Your job is hard! As a small-business owner, you have a lot of different balls to juggle and things to manage, and you don’t have time for complex and confusing benefit plans — which we all know isn’t going to get easier any time soon, especially since there’s currently more than 70 years’ worth of laws on the books! And every time there’s new legislation, it feels like you have to find another vendor with another solution, and there’s yet another thing to buy, right?
Small business can benefit from using one vendor for all their benefits administration. One system is the answer. With an integrated program management system, you can easily get information on your current benefits, which allows you to make timely decisions for your business. You don’t have to waste too many hours extracting data and consolidating information before you can make an informed decision.
In order to function optimally, however, human resources departments must have the right tools and resources in place. TASC (Total Administrative Services Corporation) Universal Benefit Account has taken all the disparate functions of plans like FSAs, HSAs, tuition reimbursement, charitable giving and more, and unified them into one simple platform. You as the employer can choose from more than 30 accounts and offer benefit plans, on par with large companies, without the hassle and work of multiple vendors.
Companies can immediately enjoy many HRIS benefits once the universal system has been implemented. Employees would have one card, one website and one mobile app, ultimately improving company satisfaction. A one-system platform is designed around how people think and work, so you spend less time getting more: more employee satisfaction, more opportunities to make a difference and more time to focus on what matters to you. The TASC Universal Benefit Account makes benefits really feel like benefits!
One of the most obvious benefits of using a universal solution to handle your benefits tasks is a nearly immediate improvement in terms of administrative efficiencies in compliance with the new 2019 state mini-COBRA law. This new law requires businesses that have 19 or fewer employees to make continuation of medical insurance coverage available to employees who are enrolled in their employer’s fully insured medical plan three months or longer when they leave or are terminated from that employ. To address this new state requirement, TASC created our Arizona mini-COBRA administration package, which affords you the opportunity to have one company completely administer this new COBRA requirement for a nominal one-time set-up, monthly and annual renewal fee. That way, you know you’re completely compliant and can rest assured that, if any questions arise pertaining to this new law, you have the correct resources in place!
To learn how TASC can assist your business with state and/or federal benefit/compliance requirements, visit www.tasconline.com.
Denise Haney is theregional sales director with Total Administrative Services Corporation.