Benefits Administration
Definition
The process of managing employee benefits plans such as health insurance, retirement, and wellness programs.
What is Benefits Administration?
Benefits administration refers to the design, implementation, and ongoing management of employee benefit programs. It covers everything from plan selection and enrollment to compliance reporting and employee support.
Why is Benefits Administration Important for Employers?
Benefits play a key role in attracting and retaining top talent. However, when administration is inconsistent or ineffective, it can lead to:
- Compliance violations (HIPAA, ACA, ERISA)
- Increased costs or underutilized offerings
- Lower employee satisfaction and higher turnover
FAQs
Can ExtensisHR offer more competitive benefit rates?
While individual results may vary, ExtensisHR’s group buying power can give small and mid-size businesses access to Fortune 500-level benefit plans typically reserved for larger organizations, all while staying within budget.
Who handles benefits questions from employees?
We do. Our service team becomes your employees’ go-to resource for benefits support.
What’s the difference between offering benefits in-house vs. through a PEO?
A PEO manages all the admin, compliance, and enrollment headaches, plus offers bigger, better plan options.
How ExtensisHR Can Help
As a PEO, ExtensisHR handles benefits administration from end to end. This includes:
- Access to Fortune 500-level benefit plans for small businesses
- Enrollment, eligibility tracking, and carrier communication
- COBRA, ACA, HIPAA, and ERISA compliance
- Employee education and support for navigating benefits