Exchange

Put Employees Back In Charge

The defined contribution model is quickly gaining popularity with employers of all sizes. WORKTERRA Exchange offers a new way for employers to control health care costs and provide a wider range of benefit options to employees. Our application delivers an interactive shopping experience, decision support and self-service support to the increasingly web-savvy employee.

Request a Demo

Why the Defined Contribution Approach?

As opposed to the defined benefit model where the employer sets the specific health benefit, the defined contribution model allows the employer to contribute a set dollar amount for the employee to spend on the benefit option that will suit them best. WORKTERRA Exchange gives employers more control over their healthcare expenses and engages employees in the process.

For Employers

  • Better able to predict and manage healthcare costs
  • Educate and engage employees on their benefit options, increasing retention and satisfaction
  • Less time spent on administration of comprehensive benefit plans frees time for more important tasks

For Employees

  • More freedom to create their own benefit portfolio
  • Minimizes guesswork and confusion of the benefit enrollment process
  • Plan recommendations based on lifestyle choices
  • Enhanced, interactive shopping experience

HR Admin Self-Service

Eliminate time wasted on daunting tasks commonly associated with the benefit administration process. HR administrators are provided all the tools needed to manage employee benefit elections and updates throughout the year: in one place, in real-time and in compliance with Affordable Care Act regulations.

  • Track Open Enrollment Progress
  • Manage Year-Round Life Events
  • Set Payroll Schedules
  • Add/Term Employees
  • Ad-Hoc Reporting
  • ACA Compliance Dashboard
HR Admin Self-Service

Reporting

WORKTERRA’s ad-hoc reporting tool allows administrators to quickly and easily generate, schedule and automate custom or standard reports in real-time. Once a report is generated, conveniently download in the format of your choice (Excel, PDF, etc.) for easy extraction of the data.

A sample of Standard Reports:

  • Open Enrollment Changes Report
  • Newly Enrolled Dependents Report
  • Invoice Management
  • Discrepancy Report
  • Employee Plan Eligibility Report
  • Qualifying Event Report
Reporting

Affordable Care Act Dashboard

Our proprietary software tools have been designed to provide a strategic snapshot of Health Care Reform’s impact on your business. WORKTERRA’s Affordable Care Act (ACA) Dashboard is built to minimize the confusion commonly associated with healthcare administration and provides a highly configurable solution to help with compliance concerns.

Compliance Tools Include:

  • Reporting: 6055 & 6056, 1094 & 1095
  • Look Back / Administrative / Stability Periods
  • Eligibility Trends
  • Applicable Large Employer (ALE)
  • Safe Harbors
  • PCORI Fee
Affordable Care Act Dashboard

Employee Self-Service

Employees are offered a one-stop-shop to search for, compare and enroll themselves and their family members in the benefit plan that is best for them. The interactive shopping experience offered through WORKTERRA Exchange increases user engagement, knowledge of benefit plans and overall satisfaction with their benefit elections.

  • Recommendation Engine
  • Complete Open Enrollment
  • Add/Update Life Events Throughout The Year
  • Decision Support Tools
  • Self-Service Support
  • Personalized Communications
Employee Self-Service

Recommendation Engine

WORKTERRA Exchange delivers a recommendation engine driven, interactive shopping experience designed to guide employees step-by-step through the benefit election process.

  • Lifestyle Questionnaire
  • Personalized Plan Recommendations
  • Review/Update Recommendations
  • Enroll in Recommended Plan or Select Your Own
Recommendation Engine