PlanSource Reduces Benefits Cost

February 8, 2021 - Research V24

Expanding organizations experience high costs due to over-insured employees, ineligible dependents, and inefficient employee benefits management processes. In interviews with HR staff, Nucleus noted that organizations are searching for solutions that streamline HR departments, from HCM to WFM to benefits administration. PlanSource, expected to be a leader in the upcoming benefits administration Value Matrix, is noted for its simple self-enrollment process, reducing employee inquiries during open enrollment up to 90%. Nucleus found through the deployment of PlanSource, organizations have realized increases in HR administration productivity and decreases in benefits cost. One public sector organization found direct savings through the vendor’s routine eligibility audit by more than $1,000 per ineligible dependent removed from the benefits formulary. Another organization realized a 20% increase in HR productivity during open enrollment.