Open enrollment might look different this year, with new AI enhancements
Eighty-five percent of companies either currently use or plan to implement HIPAA-compliant AI features in their consumer directed healthcare accounts.
With open enrollment quickly approaching, many benefits leaders are considering the advantages of AI to drive healthcare benefit utilization and improve the employee experience.
According to a new survey released by Elevate and Datos Insights, 85% of companies either currently use or plan to implement HIPAA-compliant AI features in their consumer directed healthcare accounts and 45% want AI-powered chatbots to improve employee engagement.
While some companies have expressed hesitancies, the survey points out that as consumers, many employees have become accustomed to the conveniences that new technology, like AI, bring especially when it comes to customer service and convenience.
“The adoption of benefits technology, such as AI, has lagged behind consumer technology,” said Brian Cosgray, CEO and co-founder of Elevate. “But with the rising healthcare costs for both employees and employers, there is renewed interest in digital transformation that can deliver results.”
The survey found that 45% of companies said they wanted AI-powered chatbots to help improve the handling of inquiries and 32% are looking to AI to speed claims reviews and assist with personalized coaching. The use of AI would not only improve efficiency for employees but also reduce costs for benefits teams.
Additionally, the survey found that companies are looking to AI to improve claims reviews and reimbursement hassles, such as keeping track of eligible expenses and balances, doing paperwork and waiting on physical checks or money transfers – all of which can make the use of FSAs and HSAs cumbersome for employees.
Related: What’s going on with open enrollment? A Q&A with Emily Bailey
Easier claims processing was a top enhancement desired by companies. The survey found that about 38% of companies indicated that they would like solutions that offered same-day reimbursement payments, while another 37% sought instant claims reviews and on-the-spot determinations.
“Nearly 9 out of 10 companies expect to replace existing systems with advanced technologies,” said Cosgray. “This is where AI can play a significant role, delivering impactful use cases that help benefits administrators do more with less, while concentrating costs and improving the experience and usage rates of employees.”