services are essential in helping companies select, administer and sustain employee benefits. They can assist companies in creating plans that attract and retain top talent, promote wellness initiatives, reduce tax liabilities and boost business profitability.
A qualified benefits consultant should possess in-depth knowledge of all aspects related to employee benefits, including laws and regulations. Furthermore, they must comprehend the tax implications associated with various types of employee compensation so that companies can maximize their tax deductions.
Furthermore, an effective benefits consultant must be familiar with the health insurance market and risk and disease management issues. Companies often must navigate through the intricate details of this sector in order to get a plan that meets their requirements while staying within budget.
Benefits consultants primarily assist large employer clients in creating and implementing competitively priced employee benefit packages. This involves researching health insurance markets, regulations such as ERISA or the Affordable Care Act (ACA), as well as tax codes regarding employee benefits.
Benefits consultants must possess the required computing expertise in order to organize and analyze their data effectively. This requires understanding HR software programs, as well as managing information across multiple databases.
Many of these consultants work on commission, independent from insurance carriers and benefits organizations. This arrangement enables them to remain objective when providing recommendations to their clients.
Another aspect of a benefits consultant's job is providing ongoing support to their clients. This may involve answering queries year-round and processing changes in an employee's health status or life event.
Finally, benefits consultants can assist their clients in negotiating with insurance companies to obtain more favorable rates for their employees. This is especially beneficial to small businesses with high healthcare expenses and a large workforce, as it could allow them to pay less than they otherwise would have to.
Most benefits consultants work primarily with large employers, but some specialize in smaller businesses and self-employed individuals. These small-business benefit consultants may have stronger connections to smaller insurance providers and more knowledge of the group health insurance market.
Employee Benefits Administration
Organising the logistics of an iconic football game requires immense skill and precision. From organizing a parade to organizing floats that cross state lines and getting everything ready for prime-time television coverage, managing this complex event requires top-tier technology as well as plenty of manpower.
Midlothian ISD follows suit, offering employees a range of employee benefits from health insurance to retirement options and everything in between. The district's third party administrator, FBS, manages this trifecta.
FBS offers numerous advantages, not the least of which is its mobile app which gives employees access to benefit information while on-the-go. Plus, their customer service team is available 24 hours a day to answer queries and make suggestions. Plus, with each new demo account feature of this great widget you can try it out before investing any funds. Keeping up with FBS initiatives through their app has never been simpler!
The FBS Mobile App can be downloaded onto your mobile device through the Apple App Store and Google Play Store, or you may choose to save it directly onto your computer using a web browser.
Online Benefits Enrollment
FBS accounts can help ensure that your employees receive the benefits they deserve. Not only do they provide employees with the tools to research, compare and enroll in the best benefit plans, but online enrollment also streamlines employee administrative tasks by automating the process.
Enrolling for new benefits usually occurs during the open enrollment period, which begins each year at the start. This gives employees a chance to self-enroll, review their benefits data and report life event changes like marriage or childbirth.
HR can track employee participation and report real-time results to management. Many platforms also provide automated reminders to help employees stay on track and keep their benefits current.
When selecting an online benefits enrollment system, it's essential that employees can easily access their information and use the software. Some may prefer working from a computer while others require assistance from a benefits counselor.
A consistent user experience helps employees simplify the enrollment process and eliminate confusion during enrollment. As a result, you can increase enrollment rates and employee satisfaction by cutting down on time spent on administrative tasks.
OnePoint makes the enrollment process fast, simple and paperless for your employees with its step-by-step wizard and status bar. E-signature notifications and automatic alerts notify employees when their enrollment application has been approved by HR staff.
The platform also has system rules that only display plans an employee is eligible for and a progress bar to indicate their progress through enrollment. This eliminates errors and gives employees peace of mind that their information is entered accurately.
This software can be combined with a mobile application to offer employees the convenience of self-enrolling in their benefits on-the-go. Not only does this save employees time, but employers money as well, since there is no need to distribute and collect paper enrollment packets.
Skilled nursing facilities must offer their employees a positive employee benefit enrollment experience that is accessible, accurate and effortless to use. To do this, they need an online benefits enrollment system that is user-friendly with the capability of integration with other benefit services like payroll information or paid time off.
Cornerstone's Benefit Counselors can ease the transition to an online benefit enrollment system by introducing the software and training employees on its use. Doing so may reduce employee anxiety and boost morale during the initial year of transition.
When transitioning to an online benefits enrollment system, it is beneficial for employees to receive a personalized introduction and multiple methods of receiving alerts regarding the switch. Doing this will guarantee they are prepared to successfully use the new system in the year following its implementation.