Employers understand the importance of managing new hire waiting periods efficiently and precisely. MyEnroll360 offers a robust solution that allows employers to configure and control waiting periods at multiple levels, providing unparalleled granularity in defining and managing new hire waiting period rules. In this article, we'll delve into the three levels of control MyEnroll360 offers, highlighting its flexibility and precision.
Level 1: Location/Division Specific Rules or Standards
At the top level (Level 1), MyEnroll360 empowers employers to define specific new hire waiting period rules for each client location or division. Alternatively, employers can establish standardized waiting period rules that apply uniformly across multiple locations or divisions. This top-level control ensures that waiting periods align with the unique needs and circumstances of each location or division or can be streamlined for consistency.
Level 2: Benefit Classes Customization
Moving to the second level (Level 2), MyEnroll360 allows each location or division to further customize new hire waiting periods based on employee benefits classes. Benefit classes enable employers to group employees into "homogenous groups" based on various criteria, including new hire waiting periods, termination date and COBRA processing, benefit plan offerings, and more. This level of customization ensures that waiting periods are aligned with the specific requirements of each employee group, enhancing precision in benefits administration.
Level 3: Benefit Plan Specificity
The third level (Level 3) provides the highest level of granularity within each benefit class defined at Level 2. Within a benefit class, each location or division can define distinct new hire waiting periods for individual benefit plans. This means that waiting periods can vary, for instance, between medical plans, dental plans, vision plans, and flexible spending account plans. MyEnroll360's flexibility at this level ensures that waiting periods are tailored to the intricacies of each benefit plan, allowing for optimal customization.
Seamless Transition and Automation
MyEnroll360's advanced controls even accommodate scenarios where employees are transferred from one benefit class to another. Employers can define how new hires in such situations receive credits for days in the original benefit class and apply those credits to the new hire waiting periods in the target benefit class. This feature streamlines transitions while maintaining precise waiting period management.
Automation for Efficiency
MyEnroll360 automates the application of grandfathered, core, and optional default benefit level effective dates once an employee is assigned to a benefit class. This automation simplifies the process and ensures that waiting periods are consistently applied based on the defined rules for each class and individual benefit plan.
Conclusion
MyEnroll360 offers employers a remarkably flexible, granular, and logical framework for setting new hire benefit plan waiting periods. The ability to customize waiting periods at multiple levels ensures that waiting periods align with the specific needs of different locations, divisions, employee groups, and benefit plans. For employers seeking enhanced control and precision in managing new hire waiting periods, MyEnroll360 is the ideal solution. To learn more about setting up new hire waiting period controls, please reach out to your account manager or contact us at solutions@basusa.com.
Benefit Allocation Systems (BAS) provides best-in class, online solutions for: Employee Benefits Enrollment; COBRA; Flexible Spending Accounts (FSAs); Health Reimbursement Accounts (HRAs); Leave of Absence Premium Billing (LOA); Affordable Care Act Record Keeping, Compliance & IRS Reporting (ACA); Group Insurance Premium Billing; Property & Casualty Premium Billing; and Payroll Integration.
MyEnroll360 can Integrate with any insurance carrier for enrollment eligibility management (e.g., Blue Cross, Blue Shield, Aetna, United Health Care, Kaiser, CIGNA and many others), and integrate with any payroll system for enrollment deduction management (e.g., Workday, ADP, Paylocity, PayCor, UKG, and many others).
