2019 Outlook: Tips for Your Employee Benefits ProgramAshley SiciliaEmployee Benefits AssistantAs the New Year begins and the focus in health care shifts away from the pressures of open enrollment, Tycor is sharing information that will help you in running your benefits program. For this quarter, we are focusing on three areas: Benefits technology platforms, a value added program to assist employees in covering deductible expenses and cybercrime. Benefits Technology – Not Just for Large EmployersNews flash! Benefits technology platforms are not just for the large employer anymore. As your compliance responsibilities grow and you feel like you are drowning in insurance benefit paperwork, technology vendors have developed software solutions to help streamline the process at prices that are more affordable than ever for small business. The technology gives you access to tools for Human Resources, onboarding, online enrollment, payroll integration and more. A few of the available platforms are bSwift, EaseCentral, Employee Navigator and Plan Source. All of these programs can be a big time saver when it comes to data entry and administration maintenance, allowing you to get back to running your business! Let Tycor help you identify which program is right for you. Just let us know you are ready to get started!Able Pay Health – A New Way to PayHave you heard? There is a new product for individuals struggling to pay their deductible expenses. Able Pay is a no-cost add-on to your existing health insurance that provides discounts and flexible payment terms on deductibles and coinsurance. Members get to save money AND extend their payment terms for up to 12 months. There are no fees for you as the employer or your employees.How does it work? When you sign up and your employees become members, employees will need to show their Able Pay cards along with their insurance cards at the time of service. Instead of sending a statement to the employee for payment, a copy of the claim goes to Able Pay (after the insurance carrier has processed the claim). Able Pay will hold electronic copies of all bills and if something doesn’t appear to be correct, a billing specialist will advocate for the member. They are a healthcare consumer company – not insurance.If it’s free, how do they make money? Good question! Able Pay has negotiated an agreement with their partnering providers that allows for discounted rates in exchange for guaranteed payment following completed insurance processing. A portion of the savings goes to the Able Pay member and a portion goes to Able Pay to fund the business.Why would I need this? Able Pay saves you time and the headache of having to navigate the system when it comes to healthcare billing. They are professionals at claims resolution. And, most importantly, it saves you money! You as the employer and all enrolled members will have access to discounts not otherwise available. Members will pay less than their plan deductibles when Able Pay negotiates and contracts with providers who are willing to take a lower but guaranteed payment. This program began in the Lehigh Valley in 2018 and is beginning to be accepted by health systems in the Philadelphia region. Let Tycor know if you would like more information!Cybercrime – Play it Safe! “I’ll just send you an email.” Woah! Slow your roll. While email is easy and convenient for you to transfer data, it’s also the perfect way for hackers to intercept sensitive and private information. According to the John Hancock Retirement Plan Services Cybersecurity Best Practices Guide, “… accidental breaches due to the human factor usually top the list for data breaches and losses experienced by an organization”. Do you encrypt your data? You should! Even though encrypting your data before hitting send is an extra step, you can greatly reduce your chances of a breach by doing so.Data breaches are a growing threat and are not going away any time soon. According to Breach Level Index, “the total number of [data] records compromised in the first half of 2018 was 3,353,172,708.”Tycor HIGHLY encourages you to send your sensitive information to us via our secure file transfer system. The link to our system can be found on our webpage and in any of our email signatures. Not sure if what you are sending constitutes sensitive and private information? Play it safe – Encrypt your data!