Health care benefits can be a top recruitment tool for attracting top talent, making it essential that you ensure your employees clearly understand their options and are able to make an informed decision. Truss recommends HR and benefits professionals make this process easier by thoroughly explaining any changes before and during the busy open enrollment period.
Even when employers offer only two or three health plan options, the serious decision to select the right coverage at open enrollment can overwhelm employees.
Are there any changes?
Years ago employer-offered coverage varied little year to year making it easy to simply roll over benefit elections. Unfortunately, the days of easy selection have passed.
Today, we more and more employers are looking for ways to reduce the cost of health care. This includes offering plan designs with higher out-of-pocket cost costs, which means employees must compare plans and understand the potential costs. For example, deductibles might double or co-pays could rise.
Change is normal but even with just a slight increase, families need to understand out-of-pocket costs so they can budget appropriately.
Many employers successfully use a multipronged approach before, during and after open enrollment by holding in-person meetings, health fairs, webinars, and online portals or apps that centralize all of the year’s benefit information.
Most companies should begin their Open Enrollment communication campaigns 60 to 90 days before open enrollment starts. Larger companies may see the need to start earlier. The industry standard for the open enrollment period is 30 days; most small to mid-size companies still hold it in November.
In the end, a successful open enrollment campaign helps employees understand any impending health plan changes, review their options, and select the right plan for themselves and for their family.