Benefits Administration

Client Profile

  • Industrial Machinery Manufacturing
  • Industry: Manufacturing
  • Located in 26 States
  • 14.4 million annual spend on employee benefits administration

$1.4m

Saved

8%

Eligibility Reconciliaton Savings

10%

Administrative Savings

22%

Benefit Headcount

Employer Challenges

  • 47 decentralized business units
  • 18 different payroll files
  • No centralized data or record-keeping system
  • Benefits not part of HR competency
  • High benefit administration headcount cost
  • Inconsistent administration of COBRA and FSA accounts
  • Inability to produce and measure performance

CarePlus Strategy

  • Standardize Benefit Administration protocols across all 47 Business Units
  • Create baseline database from multiple data sources
  • Implement a centralized record-keeping system
  • Improve the support and service being delivered to beneficiaries and retirees
  • Reduce internal headcount currently dedicated to Benefit Administration
  • Establish compliant administrative practices
  • Implement financial, plan, and eligibility reporting

The Results

  • Improved efficiencies through centralization of all benefit administration activities
  • HR/Benefit headcount reduced by 22%
  • Delivered $1.4 million in administrative cost savings
  • Established robust monthly reporting package for Business Units and the Corporate Finance Department, providing the opportunity to analyze data and create metrics
  • Created an additional 8% savings (first year) due to eligibility reconciliation
  • Brought COBRA and FSA practices in alignment with Federal compliance regulations, eliminating the risk of financial penalties

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