BAS makes it easy for employers to successfully manage employees’ payroll contributions for benefits with MyEnroll360. MyEnroll360 offers several features, including an automatic data feed to payroll providers, to ensure that the correct payroll deductions are consistently applied for each employee.
Recording and applying the correct payroll deductions can prove challenging for employers that do not have the proper processes in place. Among the many complications that can arise:
- Different employees will have different contributions based on the benefits that they elect.
- Contributions will change from plan year to plan year or when employees make changes to their elections. This means that employers will have to track different deductions for different employees over time.
- When deductions are manually entered into a payroll system, errors will likely result. When errors occur, they must be reconciled. Manual entry and reconciliation can be time consuming.
- If the correct deductions are not applied immediately, further reconciliation will be needed. Additionally, employees are likely to grow frustrated that their contributions are incorrect.
MyEnroll360 simplifies the management of payroll deductions by tracking all employees’ specific contributions for all benefits in real-time. BAS can share this information with an employer’s payroll provider through an automatic data feed. Since MyEnroll360 stores all benefit information in one central place, this data feed contains accurate payroll deductions for all employees. In turn, the correct payroll contributions are applied immediately, and errors are eliminated, significantly reducing the need for reconciliation.
Administrators can stay up-to-date on employees’ payroll deductions with MyEnroll360. Administrators can always access to employees’ benefit information, including their contributions. All changes to benefit elections made by administrators or employees during open enrollment and new hire enrollment can be communicated to administrators at their desired frequency.
This communication can occur via email notification the day after changes in MyEnroll360 are made. MyEnroll360 can also generate a weekly report that shows changes in payroll deductions, and administrators are notified via email each time a new report is posted. Administrators can view previous weeks’ reports should they need to do so as well. Finally, for larger employers that are capable of accepting an electronic file, MyEnroll360 can generate an electronic file that includes all changes to payroll contributions on a weekly or bi-weekly basis. BAS will work with the employer to develop the file to the specifications that it requires.
If you are interested in simplifying payroll deductions with MyEnroll360, please contact your account manager or email@example.com.