Benefits Management saves $1060 annually per employee
Employers offering employee benefits face increasing healthcare costs, compliance complexity, changing regulations, and unnecessary spend driven by employee and employer lack of understanding of their optimal benefit plan. This often results in employees being overinsured. Benefits administration tools focus on guiding employees to more cost-effective plans and automating redundant HR transactions. Nucleus reviewed recent human capital management case studies and followed up with end-users to determine the value of benefit administration software. Nucleus found that organizations that deploy benefits administration systems can save an average of $1,060 per employee per year. Cost and time savings resulted from reduced healthcare costs and increased productivity from benefit pre-selection support and automation capabilities.