Benefits Payment Exceptions Eat Up 62.5 Staff Hours a Month
Benefits teams can spend more than a week of staff time every month handling transactions that don’t move cleanly through the system. For a benefits program with 5,000 active accounts, the new PYMNTS Intelligence report produced with SoFi Tech Solutions titled “Making Health and Wellness Benefits Perform: What Modern Card Infrastructure Changes” models what happens […] The post Benefits Payment…
Every month, benefits teams can spend more than a week of staff time handling transactions that don't move smoothly through the system. For a benefits program with 5,000 active accounts, the PYMNTS Intelligence report estimates that 5% of accounts each month need manual attention. At 15 minutes per exception, eligibility disputes, reimbursement requests, and reconciliation errors add up to approximately 62.5 staff hours monthly.
This highlights the importance of considering benefits infrastructure as an operational-efficiency calculation, not just a way to administer programs. The cost of these exceptions is not always evident when companies evaluate benefits technology, but the time spent on exceptions can be significant. Reducing the number of exceptions can free up staff time for other important tasks like monitoring program use, participant support, and administering additional benefits.
Written by urgent.news from PYMNTS's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
