Best Benefits Administration Software for 2023
Learn more about benefits administration software for small businesses along with frequently asked questions.
Updated on February 2nd, 2023
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Updates:
Updated 23rd of January 2023
Reviewed and updated pricing, added more information about our top choice and things to consider before purchasing benefits administration software.
Benefits administration software enables the HR department of an organization to assemble and manage its employee benefits program effectively.
It involves managing and updating employee benefits, such as health, disability, and life insurance, as well as pension plans, vacation, paid time off, and maternity leave. Benefits administration software also allows businesses to maintain compliance with tax and labor laws and often combines payroll and HR management in one platform.
Why We Chose Gusto:
Gusto offers an all-in-one platform that boasts an impressive set of features, including employee benefits administration, time tracking, payroll, and other HR management tools to help streamline business processes.
For an additional $5.00 per month, Gusto allows employers to use their own broker to manage and administer benefits more effectively. Alternatively, employers can make use of Gusto's partner brokers.
All of Gusto's plans include health insurance administration, early direct deposits, and spending and savings accounts, as well as access to the Gusto wallet employee app, which makes it easier for employees to update their details and track their money while on the move.
Things to Consider When Evaluating Benefits Administration Software:
- Look for benefits administration software that doesn't require a lot of training so that employers and employees don't feel overwhelmed by the learning curve.
- Research benefits administration software features to identify which tools your business would require. To increase workflow effectiveness, you might search for online enrollment, automated employee deductions, or solid collaboration tools.
- Consider software with performance management tools as some benefits may be directly related to an employee's performance.
Best Business Administration Software:
Rank | Name | Offer | Review | Learn More |
|---|---|---|---|---|
1. | From $40.00 + $6.00 /user /mo. | A comprehensive suite of features that include employee benefits administration, payroll, and HR management tools. | ||
2. | From $10.00 /user /mo. | Rich in features, simple to use, and very customizable. It provides a wide range of standard and robust tools for managing all aspects of employee benefits administration. | ||
3. | Contact for quote. | A feature-rich, all-in-one platform that was created to streamline HR management. Features include employee benefits tracking, as well as payroll and time tracking. | ||
4. | Contact for quote. | Dayforce HCM's benefits features automate administrative tasks by helping users to better manage, forecast, and adjust plans. | ||
5. | Contact for quote. | The platform offers a benefits administration add-on that is packed with industry-standard features, such as online enrollment and reporting. | ||
6. | Contact for quote. | APS primarily offers payroll and HR tools, which include standard benefits administration features that allows users to manage and track different plan types, automate employee deductions, and more. | ||
7. | Contact for quote. | isolved offers an HR & Payroll suite that includes benefits administration tools, such as self-service enrollment and data sharing. | ||
8. | Contact for quote. | Created to "make things simple," ADP Workforce Now's benefits administration suite includes coverage of group health insurance, retirement plans, and business insurance. | ||
9. | Contact for quote. | UKG Pro delivers a cutting-edge and user-friendly interface, making it simpler to explore benefits alternatives and compare plans. | ||
10. | From $8.00 /user /mo. | Rippling helps businesses to better manage their medical, retirement, and other benefits in one place with its suite of comprehensive features. | ||
11. | Contact for quote. | bswift is a 100% outsourced solution that streamlines businesses' complete HR, benefits, and payroll processes. | ||
12. | Contact for qute. | With Criterion HCM, benefits administration and reporting can be simplified to reduce time, increase accuracy, and manage costs better. | ||
13. | From $6.00 /user /mo.* | Rise offers a modern solution that lets employees self-enroll, select coverage dependants, and coordinate benefits from any mobile device or computer. | ||
14. | Contact for quote. | Offers an all-digital benefits administration platform that includes robust system validations, pre-tax plans, health plans, and more. |
*Businesses with fewer than 20 employees must pay an additional $30.00 per month to purchase a Rise package.
FAQs:
What is a benefits administration system?
A benefits administration system allows benefits administrators and/or HR employees to set up, manage, and update the benefits for each employee in the organization. It also ensures that companies remain compliant with tax and labor laws.
What are the four major types of employee benefits?
- Disability insurance.
- Social security and medicare.
- Workers' compensation.
- Unemployment insurance.
What are the most popular benefits administration systems?
Which platform do you use for benefits administration?
Benefits administration software helps businesses better manage, track, and administer employee benefits. Our top picks for benefits administration software include Gusto, TriNet Zenefits, and BambooHR.