Oracle HRMS provides a complete solution for Total Compensation management. Your Oracle Human Resources license includes the Standard Benefits feature set that enables you to manage your enterprise's benefit offerings.
The Oracle Advanced Benefits license provides the Standard Benefits feature set plus additional functionality enabling you to design flexible benefit programs and to administer benefits based on life events.
See: Advanced Benefits Administration
Standard Benefits provides the functionality you need to administer benefit programs that do not offer flex credit based benefits. The Standard product is also useful if you outsource a significant portion of your benefits administration.
If your organization favors a centralized form of benefits administration, you can have your benefits practitioners or other personnel record participant elections. A more distributed method of enrollment is available with web-based self-service enrollment forms.
You can enroll participants in plans for which they have been found ineligible and you can override a participant's benefit elections. You can also define whether or not a person can elect to waive participation in a benefit for which they are eligible.
For US users, Standard Benefits supports the administration of Dependent Coverage Orders and Qualified Domestic Relations Orders (QDROs). For Dependent Coverage Orders, you can require that a participant cover a dependent named in a court order (typically for health coverage). For QDROs, you can define a payment amount or percentage that is withheld from an individual and any benefit distribution restrictions.
Because many plan sponsors outsource at least a portion of their benefits administration, the system enables you to extract and format benefits data for transmission to a third party. You can limit the records that are extracted based on a variety of factors, including only extracting records that have changed since the last system extract.
By licensing Advanced Benefits, you can also fulfill the following business requirements.
In your plan design, you define the qualifying life events that generate enrollment actions and participant communications. Batch processes that your system administrator can schedule to run on a nightly basis detect when a life event has occurred to a participant. Enrollment opportunities are then generated for the participant based on the life event and the rules of your plan design.
You can also define automatic and default enrollments to reduce the time you spend processing enrollments.
You can use the product for "what-if" eligibility modeling. For a given person, you can view what their benefit eligibility results would be if a particular life event occurred. The system does not save these results.
You can send a communication to a person in conjunction with a life event. For example, you can run the communications batch process to send an enrollment kit to a group of employees in advance of a scheduled enrollment period. You can also automatically send a communication when an action item must be completed before an enrollment is valid.