Gone are the days when the best employee benefits program would just include healthcare insurance and pension. In today’s modern corporate landscape, businesses have to offer a list of benefits in order to attract and retain qualified talent. Benefits administration makes sure these programs run smoothly by effectively managing, tracking, and providing employees with the benefits they need. However, handling this manually can be a cumbersome task; this is why you need a benefits administration tool.  With plenty of options, the two leading platforms in this space are isolved and Summit. But how do you choose one? In this blog, we will compare isolved vs Summit, so you can have a clearer picture of which platform aligns best with your goals and employee experience.

isolved Vs Summit: At A Glance

Feature

isolved

Summit

Benefits Administration

  • Streamlines benefits enrollment with real-time data sharing, ACA/COBRA compliance, and 360° integrations
  • Optimizes CDH accounts, COBRA, and direct billing with configurable parameters and compliance automation

Reporting

  • Built-in and customizable reports across HR functions with automation and role-based access
  • Automated and on-demand reporting in multiple formats with versatile notification options

Ease Of Use

  • Intuitive interface with centralized dashboard, self-service, and automated compliance tools
  • User-friendly cloud platform with flexible and intuitive navigation for benefits management

Employee Well-Being

  • Supports financial wellness with PRPs, 401(k) admin, and earned wage access
  • Promotes well-being through LSAs, Medicare Solutions, and personalized benefits with Compass Card

Mobile App

  • Provides on-the-go access to HR, payroll, and benefits via People Cloud integration
  • Offers benefits management features, including ‘Compass Card’ for transactions and reimbursements

What Is isolved?

isolved is an all-in-one human capital management (HCM) solution that automates human resources (HR) processes, time tracking, benefits administration, payroll, and more. With access to ‘isolved People Cloud’, you can manage the entire employee lifecycle, from pre-hire to retirement. Designed to empower both employers and employees, the software combines artificial intelligence (AI)-powered tools, self-service, and workforce management to improve efficiency and position organizations for long-term success. isolved is suitable for small businesses and large enterprises across different industries like healthcare, retail, financial services, hospitality, and manufacturing.

Unique Features Of isolved

  • Talent Acquisition: The software streamlines hiring and onboarding with a mobile-ready interface that attracts, engages, and retains top talent

  • Payroll: You can optimize payroll processing with automated tax compliance and reporting tools for accurate and efficient payroll management

  • AI-Powered HR: It helps in making smart hiring decisions, personalizing learning paths, and using predictive analytics to optimize workforce management and drive strategic growth

isolved Pros And Cons

Pros:

  • It comes with time-saving features like open enrollment, tax calculations, and paid time off (PTO) tracking
  • Dedicated and helpful customer support, resolving issues promptly
  • Comes with a unified system for payroll, onboarding, and benefits administration

Cons:

  • Employees often encounter challenges with password resets and account access
  • Occasional issues with clocking in and out

What Is Summit?

Summit, developed by DataPath, is a benefits administration software designed for third-party administrators (TPAs). The platform helps manage ‘Consumer Directed Healthcare’ (CDH) accounts, retirees, direct billing, and the ‘Consolidated Omnibus Budget Reconciliation Act’ of 1985 (COBRA). Its benefits payment solutions make it a go-to option for organizations wanting to simplify complex programs. The software serves businesses from various industries, including healthcare and insurance.

Unique Features Of Summit

  • Integrated Financial Services: The software provides integrated benefit payment solutions, such as electronic payments, investment options, and a benefits debit card, for streamlining financial processes

  • Business Process Outsourcing (BPO): Summit offers cost-effective support for TPAs when it comes to benefits administration tasks like enrollment, claims processing, and compliance

  • Retiree And Direct Billing: This streamlines custom billing management through premium collections for retiree plans, leaves, marketplace payments, group benefits, union dues, and more

Summit Pros And Cons

Pros

  • Makes managing CDH, COBRA, and direct billing easy
  • Offers a comprehensive platform that focuses on employee well-being, including physical, mental, and financial wellness
  • Scalable to handle complex benefits programs

Cons

  • Limited HR functionalities beyond benefits management
  • Customization may lead to a steeper learning curve for new users

isolved Vs Summit – Key Features Comparison

Benefits Administration

When it comes to benefits administration, isolved streamlines the enrollment of benefits, enabling you to manage HR, benefits, and payroll from a single platform. It offers features like real-time data sharing, automated compliance tools for the ‘Affordable Care Act’ (ACA) and COBRA, and self-service enrollment. Moreover, the bidirectional (360-degree) integrations simplify communication with financial providers and insurance carriers, making sure up-to-date insurance and reporting are available.

Summit’s benefits administration optimizes the management of ‘Consumer-Directed Healthcare’ (CDH) accounts, COBRA, and direct billing. Through automation capabilities, you can enhance accuracy, decrease the risk of manual errors, and ensure compliance with federal regulations. The features such as configurable plan parameters and reporting tools, you can manage benefits efficiently.

Winner: Summit clearly takes the win since it is a customizable platform offering a scalable experience for managing benefits.

Reporting

The reporting feature of isolved empowers users with built-in reports and customizable tools that visualize data across payroll, training, labor distribution, and more. You can automate workforce reporting using the predefined fields, add forms, and generate intelligent reports tailored to your needs. Moreover, it allows you to run reports for specific dates, groups, or companies with role-based access and different formats like Excel or PDF.

Summit’s offers versatile reporting capabilities with automated and on-demand options in order to meet the requirements of the internal committee, employer, and broker. You can get reports generated in popular formats, and notifications can be sent through email, posted within the platform, or sent for fulfillment. This is to make sure timely and efficient data sharing.

Winner: Summit takes the lead due to its ability to deliver automated and on-demand reports in diverse formats tailored to internal, broker, and employer needs.

Employee Well-Being

With isolved, you can promote financial and retirement wellness as it offers comprehensive solutions, including portable retirement plans (PRP), 401(k) administration, and earned wage access. The platform enables organizations to attract and retain top talent by optimizing retirement plan management through cost-effective benefits and flexible pay options. By integrating financial wellness services into the HCM platform, you will help employees have financial independence and improve engagement and productivity.

On the other hand, Summit’s offers a well-designed platform that promotes employee physical, mental, and financial wellness. It simplifies the management of post-tax accounts, such as lifestyle spending accounts (LSAs). With the help of a full-feature mobile app and a customizable ‘Compass Card’, you can provide a personalized benefits program that adapts to the diverse needs of employees. Additionally, the software also supports ‘Medicare Solutions’, which deals with compliant reimbursement for older employees and retirees.

Winner: Summit takes the lead in this because of its flexibility in the customization of benefits and offering support for diverse well-being needs.

Ease Of Use

isolved has an intuitive and user-friendly interface that makes HR and benefits management hassle-free. Thanks to its self-service enrollment, centralized dashboard, and unified system, you can access and manage information easily. Automated compliance tools further enhance usability, which enables you to focus on strategic tasks rather than administrative ones.

In comparison, Summit’s is a cloud-based system that is easy to navigate and simplifies benefits administration, specifically for TPAs. With the help of intuitive reporting tools, the software ensures a seamless experience for you while maintaining flexibility in benefits offerings. However, there might be a learning curve when it comes to extensive functionality and configurability.

Winner: isolved excels in ease of use because of its all-in-one solution paired with a self-service portal and automated compliance tool.

Mobile App

The mobile app for isolved offers easy and on-the-go access to HR, benefits, time, payroll, and other essential information. Through the app, you can streamline employee interactions with HR functions, get updates, and integrate across isolved ‘People Cloud’ platform.

Summit’s mobile app allows you to access account information, submit claims, invest in HAS funds, check balances, and more. Your employees can also enroll in COBRA benefits and submit premium payments using the app. The ‘Compass Card’ stands out the most as it enables you to track transactions, access support tools, and manage funds. It also provides real-time access to benefits administration, CDH accounts, claims, and reimbursements.

Winner: Both isolved and Summit offer intuitive mobile apps with unique strengths. isolved is good in providing access to HR functions, while Summit excels in its ‘Compass Card’ integration that enables real-time tracking of transactions and enhanced accessibility to benefits administration.

isolved Vs Summit – Which HR Software Should You Choose?

When it comes to deciding between isolved vs Summit, it mainly depends on the needs and requirements of your organization. If you are looking for a comprehensive solution that unifies payroll processing, HR functions, and benefits administration, isolved is an excellent option. In case you are in search of an advanced and detailed benefits management solution, then Summit is the right choice.

Both platforms offer valuable strengths, and ultimately, the decision rests upon what matters most to your business. By carefully evaluating your options, you can determine which solution better suits your objectives.