Pub. 5 Issue 1

25 Issue 1 2019 S ome dealerships choose to take on employee ben- efits administration with paper forms and spread- sheets, but ever-changing regulation complica- tions, paperwork, and human error can end up costing your dealership fines and penalties. Here are five ways an Employee Benefits Administration System can save your dealership time and money. 1. Increased Efficiency for Both Employer and Employee An Employee Benefits Administration System increases efficiency for your dealership, HR and your employees. Many dealerships still have employees fill out paper forms, one for each benefit plan offered. HR then has to manually track the enrollment information and enter it into multiple systems. Using a Benefits Administration System eliminates the paper applica- tions and consolidates the employee’s benefit elections in one place. Having a streamlined process in place is a time saver for HR and the employees. 2. Improved Accuracy If employees are manually entering information into mul- tiple systems, you are increasing the chances of human error, not to mention the possibility of interpreting instructions and government policy incorrectly, or missing a reporting detail. All of these problems could cost your dealership thousands in penalties and fines and hours of employee time. When an Employee Benefits Administration System is imple- mented, you reduce the risk of human error, but also make sure your reporting requirements are fulfilled. It is all built into most systems and necessary reports are generated for you. 3. Meeting Compliance Requirements The Affordable Care Act (ACA) requires a lot of documenta- tion. Every business, regardless of size, has to be up-to-date on changing regulations and reporting requirements. If you have more than 50 Full Time employees and you offer health insur- ance, you need to prove you offer it to every eligible employee and the coverage meets the standards set by the ACA. An Em- ployee Benefits Administration System will handle all of these potential issues for you. 4. Better Decision-Making An Employee Benefits Administration System helps your employees make better, more informed healthcare and benefit decisions. Dealerships offer multiple benefit options. Confused employees trying to decide which plans are right for them can now see side-by-side benefit and cost comparisons and become better educated regarding their benefit package. 5. Greater Employee Satisfaction Anything that makes your employees’ jobs easier will in- crease their satisfaction levels. 24/7 access to Employee Benefits Administration software allows your employees tomake changes when they have time, not just when HR is available. EPICcan provide a benefit administration systemtoGLANCA members at no cost. EPIC ranks among the top 15 retail insur- ance brokers in the United States and is the largest insurer of auto dealers in the state.  Alison McCallum has been in the employee benefits industry for over 20 years. She is a Principal with EPIC insurance Brokers and Consultants, the only CNCDA licensed broker. With this partnership, EPIC offers unique services available to GLANCDAdealer members at no cost. If you have questions or would like further information please feel free to contact her at (949) 417-9136 or alison.mccallum@ epicbrokers.com . Ask Alison Employee Online Benefits Administration System – The Top 5 benefits to your Dealership.