Benefits
Administration
Service Features
The beauty of our Human Resource Accounting
program is that our benefits administration services are all
directly coordinated with our payroll. Payroll events which
trigger Benefit Administration transactions are automatically
taken care of. Data integration improves both the
integrity and efficiency of data.
Our Standard Services
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We begin our service by
auditing our client’s eligibility, contribution,
participation, waiting periods, and rates to assure
consistency between practice and policy.
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We verify current employee
and dependent eligibility and enrollment.
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We calculate and verify
employee deductions and employer contributions.
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We calculate and validate
rates and benefits elected with each change in election or
benefit renewal. We then update and monitor the payroll data
to assure the desired employee deductions and employer
contributions.
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We track employee waiting
periods and dependent eligibility and alert our client.
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We monitor and notify our
client of employee life change events such as attained age,
addition or deletion of dependents, etc.
Complete Bill Reconciliation and Payment
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We begin by having all
employee benefit carriers redirect our client’s billing to
HR Ledger and convert them to a self-report billing where
possible.
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We then generate an auditable self-bill and
reconcile it. With carriers that won’t allow self-bill we
validate the accuracy of their invoice.
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We pay all carrier bills directly on behalf
of our clients. When that’s not feasible for a client we
provide a reconciled invoice for them to pay.
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We calculate 401(k) and SEP contributions
and can transfer deposits directly.
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We calculate Workers’ Comp premiums and can
pay carrier directly.
COBRA Administration
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HR Ledger’s exclusive federally mandated
COBRA administration is uniquely integrated with our payroll
– allowing us to immediately identify new hires and
terminations.
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HR Ledger’s exclusive state mandated COBRA
service allows us to use our integrated payroll to calculate
when federal COBRA will be required and state mandate will
end and notify our client.
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Upon start up we issue an Initial COBRA
Notification to all eligible employees which identifies HR
Ledger as their COBRA Administrator and when and how to
contact us for qualifying events.
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We calculate COBRA subsidy eligibility &
amounts and properly communicate option to employees. We
file subsidy amounts with IRS to assure employer
reimbursement in accordance with regulations. Quarterly 941
filings include COBRA subsidy amount if applicable. Record
keeping is maintained in accordance with regulations.
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We identify qualifying events and
notification requirements and issue all notices.
We generate, track,
and process all election and termination notifications.
We provide all
beneficiary billing and collection and payment monitoring.
We pay COBRA beneficiary premiums directly to carriers.
We
assure compliance with COBRA regulations and changes.
We
provide HIPAA Credible Coverage Certificates as needed.
We
assist our client’s with USERRA notifications and benefits
administration.
Comprehensive Reporting
We provide complete management reporting such
as:
Employer Premium Liability
Report – showing what is due for each carrier
Eligibility Report – identifying
all benefits eligible employees
Enrollment Report – identifying
all employees currently enrolled in each plan
Open Enrollment Election Summary
Report – identifying who has completed open enrollment and what
plans they elected
Individual Total Compensation
Report (Hidden Paycheck) with ACTUAL numbers (no estimates). Can
be generated any time with any date range.
Total Compensation Summary Report
– can help management with true job costing by department,
division, or classification.
