BURLINGTON, Vt., Sept. 21, 2016 /PRNewswire/ -- EverythingBenefits, a provider of comprehensive, next-generation benefit technology solutions and services, today announced that iSystems, LLC headquartered in South Burlington, VT has expanded its Evolution human capital management (HCM) platform with EverythingBenefits' insurance carrier connection, COBRA administration, and 401(k) integrations. With these new benefits management solutions, iSystems will enhance the breadth and depth of available functionality across its Evolution HCM Suite, mostly as it relates to Evolution Advanced HR, a full-featured human resource information system (HRIS) that offers a unique combination of employee collaboration and traditional workforce management. The EverythingBenefits solutions are available to existing and future Evolution service provider licensees.
With EverythingBenefits' carrier connection and benefits administration solution, businesses of any size using Evolution Advanced HR to manage their benefits for open enrollment, new enrollments, life change events, and terminations can automatically deliver these benefit changes directly to insurance carriers. This eliminates the need for customers to make these changes manually with insurance carriers through the use of filling out and faxing paper forms, delivering spreadsheets to their insurance brokers, or keying in information on carriers' websites.
EverythingBenefits' COBRA administration software and service can automatically recognize when initial COBRA notices need to be delivered and identify potential COBRA qualifying events through an integration with Evolution Advanced HR that makes COBRA compliance easy. As the COBRA administrator, EverythingBenefits handles all the administration associated with COBRA compliance like generating the necessary notices and maintaining communication with beneficiaries, collecting and managing premium payments, and monitoring coverage periods and timelines while providing clients with access to reporting and audit trails that help prove compliance.
Evolution service provider licensees using Evolution Payroll typically manually deliver required data to 401(k) providers every pay period. Companies that don't integrate their payroll with their 401(k) providers and still use manual processes run the risk of improperly reporting data or, if absent, not reporting it at all, which can lead to non-compliance and the fines associated with it. With EverythingBenefits 401(k) integrations, files are automatically attained, reformatted and securely delivered to clients' 401(k) providers every pay period. This allows companies to save time, increase productivity, and virtually eliminate human errors.
"Partnering with EverythingBenefits is a natural fit and a win-win that only reinforces our already two strong brands," explains David Meagher, President for iSystems. "We are delighted to partner with such an innovative company to provide our customers with best-of-breed benefits solutions."
"Working with iSystems enables us to bring end-to-end benefits solutions to a whole new, strong network of payroll partners that are committed to the success of their customers," adds Rachel Lyubovitzky, CEO at EverythingBenefits. "We welcome iSystems to our growing partner network and look forward to helping their service provider licensee community expand their range of services to cover the full spectrum of their clients' benefits needs."