Benefit Administration
Manage your benefits with Paycom’s online system
Paycom’s online and integrated system provides employers and their employees a simplified solution for managing new hire and open enrollment benefit administration.
Enjoy simple employer setup
As the employer, you define each benefit plan with information such as deduction amounts, open enrollment dates, and the new hire waiting period. For benefits such as health, dental, or vision, you can input monthly premiums by benefit level and you can set different deduction amounts based on your choice of criteria, e.g., pay grade, pay frequency, tenure, etc. You can set an open enrollment time frame and a new hire time frame as well as future premium and deduction amounts. You can also set up different benefit groups for employees with different benefit options, for example, a management group may have life and disability insurance options, and warehouse workers may have uniform deductions. Another system feature is the ability to upload forms and website links for employees to access. This function is ideal for carrier enrollment forms and links to provider websites.
Offer employees easy access
Paycom’s Employee Self-Service provides your staff a variety of options including the ability to view the benefits they are currently enrolled in and for which they are eligible to enroll in during open enrollment or after their new hire waiting period. Employees can also view their actual per-pay-period deduction amounts associated with their different benefits (health, dental, etc.) and benefit levels (employee only, employee and family, etc.). They can even model their paycheck based on these deductions. This is also where employees can access the carrier enrollment forms and links to provider websites that you have set up.
Integrate benefit administration with payroll
Because Paycom operates from a single-database system, once your benefits department has approved an employee’s benefits request, they can then upload all of the new deductions into payroll by simply clicking Update. By storing all your benefits, payroll and HR information in one database, you eliminate the need for duplicate data entry and the maintenance of multiple systems.
Track and report on your benefit information
Paycom allows you to easily report on any data stored in the system. We also offer multiple Benefit Administration reports that can be output in HTML, Excel or CSV formats. Our popular Census Report compiles all the information an insurance company needs to provide a quote for your group. Our Benefit Reconciliation Report gives you the tools to reconcile your enrollment and employee deductions against the insurance company’s bill. You can run the Benefit Report to see which of your employees are currently on any benefit and run the Benefit Eligibility Report to see which employees are eligible for what benefits based on eligibility dates.
