According to a recent study conducted by SHRM, employer-sponsored benefits increased by 35 percent in 2015, which is a seven percent increase from the previous year. This statistic, coupled with the study’s finding that “job seekers place greater importance on health care coverage … and on other benefits rather than their base salaries” points to an even greater demand for better benefits in coming years. Thus, as benefits packages improve, there is an increased need for better benefits administration.
Consumer Driven Healthcare Accounts
In response to the building demand for better benefits administration, DataPath designed Summit as a cloud-based, ‘everything you could need’ platform that integrates benefits account administration with streamlined financial processes. Summit’s capabilities and features enable TPAs to forge their own paths in the business world by reaching the peak of better benefits administration.
In addition, TPAs are looking for a way to streamline their processes in order to provide better service while increasing revenue. Summit’s online portal makes it easy for TPAs to manage their clients’ needs in one centralized location for:
- Benefits Debit Cards
End-to-End Card Processing
DataPath is the only benefits administration platform provider that is also an end-to-end card processor. Every card related function stays in house, which means DataPath offers TPAs and their groups the advantages and convenience of increased security, reliability, and customer service. Additionally, when TPAs link their clients’ accounts to the Summit debit card, card holders enjoy a stacked benefits environment that allows portability between all funds.
In addition to superior CDH account administration, Summit will soon have full-fledged Premium Billing functionality. Our best-in-market COBRA system has been chosen by many of the largest COBRA administrators in the country who abandoned their prior systems in favor of ours. DataPath also offers State Continuation, Direct and Customized Billing, and Retiree Billing with active-to-retiree auto enrollment. Furthermore, our Premium Billing platform features Third Party Payer capability.
Summit’s capabilities are second-to-none and its features as a benefits administration platform are the talk of the industry:
- Secure Broker Access – TPAs can build closer relationships with their referring brokers by allowing them secure access to shared clients’ data. TPAs maintain full control and share only the data they specify.
- Easy Consolidation and Integration – New books of business can be rolled under one Master portfolio while maintaining full search capabilities and data separation.
- Fast and Easy Setup – Wizards and templates make it easy to setup new accounts. TPAs can save time by customizing default settings for the data entry processes they use most.
- Full white label branding – TPAs can fully customize their site with their brand, including colors, themes, and images – all the way down to the URL – without DataPath’s brand appearing on any public facing page.
Contact DataPath today at firstname.lastname@example.org to learn more.