The new version includes improved reporting tools, allowing users to easily see details, as well as customize and share reports, from a variety of data sets, including census, benefit election, billing and transaction information, and all audit trail information. The employee Web site has a new section called “Company News,” that scrolls text so firms can tell employees about benefits information, or company announcements.
The program also revamps the enrollment process by automating benefit eligibility for employers, as well as by offering employers the opportunity to provide employees with a self-guided enrollment process that permits employees to only view benefits they are interested in, or a new wizard-driven guided enrollment that shows employees all available benefits. Employees can also use the revised program version to tell their employer when a significant life event, such as a marriage or a birth, takes place that would have an effect on their benefits coverage.
RealLife Benefits now helps human resource directors cope with benefit plan costs by providing details on each employee’s answers to a series of questions; this feature can assist employers in offering cost-effective options to employees, as well as initiating cost sharing based upon coordination of benefits information.
Additionally, the revised system version allows for advanced, seamless integration with COBRA and Flex administration providers, reducing administrative work, according to the firm.