What to Expect Q3
Being in the technology industry, changes happen frequently. It can be a challenge to manage all of the new updates being promised by the various HR Technology vendors. You could make color-coded charts of the different roadmap items, or you could leave that to us! We recently reached out to some of the bigger players in the Benefits Administration technology game for some of their promised system enhancements for the third quarter. Most of the vendors addressed the impending Affordable Care Act and compliance as well as functionalities to make the systems more configurable. All of the updates are targeted at making their clients’ lives easier, while allowing them to be more efficient and strategic. So as we’re currently in the midst of Q3, be on the lookout for these updates in alphabetical order:
ADP has announced new enhancements to its ADP Workforce Now platform for midsized employers. These enhancements include the ADP Workforce Now Compensation module, which automates compensation planning by creating a pay-for-performance culture. This tool complements ADP Performance Management to help organizations link employee performance to employer-defined award guidelines and budget thresholds and simplify the processes associated with pay increases and bonuses. The next update from ADP is its ACA Compliance Dashboard. This ACA dashboard is part of the Benefits Administration solution and will help companies stay compliant with ACA provisions. A new Application Programming Interface (API) Library will make ADP Workforce Now easier to use for employees, employers and developers by providing access to hundreds of HCM-related data fields. ADP has also expanded its Global Human Resources System of Record to support 33 countries with multilingual and multi-currency capabilities. The last enhancement to expect from ADP this quarter is the enhanced ADP Analytics package with built-in industry standard HCM metrics for HR, time, payroll and talent. This will also enable employers to add customized Key Performance Indicators (KPIs) and allow HR executives to compare their company’s performance against industry standard metrics.
Benefitfocus recently redesigned their Benefits Administration Role earlier this summer. The new Benefits Administration Role is a multi-release plan and will have new features coming over the next 3 releases. Some of these features include: ability to view plan participation details and on-demand open enrollment status, updates to the Message Center, ability to send automated notifications regarding benefit changes resulting from life events, ability to send message center notifications related to outstanding document requirements, ability to generate W-2 reports, automatic enrollment in single-level benefits, ability to set review and approval preferences for automated dependent cancellation and the ability to prorate initial and scheduled employer HSA contributions. Benefitfocus will also be updating their HR InTouch Marketplace by improving the training module tracking, management and reporting with the Training Tool. HR InTouch users will be able to archive and filter content within the HR InTouch Marketplace. HR InTouch Early Adopters (must have the Benefitfocus Communication Package) will also be able to configure pay statements using paycheck presentment. Benefitfocus is adding the ability to add and update emergency contact information and the ability to capture benefit ID information functionalities to the HR In Touch mobile app.
Businessolver announced continued evolvement of its ACA compliance solution, ACA StatusTracker. This technology currently measures, tracks, applies eligibility and creates ACA-required reporting. New features include addressing rehire rules, protected leave and improvements to analytic reporting. Businessolver also announced new member wellness tools offering employees the ability to track and manage their wellness and any impact on insurance premiums. Businessolver will roll out its Decision Support engine, MyChoice at the end of Q3 to help consumers make purchasing decisions by providing a full slate of information – not just past utilization. The configurable Layout Manager tools available within Benefitsolver will be getting even more flexible as updates to the WYSIWTG editor allow for easy-to-set-up layout options. This will result in better looking layouts to improve user experience and communication capabilities. The last update from Businessolver is the capability for Benefitsolver to be configured as a microsite built to support multiple webpages based on benefit types, employee demographics, etc. This addition offers a wide range of communication options for HR/benefits teams.
Empyrean is also working on its ACA tools offering, Safe Harbor. Safe Harbor will go live and has the ability to track 30 hours, offering coverage and affordability, plans with minimum essential coverage and/or minimum value, and annual reporting. Empyrean will also release its video library, VisualKnowledge. VisualKnowledge is a value-added feature that will deliver information to help employees understand their health insurance benefits, retirement and living well programs. Another new release from Empyrean is its retroactive payroll feature. This is a complete closed-loop payroll reconciliation integrated with all payroll applications. Empyrean is also offering a Private Exchange Platform which will go live during Q3. This platform will consist of tailored exchange technology and administration services for carriers, third-party exchanges, advisors and employers including stand-alone exchanges and insurance carriers.
If you are currently a user of any of the systems above and would like to share your experience with these updates, please do so in the comment box below. If you are a vendor and didn’t see your updates listed, send them to me at mkaiser@lockton.com for future postings. I want to give a big thanks to all of the vendors who participated in our first ever quarterly update!