Companies need solutions that deliver on ease, affordability, and compliance. More importantly, companies seek solutions that actually address the most pressing problems they’re facing. Employee health is a top concern and a quick, adaptable approach to shifting circumstances is crucial. Hourly benefits, offered with the help of a third-party administrator, are responding to the call.
The Value of Hourly Benefits
Healthcare costs represent one of the largest categories of employer spending. It’s an essential cost that can be turned into an advantage. As an employer, the health and care of the workforce is just as important as keeping costs low and productivity high. Hourly benefits are an excellent solution.
Hourly benefits provide a flexible solution to employers with part-time and full-time workers. Offering comprehensive employee care can help an employer to achieve higher productivity from healthy employees, reduced financial exposure, and the right plan can do all of that with ease of administration.
Flexibility is the name of the game and hourly benefits come in every shape and size. At Boon, we offer a solution that prioritizes accessibility and flexibility. The value of hourly benefits is about finding the solution that meets the needs of an employer and its workforce.
The Difference a Third Party Administrator Can Make
It’s not uncommon for employers that want to make a change to their benefits to be intimidated by the hassle of switching plans and managing the administration. That’s where a third-party administrator comes in. In the right hands, switching to a new hourly benefits provider can be simple and an opportunity to find a better option.
Managing hourly benefits for employees, properly tracking at the individual employee level, and maintaining compliance can be overwhelming. A third-party administrator can lend its expertise and provide several optional services for employer-sponsored group health plans – such as premium reconciliation, claims administration, and the management of employee benefits. A third-party administrator understands the needs of their clients and brings a wealth of experience in benefits, health insurance, and industry knowledge to the table. In short, a third-party administrator offers a helping hand.
A Benefit to Hourly Employees
To say that this past year, with the widespread impact of the coronavirus, has been challenging is an understatement. In the current moment, nothing is more important than employee health and finding adaptable, affordable solutions. Employees in 2021 prioritize health and flexibility and are seeking security in a post-pandemic landscape. Offering an hourly benefit solution can provide peace of mind to a workforce that is looking out for their health, attracting top talent and retaining high performing employees.
The past several months have been hard enough for employers and employees – hourly benefits, with the help of a third party administrator, makes addressing today’s challenges that much easier.
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