Pub. 8 2019-2020 Issue 1

26 San Diego Dealer Employee Online Benefits Administration System – The Top 5 Benefits to your Dealership. Some dealerships choose to take on employee benefits administration with paper forms and spreadsheets, but ever-changing regulation complications, paperwork, and human error can end up costing your dealership fines and pen - alties. Here are five ways an Employee Benefits Administration System can save your dealership time and money. 1. Increased Efficiency for Both Employer and Employee An Employee Benefits Administration System increases efficiency for your dealership, HR and your employees. Many dealerships still have employees fill out paper forms, one for each benefit plan offered. HR then has to manually track the enrollment information and enter it into multiple systems. Using a Benefits Administration System eliminates the paper applications and consolidates the employee’s benefit elections in one place. Having a streamlined process in place is a time saver for HR and the employees. 2. Improved Accuracy If employees are manually entering information into multiple systems, you are increasing the chances of human error, not to mention the possibility of interpreting instructions and government policy incorrectly, or missing a reporting detail. All of these problems could cost your dealership thousands in penalties and fines and hours of employee time. When an Employee Benefits Administration System is implemented, you reduce the risk of human error, but also make sure your reporting requirements are fulfilled. It is all built into most systems and necessary reports are generated for you. 3. Meeting Compliance Requirements TheAffordableCareAct(ACA)requiresalotofdocumentation.Everybusiness, regardlessofsize,hastobeup-to-dateonchangingregulationsandreporting requirements. If you havemore than 50 full-time employees and you offer health insurance, you need to prove you offer it to every eligible employee and the coveragemeets the standards set by theACA. AnEmployeeBenefits Administration Systemwill handle all of these potential issues for you. 4. Better Decision-Making An Employee Benefits Administration Systemhelps your employeesmake better, more informed healthcare and benefit decisions. Dealerships offer multiplebenefit options. Confusedemployees trying todecidewhichplans are right for themcan now see side-by-side benefit and cost comparisons and become better educated regarding their benefit package. 5. Greater Employee Satisfaction Anything that makes your employees’ jobs easier will increase their satisfaction levels, and 24/7 access to Employee Benefits Administration software allows your employees to make changes when they have time, not just when HR is available. EPIC can provide a benefit administration system to SDNCDA members at no cost. EPIC ranks among the top 15 retail insurance brokers in the United States and is the largest insurer of auto dealers in the state. Alison McCallum has been in the employee benefits industry for over 20 years. She is a Principal with EPIC insurance Brokers and Consultants, the only CNCDA licensed broker. With this partnership EPIC offers unique services available to SDNCDA dealer members at no cost. If you have questions or would like further information please feel free to contact her at (949) 417-9136 or alison.mccallum@epicbrokers.com.