August 18, 2020
Believe it or not, open enrollment season for most companies is right around the corner. Now is the time to prepare to ensure that everything runs smoothly. This will improve the outcome and success of your upcoming enrollment for you, your Benefits Administration and finance teams and your employees.
Here at BenefitElect, we want you and your workforce to have the best experience possible. Making sure your employees make the best benefit decisions is important to us.
Here are a few ways that you can improve the quality of your open enrollment:
1. Communicate.
Set a communication schedule so that employees know important dates, plan changes, impact and the penalties for not enrolling. Increasing awareness and providing instructions helps employees make the best decisions in a timely manner. Using a multi-faceted communication strategy that includes postcards, videos, benefit guides, office posters, emails and text messages can ensure that everyone enrolls on time.
Some things to consider for optimizing communications are:
- Send frequent reminders and notifications.
- Use automation to simplify the process.
- Be clear, concise and thorough, especially in emails.
2. Educate.
The best time to share the value of the benefits package is prior to open enrollment. Educating employees on how to get the most out of their plans will increase participation and help them make better healthcare and financial decisions. It is also important to remind employees of other benefits that they have access to such as employee assistance programs, a healthcare concierge or telehealth services.
Some other ways to inform employees include:
- Schedule in-person meetings in small groups to review benefit changes and answer questions.
- Hold online webinars to highlight different areas of their benefits bundle.
- Promote materials that walk employees through their coverage.
3. Automate.
When it comes to routine tasks, automation can really speed up the process. A system that has this capability can save time, money and increase accuracy of data. Automating the enrollment process for employees can also be a big benefit. This eliminates paperwork, automates regulatory reporting, frees up your and your employees’ time to focus on other things and ensures compliance.
Automation has transformed the lives of our customers. That’s why, at BenefitElect, we offer it in our benefits administration and enrollment platform.
4. Run analytics.
During the enrollment period, it is important to know what is going on. Running regular reports is a good way to monitor the numbers, so that you can resolve pressing issues before it’s too late. Scheduling reports in advance can further save valuable resources. It also ensures that you get the information you need, when you need it.
BenefitElect provides you with the right tools to prepare for a successful open enrollment. Take a look at these videos to see how we make enrollment easy for HR professionals and employees.
BenefitElect – Employee Experience:
BenefitElect – HR Experience:
