Artificial intelligence and machine learning-based tools can help to personalize the benefit selection process and help employees make better decisions, but how do they help HR professionals to lower employer costs?
Time is a resource: AI-enabled decision-support platforms can help employees better identify costs, compare options and get personalized insight to make more informed financial decisions, without increasing the human resources staff’s workload.
The right data makes an impact: Intelligent decision-support tools can streamline HR processes as well as better inform employee decisions which is especially useful when analyzing and guiding employees through the cost impact of individual and family coverage across different plans.
Investing in the long-term: employees have the tools and information to choose the health plan for their needs, they are less likely to be over-insured, which can save on annual and long-term costs for health care premiums.
Interested in how to implement AI/ML for your organization? SelectSmart™ is a decision support tool that transforms complex enrollment choices into straightforward, personalized recommendations by asking simple questions and analyzing all available choices and funding levels from health to retirement. This detailed guidance and education not only helps employees confidently make better health care and financial decisions, it also benefits companies by setting employees up for better health and satisfaction, which means happier, more productive employees.
We believe the best way to help employees feel more empowered and happier about their health and wealth is to help them make better decisions today.