Rachel Lyubovitzky, CEO
According to the U.S. Bureau of Labor Statistics, in June 2019, the unemployment rate stood at a historic low of 3.6 percent. This figure is evidence of a flourishing and competitive employment market. It’s an exciting moment for the US workforce, and most employers now face immense pressure to have a robust benefits program in place to entice and retain their employers. Many companies have begun to add new offerings to the traditional benefits stack in an effort to keep these services relevant and aligned with their employee base. Legal services, pet insurance, and student loan repayment programs, now supplement the standard medical, dental, and vision package. Yet, many companies are still managing the complex compliance requirements related to a benefits program manually, and it remains a daunting task for them. New Jersey-based EverythingBenefits automates this process for enterprise organizations going through the process of managing their benefits cycle. Its artificial intelligence (AI)- powered Benefits Administration software, helps them solve their human resources (HR) puzzle.
Enterprises have to be aware and on top of such matters as eligibility of the employee for a specific program, compliance issues, and other legal nuances that arise when managing employee benefits packages. EverythingBenefits automates the management of everything, while offering full transparency into cost and usage. “Our solutions eliminate all of the minutiae associated with employee benefits management, allowing our clients to focus on their business objectives,” states EverythingBenefits CEO, Rachel Lyubovitzky.
To manage the full spectrum of benefits, EverythingBenefits offers a suite of three solutions comprised of “Benefits Made Simple,” “Connected Living,” and “Cost Containment and Analytics.”
Our solutions eliminate all of the minutiae associated with employee benefits management, allowing our clients to focus on their business objectives
The “Benefits Made Simple” solution offers the ability to enroll in benefits programs while managing eligibility of the employees. The “Connected Living” suite allows employers to connect with service providers to ensure that eligible employees are enrolled. The “Cost Containment and Analytics” solution helps in benefits reconciliation, gathering intelligence from the buying decisions of millions of individuals to provide a best-fit recommendation for an employee. It enables employees to select an appropriate insurance plan based on their requirements. The company’s AI-powered software seamlessly integrates with the client’s existing payroll system to eliminate manual processes, save time, money, and reduce compliance-related risks. “Selecting a benefits package is a life-changing decision for an individual,” adds Lyubovitzky. “What if an insurance plan doesn’t include a critical illness or cover a prescription medication needed by an employee or their dependants? EverythingBenefits gives individuals tailored insights and a look into the choices made by similar Americans to assist in making the best decision.”
These solutions have proven beneficial for over 6,000 organizations. One such customer success story is of a client that, prior to engaging EverythingBenefits, depended solely on manual procedures for the reconciliation of its insurance provider’s bill. The client would have to print every insurance provider’s bill and every statement from the benefits admin system. They then had to go through the tedious process of comparing each document line by line for every single employee. It took a minimum of two weeks each month. Thankfully, upon leveraging the benefits reconciliation solution of EverythingBenefits, the entire process was cut down to only 40 minutes - immensely enhancing the client’s productivity.
EverythingBenefits is making great strides in the benefits management arena through their extensive knowledge and AI-powered solutions. The company continuously develops new solutions to enable its client’s ability to retain their workforce. “Our customers are the force that drives the evolution of EverythingBenefits,” says Lyubovitzky.