HR technology leader enhances its platform and services to meet employers' benefits challenges in managing unique populations and overall workforce safety
WEST DES MOINES, Iowa (January 11, 2022) – Businessolver®, a leader in SaaS-based benefits technology and services, today announced its most recent product innovations, specifically designed to help employers reduce overall claims costs, monitor workforce safety regarding COVID-19, streamline retiree benefits administration, and leverage financial wellness programs to retain and recruit talent.
"It has been an unprecedented period of uncertainty for all employers, but especially for HR and benefits leaders," said Businessolver Chief Strategy Officer Rae Shanahan. "Much of our strategic innovation in the latter half of 2021 was driven by a commitment to provide the stability they need through consistent, forward-thinking technology solutions."
Personalized Navigation improves members' health care decision-making
In a survey conducted among employees using Businessolver's platform, more than 65% of members responded that it was "most useful" to have year-round benefits engagement rather than benefits enrollment/selection support only. To support this user preference, Businessolver launched its Personalized Navigation suite of tools, featuring Activation Paths, this fall.
Personalized Navigation connects employees with their benefits when they need health care services, such as booking an appointment, processing a claim, or managing a chronic condition. Activation Paths further engage employees via personalized alerts and nudges to activate non-electable benefits, including telemedicine, cost-transparency tools, and employee assistance plans. Early client adopters with the Care Navigation tool are already seeing a +30% increase in employee engagement; 2022 will see continued growth for Businessolver's Personalized Navigation suite, including its Claims-Based Personalization tool that provides member-specific communications based on health care cues.
Updated COVID-19 Tracker helps meet employers' changing administrative and compliance needs
To stay atop of workplace safety and in preparation to meet President Biden's Sept. 9 mandate requiring employers with 100+ workers to track employees' vaccine and testing status, Businessolver completed several key updates to its COVID-19 Tracker, already embedded into its proprietary Benefitsolver® system.
In addition to its mid-year 2021 release that captured vaccination status, type, and dates, the COVID-19 Tracker now tracks weekly testing, with the option to upload results, as well as exemption status and documentation for both religious and medical exemptions. Additionally, employers that want to embed the Tracker into their benefits enrollment flow may do so, as well as give credits/levy surcharges based on members' vaccination status. Finally, Businessolver's virtual benefits assistant SofiaSM can answer questions about each of these features as members navigate the Tracker.
Address Adjacent Populations product strategy assists clients in managing retiree populations
In the latter half of 2021, Businessolver made strategic investments in its retiree administration products, with plans to do so again in 2022 as the organization reports onboarding a sizeable retiree population 2022. These investments allowed Businessolver to develop an automated and integrated solution to harmonize the direct bill, retiree health reimbursement arrangement (HRA), and benefits election process by connecting the MyChoice® Accounts HRA to Benefitsolver.
Retirees making elections in Benefitsolver may select how much of their retiree HRA to put toward their premium payments, and Benefitsolver handles the monthly payments through an automated internal billing process. This process makes it easy for retirees to pay their benefit premiums without the additional hassle of filing for reimbursement or managing claims.
MyChoice Accounts expands to include student loan repayment
Federal student loan relief measures are likely to end in 2022, potentially putting millions of employees' personal budgets into the red. A recent study indicates that 25% of employees are looking for student loan repayment benefits. Businessolver's MyChoice Accounts solution can support employer subsidies, and proactive or reactive reimbursement administration.
"2021 has been another year requiring significant pivots to keep pace with the changes in the HR world," said Sherri Bockhorst, Businessolver Senior Vice President of Strategy and Innovation. "Our long-term strategy to make benefits simpler and more accessible is already helping members, and we have also been nimble enough to create new features and products that weren't even on the radar two years ago. We're looking forward to partnering with our clients to continue innovating to meet their needs."
Since 1998, Businessolver has delivered market-changing benefits technology and services supported by an intrinsic responsiveness to client needs. The company creates client programs that maximize benefits program investment, minimize risk exposure, and engage employees with easy-to-use solutions and communication tools to assist them in making wise and cost-efficient benefits selections. Founded by HR professionals, Businessolver's unwavering service-oriented culture and secure SaaS platform provide measurable success in its mission to provide complete client delight.
Grant Stoker, Edelman (on behalf of Businessolver)