How to administer benefits programs and all the related functions can come down to asking basic questions, say two industry experts.
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“If they are looking to handle their own (benefits) administrative functions, then they just need a platform provider,” says Don Biron, a senior consultant with Milliman. “But if they are looking to outsource some or all of these areas, then they are likely looking for a full solutions provider.”
Michael Taggart, Co-CEO CARHUS, says it also comes down to companies understanding what level of support is necessary to manage their benefits plan.
“Is it a simple organizational structure or a company with complex benefits needs?” that needs a platform that can engage employees on multiple levels, says Taggart, adding that it’s important for a company to “delineate between ‘must have’ and ‘want to have.’”
Press play to hear more from these experts including how plan sponsors can find the best solution for their companies, and the key benefits and technology trends on the horizon.
And click here to listen to other podcasts from Conduent’s BenefitsPro podcast series.