HR executives in this position don’t have a lot of free time and are increasingly more inclined to cut initiatives that require a lot of manual effort for little perceived reward, such as voluntary benefits. But there are urgent reasons why voluntary benefits are more important than ever and why they should remain a key retention strategy for employers who want to attract and retain the best talent. Having time for family, friends and activities beyond work is an important component of a rich and fulfilling life.
ADP selected Corestream because of its proven track record in the benefits marketplace with a series of Fortune 500 companies. A benefit provider is an organization that charges premiums in exchange for health care coverage or other services. When shopping for benefit providers, businesses have several options – consult a broker, work with insurance carriers directly or join a professional employer organization that will negotiate the contract and administer the benefits on its behalf. From the employee’s perspective, the group benefits provider is often the employer. It’s been a year of turmoil and uncertainty, but that only underscores the continued need for employers to support their employees with voluntary benefits.
Director Of Compensation And Benefits
Family and Medical Leave Act of 1993 is the federal law that requires employers to provide eligible employees with up to twelve workweeks of unpaid, job-protected leave in a 12-month period for qualifying family and medical reasons. It is the policy of Pima County to comply with the provisions of the FMLA and the relevant regulations.
– Sept. 30, Corestream, the leading platform for connecting employees with voluntary benefits, today announced that its multi-year agreement with ADP Benefits, a provider of benefits services, was renewed by ADP. Corestream’s integration with ADP has resulted in one of the industry’s most robust benefits administration offerings, seeing a positive employer reception and strong employee adoption. At Corestream, we believe that the success of any organization relies on the overall wellness of its workforce, from physical and mental health to financial wellbeing. Corestream’s revolutionary platform is designed to remove barriers and streamline voluntary benefits administration. We aim to be a powerful tool in the arsenal of HR teams, brokers, vendors, and employees. Voluntary benefits packages are designed to fill healthcare coverage gaps, provide for long-term care and indemnity, and offer discounts on items such as dental, auto, vision, and life insurance.
For instance, to help combat family and financial stress, we’re introducing a new backup child and adult care benefit and have expanded our paid parental leave program to offer associates more ways to balance their lives. Many Fortune 500 companies utilize Corestream’s unique platform and integration with ADP to create a single point of entry through which all participants in voluntary benefits–employees, employers, carriers and brokers–can connect and work together.
Employers who succeed in keeping their employees engaged often find the right mix of both types of benefits. Especially as employees struggle to maintain high levels of performance during the stress of COVID-19, these benefits can have a real impact on organizational culture.
At Corestream, we believe that the success of any organization relies on the overall wellness of its workforce, from physical and mental health to financial well-being. Corestream’s revolutionary platform is designed to remove barriers and streamline voluntary benefits administration. Over the course of 2017, Corestream reconciled over $100 million in premiums for its partners.
Voluntary benefits can provide meaningful choice to employees, meet the needs of a diverse workforce and help employees maintain their financial well-being. All of these are critical, culture-benefitting outcomes for employers and employees alike.
At no cost, associates can receive counseling through our Employee Assistance Program or access resources available through our LifeCare referral service, our Voluntary Wellness Program, and our On-site Health and Wellness Centers. Our associates can seek mental health care through a choice of two leading health care provider networks under our medical plans. We’ve also expanded our telemedicine coverage to include virtual visits with behavioral health providers, making mental health care more affordable and convenient. , division vice president of benefits for ADP National Account Services. Benefits tend to fall into two categories – traditional and unique. Examples of traditional benefits include health and dental care, life insurance and retirement savings plans. Unique benefits, on the other hand, consist of education assistance, paid parental leave, telecommuting and more.
The partnership aims to extend voluntary benefits to thousands of employees nationwide without the typical implementation and administration difficulties businesses encounter. Our company-paid program provides life insurance if an employee should pass away while traveling on BCBSA business. A fringe benefit is a form of compensation for the performance of services. Any fringe benefit your company provides is taxable and must be included in the employee’s pay unless the law specifically excludes it. Use this chart to understand the types of fringe benefits and where they are reported on your W-2s. Bucketpay is a process by which you can offer multiple voluntary benefits to your employees without the hassle of reconciling multiple carrier invoices.
In fact, one 2019 survey by Flexjobs found that 80% of employees surveyed would be more loyal to their employers if they had flexible work options. ADP TotalSource has a wide range of benefits available to support your employees journey as they navigate their health, wealth, life, and work.
- The agreement between Voya and ADP will streamline implementation, making benefits administration more efficient and cost-effective.
- With the integrations, employers can now more easily select the policies and coverages they would like to offer their employees, and quickly plug their selections into ADP’s benefits administration system.
- ADP has integrated Voya’s comprehensive set of group life, disability income and supplemental health insurance benefits – including Voya’s Compass Accident, Critical Illness/Specified Disease and Hospital Confinement Indemnity Insurance.
- Corestream currently manages voluntary benefit deductions for 1.2 million employees.
Health management benefits are also extended to employee dependents. Attendees saw first-hand the integration of Corestream’s voluntary benefits platform and how it can benefit their employees and HR administrators through its streamlined offering of benefits selection and administration. This new integration between Coresteam and ADP allows ADP National Accounts customers with more than 1,000 employees to offer a greater breadth and variety of voluntary supplemental employee benefits. We foster a safe and positive work environment through our corporate policies. When we think about the health of our associates, we consider all aspects of health, including mental health. As part of our comprehensive benefits package, associates have access to a range of mental health support services.
The agreement between Voya and ADP will streamline implementation, making benefits administration more efficient and cost-effective. ADP has integrated Voya’s comprehensive set of group life, disability income and supplemental health insurance benefits – including Voya’s Compass Accident, Critical Illness/Specified Disease and Hospital Confinement Indemnity Insurance.
Employers must now contend with the pressure to retain employees through a challenging time as well as the fact that their actions are very public. In such times, it’s important to be as strategic as possible, because everyone — including past, present and future employees — is watching.
Important Coverage Notifications
HR-FMLA is responsible for processing all requests for FMLA related leaves for Pima County Departments, with the exception of the judicial departments. Our efforts to support associates’ well-being continue to grow in response to our associates’ health-related needs.
participation is mandatory for all eligible employees who are covered by one of the Arizona state retirement plans. These are defined benefit plans in which the County and the employee contribute a certain percentage of the employee’s salary. Long Term Disability is only available through the Arizona State Retirement System and this benefit pays an employee when he or she is unable to work due to illness or injury for more than six months.
One important example of this might be an employee who needs to access their eldercare benefit for a live-in family member after moving to a different state within the United States. With access to flexible and customizable voluntary benefits through their employer, the employee could easily find eldercare within the state and move forward without being bound or restricted to the service provider they used before. The widespread adoption of remote work also underlines the importance of flexible voluntary benefits. Remote workers today could be operating from anywhere — they might return home to be closer to friends and family, relocate with a spouse to a safer location or decide to stay put. Because voluntary benefits are often provided by large carriers across multiple states and jurisdictions, employees can still personalize their choices to access benefits where they need them.
Participating employees will have the option to elect a percentage of pay or a specific annual amount. Selecting a percentage of pay allows that amount to increase as your income increases; whereas flat amounts will remain the same for the remainder of County employment. Deductions are taken on a pre-tax basis saving you additional dollars. This voluntary plan can be elected in addition to your mandatory retirement pension and your voluntary Deferred Compensation.
ADP selected Corestream because of its proven track record in the benefits marketplace with a series of Fortune 500 companies, according to the companies’ announcement of the partnership. The Corestream and ADP integration creates an online environment for employees to easily learn about and select from an ever-growing number of voluntary and traditional benefits offered by their employer. Ultimately this will enable companies to attract top-level talent and help employees connect with their local community. The innovative platform streamlines implementation and administration, and also allows effective communication and engagement, which are key to closing the loop on successful voluntary benefits. These services are all part of this new partnership between ADP and Corestream.
Other voluntary benefits offerings include student loan refinancing, pet insurance, and discounts at local businesses. Over the course of 2017, Corestream reports that it reconciled over $100 million in premiums for its partners. Insurance is underwritten by ReliaStar Life Insurance Company and ReliaStar Life Insurance Company of New York, members of the Voya® family of companies. We aim to be a powerful tool in the arsenal of HR teams, brokers, vendors and employees.
Commonly Asked Questions About Benefits
Take the time to review these benefit options available to them through your partnership with us and to be well-informed when the time comes to make your company’s elections. When you hear the words health insurance, medical coverage may be the first thing that comes to mind. However, voluntary health benefits can be a huge win for both you and your employees. This plan is available to those benefits eligible Pima County employees who are age 40 and 30 or older.
With the integrations, employers can now more easily select the policies and coverages they would like to offer their employees, and quickly plug their selections into ADP’s benefits administration system. Corestream currently manages voluntary benefit deductions for 1.2 million employees. Research has established that benefits are a key factor in attracting and retaining top talent. For example, a recent study found that 90 percent of 18 to 34-year-olds say they would prefer benefits over a pay raise. /PRNewswire/ –Corestream, the leading platform for connecting employees with voluntary benefits, today announced that its multi-year agreement withADP Benefits, a provider of benefits services, was renewed by ADP. Corestream’s integration with ADP has resulted in one of the industry’s most robust benefits administration offerings, seeing positive employer reception and strong employee adoption.
We encourage employees to adopt healthy habits and behaviors that will enhance the enjoyment and quality of life. We offer employees a competitive benefits plan with incentives, healthy eating seminars, and corporate discounts on bike shares and weight-loss programs as well as free onsite fitness centers.