Employee Benefit Administration Services
Innovation HR takes the stress and effort out of managing your employees' benefits administration. Our comprehensive suite of benefits administration services simplifies payroll, benefits administration, workers' compensation, and other time consuming HR tasks while saving your organization money and decreasing the risk.
Advantages of Innovation HR Benefit Administration Services
- Handle time consuming employment-related administrative tasks.
- Transfer the risk associated with Workers' Compensation.
- Share employment-related risks through co-employment.
- Access to Human Resources and regulatory compliance knowledge.
- Implement competitive health and welfare benefits.
Innovation HR Employee Benefit Administration Services
- Process New Hires for Benefit Plan Participation
- Benefit Administration Plan Communications
- Provide Government Compliance Support
- Coordinate 5500 Preparation
- Coordinate Discrimination Testing to Ensure Compliance
- Maintain Employee Benefit Files in Accordance with Appropriate Requirements Including ERISA, HIPAA, and DOL
- Reconcile and Audit Monthly Insurance/ Benefit Invoices
- Interface Directly with Insurance Carriers
- Provide Employee Benefits Administration Support Center Services Including:
- Assisting Employees with Questions Regarding their Benefit Packages
- Assisting Terminated Employees in Obtaining HIPAA Certificates of Creditable Coverage from Carriers
- Provide Benefit Enrollment Options
- Manage Benefit Administration for Retirees
- 401 (k) Services
- Provide 401 (k) Plan and Investment Options
- Conduct Employee Meetings for 401 (k) Education and Enrollment
- Provide Loan Processing and Maintenance of Records
- Provide Distribution Processing and Maintenance of Records
- Provide Incoming 401 (k) Rollover Processing
- Answer all Employee Benefits and Claims Questions and Follow Up
- COBRA (Consolidated Omnibus Budget and Reconciliation Act)
- Provide COBRA Notification to Employee and/ or Dependants at Qualifying Event
- Collect COBRA Premiums
- Monitor COBRA Payments and Timing
- Remit COBRA Premium Payments to Carriers
- COBRA Enrollment
- Enroll and Terminate Individuals as Appropriate