May 6, 2014

How to Find a Trustworthy Benefits Adminstrator

Choosing a benefits administrator can be a daunting task. Who can you trust to provide quality reporting and communication that keeps your company’s best interests in mind?

Below is a list of 6 key factors to consider when selecting a health benefits administrator:

  1. Do they treat you like a person rather than a number? That number could be a dollar sign, a ranking of value to their bottom line or an account number rather than a name. Do a little research on how they treat their customers. For example, are customers greeted by a live-person when they call or forced to navigate a cumbersome automated system?
  2. Are they dedicated to customer service or do they take you for granted once the sale is complete? Learn about their long-term plan with their customers. Do they file accounts away and never look at them again or do they invest in your business with long-term analysis? You want an administrator who will monitor the health-plan landscape and continually customize your plan to better serve your needs and objectives.
  3. Do they care about accuracy or push every claim through automatically? Their accuracy rate on payment of claims will directly impact your bottom-line. Accurate administrators will provide you with a dedicated claims account manager who is assigned to handle your claims processing and available to answer any inquiries from employees and providers. If they don’t provide this, then keep looking, as claims accuracy is an important part of your benefits service that needs to be done correctly the first time.
  4. Do they provide your business with custom solutions or an off-the-shelf answer that may not meet all of your needs? Be sure your TPA or Carrier understands that your business is unique and the goals you have with your benefit plan is specific to your company. Specific goals require a custom solution. There are Third Party Administrators who provide custom solutions that will meet every need you have for your benefit plan.
  5. Do they have the right kind of support to keep you informed and aware of your benefit plan and compliance obligations? Check to see if your benefit administrator offers you access to compliance tools and resources. A compliance dashboard helps employers understand and meet their compliance obligations. A customer-focused administrator will provide an in-house compliance specialist who is available for consultation and to answer the questions you may have around the changing health care environment.
  6. Do they provide robust reporting to keep you in-the-know on your account activity? Find a claims administrator that offers 24/7 access to reporting that includes next-day claims information. Ask if their reporting is secure and provides you benefit plan details, and deductible status for your review. There may be times when you will need custom reporting. Find out if the benefit plan administrator offers custom reporting and if so, what additional fees apply. Be sure, before you select your benefit plan administrator, that you are able to access a complete picture of your benefit plan.

Choosing a trustworthy health benefit plan administrator can seem impossible, but it doesn’t have to be if you know what to look for and do a little research ahead of time.

Contact Unified Group Services to find out how we can provide quality claims administration and customer service excellence.