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"74% of employers report that employee satisfaction improved after implementing an online benefit system."
(World at Work, 2005)
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Important Facts:
60% - 80% of HR staff time is spent on routine tasks
An average of $900 per year is spent per employee for benefits administration
An average of $84 per year is spent per employee on the enrollment process alone
On average, the loss of an employee will cost most companies an average of $12,000 - $18,000 in lost training, recruitment costs and productivity
69% of employees say their company gets LOW MARKS for managing and communicating their benefit plans
(MetLife Survey, 2005)
60% of employees claim they do not understand their benefits and regret the decisions they make in 30 minutes at open enrollment
(MetLife Survey, 2005)
62% of employees state that voluntary benefits factor into their employment decision
(LIMRA International, 2007)
How well a company communicates its benefits can do more to retain a top producer than the actual cost of the benefits
(Watson-Wyatt Work USA 2004 Study)
More than 90% of employees feel that having a choice in their benefits plan is important
("The Rising Cost of Employee Benefits: The Employee Perspective," Eastbridge Consulting Group, Inc., 2003)
34% of full-time employees are interested in having their employer provide more voluntary individually owned benefits
(LIMRA International Ownership Study, 2004)
Most employees still prefer to buy insurance face to face, and the worksite is their preferred place to do so
("Issues in Worksite Marketing," LIMRA International, 2003)
74% of employers report that employee satisfaction improved after implementing an online benefit system
(World at Work, 2005)
At Stohlman Financial Benefit Enrollment Solutions, we have one of the nation's only electronic enrollment systems capable of handling not only core benefits enrollment, but also all forms of voluntary group benefit plans, for both small groups (100 lives and under) and large groups (101 lives to thousands). Our system is completely scalable and modifiable, and is designed to be a seamless, one-stop resource for all of your employee or group member benefit communication, enrollment and management needs.
SFBES can customize our powerful and intuitive system to provide your company, group, association or client company with everything needed to communicate benefits information to all employees or group members (individually, collectively, or by class), conduct complete open enrollments each year, and manage an entire group benefits program efficiently and effectively year round--including enrollment changes, eligibility changes, life event changes, renewals, and more. We can tailor the SFBES system exclusively for you on a per-client basis, to provide full service for existing core plans, voluntary plans, HSA's, Flex accounts, Section 125 plans, 401(k) and other benefit or retirement plans already in place. And, our system is completely secure, with at least 128-bit encryption and individual id's and passwords for every system user, whether employee/group member, HR/Administrator, agent, broker or other carrier representative.
If desired, we also offer Instant EOI (Evidence of Insurability) to accommodate automatically enrollees with pre-existing conditions or those choosing benefits that exceed Guaranteed Issue, Conditional Guaranteed Issue or Simplified Guaranteed Issue guidelines. Further, we also offer, free of charge, the SFBES Employee Handbook Builder, if a client does not already have an employee handbook to upload to the SFBES system, along with a Forms Library for company and carrier forms and documents, cVideo informational and instructional video capability, and other data management tools. We can also configure EDI (Electronic Data Interface) links to all benefit carriers, for both underwriting enrollments and instantly communicating changes as well as for exchanging billing and auditing information with carriers with just a few clicks of a mouse. (EDI is optional and there is an additional charge for each EDI link set up and maintained).
SFBES' enrollment system also has almost limitless reporting capabilities, making it easy for employers or association HR/Administrators to monitor enrollments down to an individual basis, send out individual or group reminders, and obtain reports on any information collected by the system. Tracking changes, auditing enrollments, or reconciling accounts with carriers is greatly simplified with our comprehensive reporting system. What's more, brokers, agents, or carrier representatives with authorized access can also monitor enrollments, make changes between agents or representatives as appropriate, and collect vital data on a case-by-case basis using SFBES' system.
SFBES is designed for employees, association or group members, employers, brokers, agents and carriers to utilize our simple, flexible and powerful solution to address virtually all of their enrollment needs, and at an extremely affordable cost. We provide in-person, on-site enrollment assistance, as well as enrollment via email pdf's and on paper, if needed, and we can also provide call center assistance on a case-by-case basis. Fees are streamlined so pricing is often below market for all services.
At Stohlman Financial Benefit Enrollment Solutions, part of Stohlman Financial Services, LLC, our core values of "Security, Fidelity, Strength" drive everything we do. Our goal is to provide each client with the security of knowing they have all the tools they need to communicate, enroll and manage their benefit programs as efficiently and effectively as possible, the assurance of faithful and trouble-free service, and the strength of a capable, complete and reliable system that saves both time and money. This allows our clients to strengthen and grow their own businesses and associations by lowering their bottom line and increasing their profitably year after year.
Contact us today for more information.