The annual benefits open enrollment cycle is fast approaching...Are You Ready?
The annual benefits open enrollment cycle involves significant coordination and planning. Wise Consulting works with clients each year to prepare for, execute, and audit open enrollment and ongoing life events benefit changes.
If this will be your first year automating the open enrollment process, Wise consultants will provide an overview of Open Enrollment and Life Events functionality. We create the appropriate enrollment events/sessions, identifying triggers and workflow for each appropriate process - refined by your specific eligibility criteria.
Optimizing your plan configuration to ensure streamlined enrollments is crucial. Generally, rates must be updated each year. What other changes are occurring? New plans? Change in eligibility requirements? New carrier? Wise can make all necessary system changes and test them to ensure everything is set when your employees log in.
Working directly with the benefit providers you have selected, we obtain any new or changed file specifications and develop the export to run from your UltiPro or Ceridian system. You are kept up-to-date on testing and can be confident employee elections at the carriers and deductions will be accurate when the new period begins.
Auditing and Reconciliation
After enrollment closes, all changes are captured and we create detailed and summary audit reports for your benefits team to verify and follow-up on any outstanding items. Once the new plans and rates are effective, we provide further auditing of payroll deductions, ensuring the “starts” and “stops” work as expected.
Taking advantage of your system’s capabilities for benefits open enrollment and life event changes takes a significant burden off of your benefits team. Early planning is critical! Contact us to discuss your particulars.