Average Ratings 0 Ratings
Average Ratings 0 Ratings
Description
Benefitbay introduces a revolutionary benefit option known as ICHRA, which enables employers to reimburse their workforce for individual health plans while preserving the tax benefits associated with traditional group insurance policies. This innovative approach empowers employees to choose the most suitable benefits tailored to their unique requirements. Our focus is on the essential attributes of ICHRA, resulting in a user-friendly platform designed for ease of use, compliance, efficient deployment, cost savings, and robust support. Employers can categorize employees into designated classes based on criteria such as location, job type, or age group. After establishing a budget, they can strategically allocate contributions for each categorized group. Employees benefit from a straightforward shopping and enrollment process, allowing them to select any individual health plan available to them, whether on or off the exchange. Additionally, Advanced Reimbursement Accounts (ARC) facilitate automated monthly premium payments, while pre-tax payroll deductions are organized for off-exchange plans, and all necessary plan documentation is efficiently generated. This setup ultimately enhances employee satisfaction and engagement in managing their health benefits.
Description
Offering a practical and user-friendly solution, Vital Objects (VO) assists large-scale insurance companies in optimizing the management of both traditional and flexible benefit group programs. Discover an array of interactive and intuitive features designed for ease of use. With Vital Objects, you can manage benefits seamlessly, while its advanced billing system efficiently handles even the most complex calculations. It ensures precise adjustments for retroactive member premiums, taking into account historical rates, plan details, billing records, payroll deductions, tax obligations, and taxable benefits. Its innovative scheduling tool for monthly billing combined with real-time updates enhances the efficiency of billing processes and premium collection. The platform accommodates custom fields and provides ad-hoc reporting capabilities, along with a comprehensive audit trail for transparency. Additionally, it supports flexible member enrollment, maintenance of benefit plans, and includes a self-service administration module to further simplify the experience. By leveraging these capabilities, insurance companies can significantly improve their operational efficiency and service delivery.
API Access
Has API
No
API Access
Has API
No
Integrations
No details available.
Integrations
No details available.
Pricing Details
No price information available.
Free Trial
No
Free Version
No
Pricing Details
$7.00/month/user
Free Trial
No
Free Version
No
Deployment
Web-Based
Yes
On-Premises
No
iPhone App
No
iPad App
No
Android App
No
Windows
No
Mac
No
Linux
No
Chromebook
No
Deployment
Web-Based
Yes
On-Premises
No
iPhone App
No
iPad App
No
Android App
No
Windows
No
Mac
No
Linux
No
Chromebook
No
Customer Support
Business Hours
No
Live Rep (24/7)
No
Online Support
Yes
Customer Support
Business Hours
Yes
Live Rep (24/7)
Yes
Online Support
Yes
Types of Training
Training Docs
Yes
Webinars
Yes
Live Training (Online)
No
In Person
No
Types of Training
Training Docs
Yes
Webinars
Yes
Live Training (Online)
Yes
In Person
Yes
Vendor Details
Company Name
Benefitbay
Founded
2013
Country
United States
Website
www.benefitbay.com
Vendor Details
Company Name
Computer Workware
Founded
1984
Country
Canada
Website
www.computerworkware.com/VitalObjects
Product Features
Benefits Administration
COBRA Administration
No
Claims Management
No
Deduction Management
No
Disability Insurance Administration
No
Employee Benefits Administration
No
FMLA Administration
No
FSA Administration
No
Flexible Spending Accounts
No
For Brokers
No
For Employers
No
HIPAA Compliant
No
Health Insurance Administration
No
Life Insurance Administration
No
Online Benefits Enrollment
No
Premium Billing
No
Provider Management
No
Retiree Administration
No
Retirement Plan Management
No
Product Features
Benefits Administration
COBRA Administration
Yes
Claims Management
No
Deduction Management
Yes
Disability Insurance Administration
Yes
Employee Benefits Administration
Yes
FMLA Administration
No
FSA Administration
Yes
Flexible Spending Accounts
No
For Brokers
Yes
For Employers
Yes
HIPAA Compliant
No
Health Insurance Administration
Yes
Life Insurance Administration
Yes
Online Benefits Enrollment
Yes
Premium Billing
No
Provider Management
No
Retiree Administration
Yes
Retirement Plan Management
No