Any time your organization has new hires, terminations, employee life event changes, or if you’ve just completed open enrollment, get in the habit of reviewing your invoices from your insurance carriers. You’ll want to compare your insurance carrier invoices against the recent changes to make sure you are being invoiced the correct amount. Better yet, you can usually check your employee information by logging into the carrier’s website each month, sometimes even before your invoice is generated.
Check for:
- Discrepancies between current employee elections and invoice line items
- Correct amounts for each line item
- Correct mailing address for your invoices
- Any changes from the prior month’s invoice that may need reviewed
In addition, it’s wise to keep up on these other benefit administration tasks monthly:
- Update payroll to reflect recent changes in deductions
- Distribute all required Benefit Notices, as per your company size
- Ensure COBRA or State Continuation requirements have been met