Zane Benefits Promotes Updates to its Health Benefits Administration Software

(PRWEB) June 14, 2012

Zane Benefits is the leader in Defined Contribution Health Benefits, a comprehensive and flexible alternative to traditional health insurance. With Zane’s benefits software, employers can recruit and retain better employees while fixing their monthly healthcare costs.

Earlier this year, Zane Benefits rolled out several exciting updates, which they are now promoting. One significant upgrade will drastically improve user experience and simplify daily operations within the Zane Software.

PLAN PERIODS

Typically referred to as Plan Year, the Plan Period is initially a twelve (12) month cycle for a plan. As the Period renews (more on this below), we will continue to track the previous Plan Period under separate “annual ledgers”; Balances, claims, and all other information can be viewed at any time.

MAKING PLAN / CHANGE CLASSES

In an effort to provide stability and accuracy,we have made some changes to honor new rules for 2012. When making changes to a plan, users will have three (3) options:

(1) Mid-Year Change – The Mid-Year change allows users to make selected changes to their Plan/Class mid Plan Period.

(2) End Plan and Start a New Plan – This method allows users to completely cancel the Plan/Class, and create a new one.

(3) Annual Renewal – Every Plan cycle has an end date, and thus a renewal must be ready to go. Users can create their Annual Renewal at any time, but in the absence of a Renewal at the nine (9) month mark, we will create one for them based on the most current rules.

EMPLOYEE ELECTIONS

The employee election method has been revamped to improve security and reinforce compliance. If an employee logs into the system and has not yet Elected for the current version of the rules (I.E. if they make a Mid-Year Change, End Plan and Start a New Plan, or an Annual Renewal becomes effective), each Participant in the Class will be prompted on their next login to Elect into the plan.

In addition to meeting compliance requirements, this new form will ask the participant not only to Elect, but also to confirm their Email Address, Phone Number, and have them create a new Password. This information is gathered to ensure employee information stays private and secure.

ROLLOVER PERCENTAGES AND MAX ALLOWANCE CAP

We are changing the way we handle Rollover Percentages. Previously, some users might have had a Rollover set to fifty-percent (50%), or some other percentage. Another feature often used is our Max Allowance Cap.

The goal of both features was similar: ensure balance stability and consistency.

Our new feature, Rollover Cap, will replace both previous features. The Rollover Cap will cap the amount of the balance rolled from one Plan Period to the next to a certain dollar amount instead of a percentage or an allowance cap.

CHANGING EMPLOYEES’ EFFECTIVE DATE AND CLASSES

Going forward, if users wish to change an employees Class, they must select a 1st of month in the future. They will no longer be able to make an employee Class change effective immediately. This ensures allowances, deductibles, and all other rules will be applied to employees claims with properly and consistently.

HISTORICAL PLAN DOCUMENTS

As Plans and Classes change, so do the Plan Documents. Now, along with our improved balance tracking, users now have the ability to go back and view previous Plan Periods Plan Documents.

More About Zane Benefits, Inc.

The Zane Benefits platform that allows employers to manage individual health policies and provide real-time, tax-free reimbursement of individual health policy premiums and medical expenses. The Zane solution can function as a complete standalone employer health benefits program or as a supplement to an existing group health benefits plan. Zane’s platform is SAS70 approved and complies with all applicable HIPAA, ERISA and U.S. Treasury regulations. See the Benefits Software page for a full overview.







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