Back
Group benefits administration can be straightforward and simple – with Nomad
By: Benefits by Design | Tuesday June 18, 2024
Updated : Tuesday July 2, 2024
Group benefits administration has come a long way since Benefits by Design (BBD) opened its doors in 1996. Back then, everything was done on paper, and most employee enrollment forms were received by snail mail. Business was done over the phone and email was just beginning to play a role in streamlining processes. Fast-forward to today, and almost 75% of businesses have a more digital than paper-based benefits process. Yet only 10% say they have access to real-time connectivity.
Nomad – BBD’s benefits administration portal
BBD understands that advisors and employers want quick and convenient access to their benefits information. When it comes to maintaining your account and enrolling employees in a timely manner, the capabilities of your benefits administration portal can make all the difference.
That’s why we maintain ours in-house. This gives us greater flexibility when implementing plans, and better accommodation for exceptions. It also keeps us agile – we can add new features and products much quicker than companies who outsource. Plus, any updates or software fixes can be implemented swiftly and securely.
We’re committed to privacy and security, and Nomad is no exception. Nomad uses top of the line security protocols to keep your confidential data protected.
BBD’s very own team of dedicated developers created Nomad to give plan administrators access to benefits administration no matter where they are – from multiple offices, computers, and users. Removing the challenges of a paper system where files are only available in one single place.
Eliminating paperwork is just one benefit of Nomad, but there are so many more!
10 Advantages to Online Benefits Administration Through Nomad
Plan administrator capabilities
Nomad gives plan administrators full access and control of their employee benefits plan.
A personalized dashboard
Your dashboard shows you a financial snapshot of current and prior invoice charges, plus a list of the most recently completed activities. These could include adding an employee, updating salaries, editing the number of hours an employee works, or adding or removing a dependent. The dashboard also supplies timely announcements and helpful links to keep you informed of the latest from BBD.
Update account information
Such as company address right from the account tab. Do you have multiple plan administrators? Easily add and remove plan administrator assistants, including a selection of permissions for activities they can perform.
The employees tab
Allows you to add, reinstate, and terminate employees with ease. But employees aren’t usually static. They get promoted, get married, and have kids, to name a few things. Nomad allows you to stay on top of benefits administration. Process employee changes, such as salary updates, marital status, name changes, dependent additions, and more!
The best part? The updates take effect in real-time. Which means you can run reports afterwards to confirm new premium amounts, for example. All entries are reviewed by the Customer Success Team to ensure compliance and accuracy before the information is relayed to the insurers.
Invoices and reports
Run and download invoices and reports, such as the employee data listing, employee benefits booklet, or payment history. Administrators can also access previous and current invoices in both PDF and excel format – your accountants will thank you!
Resources
Sometimes an employee or beneficiary will need to make a claim other than health and dental. To ensure you have the most recent claim forms for life insurance, disability or other types of pooled benefits, download claims forms and other resources directly from Nomad. If the forms are not available (your group might have a different carrier), you can reach out for assistance. We make it easy – you can email your advisor and dedicated BBD Client Manager directly from the dashboard.
Manage multiple company’s benefits
Does your company have more than one location? Nomad makes managing benefits administration for all of them a synch. Simply toggle between affiliated groups to maintain employee files at different locations.
What about benefits?
The benefits tab shows which employee benefits your company is currently providing. Most companies who offer traditional, fully insured benefits, provide life insurance, accidental death & dismemberment (AD&D) insurance, as well as health and dental care. Other benefits you might be used to hearing about are sick leave and disability benefits, critical illness, and an employee assistance program (EAP).
But did you know that there are other ancillary benefits, such as Diagnostic Specialist Assistance Insurance (DSAI), which helps with healthcare wait times. Or perhaps your employees have been requesting more life insurance coverage? Optional coverage can give those employees an additional benefit amount at the reduced rates that only group insurance can provide. Need more information? Download the product page for each benefit directly from Nomad.
Advisor highlights
Your benefits advisor has their own personalized dashboard, where they can view a scorecard for all their BBD business. And don’t think we forgot about special announcements and helpful links to keep your advisor up to date.
Advisors can also access sales forms and marketing materials, and request quotes directly from the platform. They can also run reports on running claims experience, and view details of covered benefits, such as benefit amount or percentage, and premium rates. This way, they can keep on top of the health of all of their groups and ensure they can advise you on the best way to approach your benefits renewal.
Lastly, advisors can run commissions reports, and view license details to ensure they are current.
Administering your benefits plan shouldn’t be a difficult and complicated task. BBD has removed the challenges by providing an easy-to-use, confidential and secure platform that makes it effortless and straightforward.
What about when employees have questions you can’t answer? BBD has you covered.
How a third-party administrator helps administrative professionals
