Open enrollment is when employees can choose benefits options from their employer, such as health, life, vision and dental insurance. It happens once a year, usually in the fall towards the end of the year. Here are some ways you can begin preparing for open enrollment period.
- Highlight Major Benefits Changes
- Develop Communications to Prepare
- Prepare Scenarios
- Educating Employees About Their Options
- Set a Deadline Early
Avoid Information Overload
Your employees can only absorb so much information at once, especially when you consider this is in addition to their day-to-day projects and learnings. Start by highlighting the changes or additions to your benefits offerings since the previous year. Make sure to explain what was in place before, what employees gain with this change, what they lose with the change and what actions need to be taken from this point. You’ll be setting up your workforce for success and providing a thoughtful approach to benefits communications.
Educate Employees on Benefits Options
A recent study indicated that almost half of employees have trouble understanding the differences among different health insurance plan options. Look over your employees to create several employee “profiles” based on the most prevalent groups. With this knowledge, you can provide a benefits plan comparison, laying out the benefits offerings that make the most sense for each group, based on utilization and cost-efficiencies. This tailored approach to educating employees will go a long way in helping them select the plan best suited for their needs.
Open Enrollment Communications
When creating open enrollment collateral and communication pieces, make sure to use language that is clear and concise and that set enrollment deadline expectations. As a best practice, ensure that your open enrollment communications strategy meets the needs of your workforce. Provide multiple opportunities to attend meetings and include virtual or recorded meetings as well so everyone throughout the company receives the same information.
Share Cost Information
Transparency is key to a successful open enrollment. Today, employees expect to have access to their healthcare information, and that includes how and why your company’s healthcare decisions are being made.
Schedule time at the beginning of your open enrollment meeting or recording so the necessary leaders can provide background for how the healthcare decisions were made. When your workforce is empowered with a high-level understanding of the benefits being offered, they’re able to make better, more informed choices. They’re also more likely to understand the impact of their individual healthcare choices on the greater whole.
Contact Our Benefits Team
Having a strategy in place to tackle open enrollment will be the difference between success and confusion for your employees. Make sure to build in the time to accomplish each part and you’ll be able to provide a smooth experience for your organization. Contact the experts at IBC Insurance by calling us at 712-277-2424 or fill out this form on our website.
