Technology Trends and How They Transform Employee Benefits
August 2, 2018
Technological advances are coming at us faster than ever before. Remember what your life was like just 10 years ago? You didn’t binge-watch on popular streaming services (because the most popular ones were still DVD-only services), you probably didn’t own a smartphone and you likely only read books as paperbacks or hardcovers. Suddenly, 2008 seems like a long time ago!
Technology has impacted more than just your personal life. Benefits technology has also changed dramatically, helping to make administration easier for you and access easier for your employees. Keep reading to learn about a few trends that have made the most impact on employee benefits, and complete the form below to find out how the mobile experience has transformed pre-tax plans.
Simplified enrollment, renewal and mid-year changes
When it comes to open enrollment, what was once a time-consuming process has become simple thanks to advancements in data transfer. By integrating with human resource information system (HRIS) vendors, third-party benefits administrators seamlessly exchange data with clients to make open enrollment and plan renewal efficient, all while reducing the risk of data errors.
When changes to an employee’s status do occur, such as when one experiences a qualifying event, administrators can now have integrations in place to streamline the process of providing them with the necessary paperwork.
Fast answers to questions
The growth of the internet has revolutionized the way we communicate with each other. It’s also enabled businesses to be more proactive in their customer service.
That thinking inspired the development of our Discovery Answers™ Participant Knowledgebase. Your employees can find fast answers to questions or search popular topics for more information on their employee benefits plans — all from their online account! Benefits technology like this helps your employees learn more about the plans you offer and encourages participation.
Enhanced mobile experience
Did you know that 20 percent of all Americans are smartphone-only internet users? That percentage has been steadily climbing for years, and it has more than doubled in the last five years. With that level of dependence on mobile devices, it’s important administrators provide a comprehensive and easy-to-use mobile experience. And innovation hasn’t slowed in the industry For example, we recently released an update to our Benefits Mobile App, which now gives participants the ability to verify an expense’s eligibility by scanning its bar code with their phone’s camera and includes enhanced HSA investment options. Your employees can also use our mobile app to:
- Check their balances and monitor account activity.
- Set up instant notifications and upload documentation with their phone’s camera.
- Request a mobile distribution from their Health Savings Account (HSA).
Would you like to find out how an innovative mobile experience can transform employee benefits for your employees? Complete the form above to download our free mobile app resources.