isolved Benefit Services
If you’re looking for the best HR software to manage and organize your employee benefit obligations, then isolved Benefit Services may be the perfect company for you.
isolved Benefit Services provides a wide range of benefit and payroll services to small and medium-sized organizations. These services help you minimize tax liabilities, comply with all relevant laws and regulations, and streamline payroll management.
In our isolved Benefit Services review, we look at the strengths and weaknesses of the company’s services and consider whether it is a worthwhile investment for your business.
isolved Benefit Services: Plans and pricing
The company doesn't list prices for its services online, instead providing customized quotes for each business based on its specific needs and the number of employees.
The easiest way to receive a quote is to fill out the online form with as much detail as possible, including the number of people you employ and the types of benefits services you need assistance with.
In most cases, using a company such as isolved Benefit Services will pay off in the long run. Not only will it make audits less stressful, but it will help you attract top-quality talent due to your streamlined and generous benefits framework. In short, it's good for business administration and organizational culture.
isolved Benefit Services: Features
Now, we’ll outline some of the top compliance services isolved Benefit Services provides to organizations.
One thing to keep in mind is that the benefits of the company's services often seem intangible. The value your company receives is the absence of costly penalties and litigation, rather than more clearly identifiable cost savings or productivity increases. We like to think of it as an insurance policy for HR management.
COBRA support
The Consolidated Omnibus Budget Reconciliation Act (COBRA) is one of America's most important but most complicated benefit laws. It provides continual healthcare coverage for employees and dependents in a wide range of situations, but can be a nightmare for businesses to manage themselves. This is because it requires complex timeframe tracking and frequent issuing of notices.
Fortunately, supporting companies with COBRA compliance has always been a core service of isolved Benefit Services. In fact, when the company was founded in 1998, it was called COBRA compliance systems. Since then, over 8,000,000 COBRA notices have been processed by the company, with a proud record of zero audit failures among clients.
Transit and Parking
isolved Benefit Services makes it easy to streamline employee transportation and parking costs. This helps employees get to work easier and with less stress.
Rather than having employees pay for transportation and parking costs with their own money and then wait for reimbursement, isolved enables employees to pre-authorize deductions (pre-tax) and then purchase parking or public transportation passes with a company debit card.
Setting up this program is easy with isolved Benefit Services. The company will provide you with a pre-filled Section 132 Transportation Reimbursement Plan and help employees sign up for the program.
isolved Benefit Services: Interface and in use
isolved Benefit Services maintains separate platforms for different services. On the one hand, this makes it easy to compartmentalize benefit programs for both business leaders and employees and means there is no ambiguity about which benefit policy you're viewing.
On the other hand, however, this complicates the process more than we think is necessary. Surely it would be possible to design a clean and easy to use dashboard containing only the most critical information for each benefit policy?
isolved Benefit Services: Support
Employers and employees can access an extensive library of resources directly from the isolved Benefit Services website. These resources cover the many types of benefits services the company provides, as well as specific support for Covid-19-related issues.
The company can also be contacted by phone or email during business hours, and there is an online help form for other issues.
isolved Benefit Services: Security
iSolved Benefit Services has been around for many years, and we believe the company has well-earned its reputation for high-quality services. You can trust the company to securely manage your information, with full confidence that you're in compliance with the law.
With this type of service, there aren't any major security factors to consider. However, always ensure you send sensitive information (such as financial data or employee information) over secure and encrypted channels. This will help protect you against cybercrime.
The competition
Our main criticism of isolved Benefit Services is the lack of an integrated interface, so it's not surprising our favorite competitors succeed in this space.
Companies such as BambooHR provide integrated, intuitive, and powerful software platforms that enable employers and employees to view and manage their benefits online. However, Bamboo HR's key strength is that it also provides a suite of other HR services, making it a one-stop-shop for businesses' HR management.
Similarly, Employment Hero provides an appealing online interface for both employers and employees, and combines multiple services on a single platform, although the depth of its support doesn't quite match isolved Benefit Services.
Final verdict
If you're a small or medium-sized organization worried about how to manage your benefit obligations and, of course, ensure your employees are well looked after, then consider isolved Benefit Services.
For over thirty years, the company has helped businesses (over 17,000 of them) streamline their benefit frameworks and ensure IRS and DOL audits are no longer anxiety-inducing.
For the right company, isolved Benefit Services is a worthwhile investment, and it can undoubtedly be counted amongst the best HR software for successful businesses.
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