November, 2020 | BenefitElect

November 2020

November 17 2020

How BenefitElect Ensures Compliance

November 17, 2020

Staying compliant with current laws presents an ongoing challenge for businesses.

With a combination of confusing jargon and nuanced language in the laws, it is easy to get lost in the details. However, it is essential to every business to maintain compliance at all times. Paul Koziarz, President and General Manager of Regulatory Compliance at CSI, explains, “Organizations must constantly challenge themselves to not only remain in full compliance, but also seek ways to go above and beyond to ensure the highest levels of security.”

To improve compliance in your company, you need time, patience and organization. It is essential to analyze the list of major compliance difficulties and determine which one(s) create issues for your company. This analysis will help you focus your efforts on one or two main problem areas.

At BenefitElect, we maintain compliance in a number of ways and continue to evaluate our protocols. As Koziarz explains, “Businesses have to be in a constant state of remediation and education, because today’s cybercriminals are sophisticated—and businesses have to keep step.”

Here are a few examples of how we stay safe and keep data secure:

HIPAA Compliance

To avoid costly mistakes with sensitive data, all of our employees are HIPAA-certified. In addition, data access is limited to only those who need it. These actions ensure that data cannot be stolen or compromised. We also hold year-round training sessions on HIPAA and recertify annually, so employees are always aware of requirements, including new developments in the industry.

As a company, we use secure storage, email and Secure File Transfer Protocol (SFTP) to facilitate an added barrier of protection for our clients’ data. Additionally, we hold annual audits that alert us to any current compliance challenges. These steps help us to focus on areas we need to work on, nurture a culture of continuous improvement and give our clients confidence in our ability to serve them with excellence.

Data Security

Throughout the year, we utilize third party experts, analyze new hacking tactics and take actions to avoid them. These measures ensure that our employees and systems are well-equipped to keep data out of the hands of outsiders. As noted above, we restrict access to data to only those employees who need to view it in order to make certain all data remains safe and secure.

You can adopt these steps as well to make your data more secure and be more compliant. If you are considering outsourcing your data management, you need to find out whether the prospective company is serious about keeping your data secure. If they are not, your employees’ data could be at risk, putting your company at risk for costly non-compliance fees.

Other Steps We Take

We are careful to keep track of reporting and disclosure deadlines for the ACA and creditable coverage. Diligent tracking allows us to make sure that we have everything in place before we send reports. We also make use of our premier data-management software to streamline processes and save time and resources.

At BenefitElect, the security and compliance of your data and processes are important to us. We are continually committed to taking extra steps to ensure that both we and our clients stay fully compliant.

November 4 2020

Keys to Successful Partnerships

Beau Brown Newsletter

November 4, 2020

H.E. Luccock said, “No one can whistle a symphony. It takes a whole orchestra to play it.” This sentiment can also be applied to business partnerships.

The most successful people and companies create strong teams and relationships by harnessing each partner’s strengths to achieve a common goal. Solid partnerships lead to collaboration and innovation. Steve Jobs described a good partnership this way: “Great things in business are never done by one person. They’re done by a team of people.”

Building a true partnership demands dedication, fortitude and trust. From the start, it is essential for every member of such an affiliation to understand all expectations and obligations involved.

At BenefitElect, we take pride in the thriving relationships we have developed with our clients and business partners. Our focus on being an extension of your team confirms our level of commitment to become an invaluable asset to your company.

Partnerships help each other be successful and create common goals. A great partnership has several notable characteristics:

You get out of it what you put into it.

In any relationship, the effort and attention you bring will be reflected in the growth of that relationship. Thus, it is important to be proactive to ensure a healthy partnership. It is also key to set clear expectations in order to develop a working relationship that operates in a smooth and productive manner. That is why, at BenefitElect, we start by asking questions and setting expectations.

True collaboration also means that both parties are engaged. When people are committed to a common goal, unique and highly productive solutions are the result. To kick-start teamwork with a partner, ask them for their input on an initiative that they can be involved in. Listen to what they have to say and incorporate their feedback. Chances are your partner will be more than ready to help in any future collaborations.

Trust is the cornerstone of strong partnerships.

According to Patrick Lencioni, “Teamwork begins by building trust. And the only way to do that is to overcome our need for invulnerability.” In a true partnership, an environment of trust is fostered through transparency in the process. For example, a vendor builds trust by ensuring that their product functions exactly as you expect. When all parties involved trust one another, everything runs smoothly, and confidence and strength grow along with the partnership.

The following is a list of ways to develop trust with a partner:

Set clear expectations and well-defined roles.
Follow through with commitments.
Show initiative and willingness to help.
Discuss issues and events that could impact the relationship.

The focus is on the customer.

Understanding the needs, pain points and goals of the customer is what sets a company apart. When a company’s primary objective is to allocate its resources to help a client achieve their goals, the recipe for a solid, long-lasting partnership is created. Finding a partner who is a good fit for your company can be challenging, however. Spending time to vet several firms will ensure that your partner is a true asset rather than a liability.

Before you begin a new partnership, download our FREE resource “10 Questions to Ask When Evaluating a Vendor.” https://be-marketing-group.s3-us-west-2.amazonaws.com/Top_10_Questions_v2.pdf