Best employee benefits administration software in 2024

Employee benefits aren’t one-size-fits-all. But the best benefits administration software will have flexible benefits options to meet the budget of any business, along with user-friendly tools, easy enrollment, and licensed advisors to guide you through the process.

We’ve put together a handy guide to compare all the best employee benefits administration software to help you make the right choice for your growing business.

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FAQs

Benefits administration software makes it easy to manage benefits for your team. It’s a central location that lets you choose which plans to offer as an employer, allows employees to select a plan that’s best for them, and keeps you compliant with important regulations like ACA and COBRA. The best benefits administration software should also seamlessly sync to payroll to avoid manual errors and duplicate entry. 

Benefits administration software will both save time and reduce errors while keeping you compliant with complex healthcare regulations. In addition, benefits administration can significantly enhance the employee experience. BA software makes it easy for employees to choose their preferred benefits and make changes when they need to. Keeping employees happy and healthy is the best way to both retain top talent and attract the talent you need to grow. 

As an employer, benefits administration software can also provide valuable data on which plans your employees choose, which benefits they utilize, and which ones they don’t. This means you can make informed decisions to improve your offerings and strategies. Best of all, streamlining processes, reducing errors, and making data-driven decisions about your offerings can be a real money saver in the long run.

A broker is who you traditionally had to use in order to secure health insurance for your employees. They’re the liaison between your company and the carrier who provides your insurance. A broker can help you do things like set up and renew policies, answer employee questions, and help with compliance. Benefits administration or hybrid benefits administration provides more robust support for a wider range of benefits like 401(k)s, HSAs, family leave, paid time off, commuter benefits, and more.

The best employee benefits are those designed with the expectations and priorities of a diverse workforce in mind. While older generations may be more focused on traditional benefits like health insurance and retirement plans, younger generations may care more about non-traditional benefits like health & wellness perks, family leave, commuter benefits, financial planning tools, and even housing assistance. 

The top 10 overall benefits are: Comprehensive health insurance, paid time off, dental insurance, flexible working hours, retirement plans, commuter benefits, tech benefits, family planning benefits, professional development opportunities, and wellness benefits.

Prices start at just $46/month

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