The following important tips will help your company plan a successful open enrollment.
Tip #1: Design a Clear and Concise Open Enrollment Announcement
Make sure your open enrollment announcement clearly summarizes key information, including:
- Open enrollment period dates for all benefits
- Pre-tax contribution rates by specific benefit
- Post-tax contribution rates by specific benefit
- Premium increases (if any)
- Any benefit changes
Tip #2: Create and Follow a Schedule for Communicating Open Enrollment Information
Create a timeline to distribute the required communication materials to help ensure a successful open enrollment. The following is an example of a potential timeline:
- Email and/or mail your open enrollment announcement 7-14 days prior to the open enrollment period
- Send email reminders 1-3 days before the open enrollment period begins (include FAQs as an effective way to respond to the most commonly asked questions)
- Send a reminder on the 1st and 2nd days of open enrollment to all employees, which includes information such as open enrollment requirements and deadlines
Tip #3: Determine Employee Eligibility
If your company is subject to the “pay or play” provisions under Health Care Reform (generally employers with 50 or more full-time employees, including full-time equivalent employees), be sure you have used proper methods for determining whether an employee has sufficient hours of service to be considered full-time, and therefore eligible for health benefits, to avoid penalties. Even if your company is not subject to the “pay or play” provisions, it would be prudent to confirm the eligibility requirements for particular benefits.
Tip #4: Distribute Required Benefits Notices or Disclosure Statements
Ensure that required notices are distributed, such as a Summary of Benefits and Coverage (SBC), Summary Plan Description (SPD), and HIPAA Notice of Special Enrollment Rights. (If you need a template pack for your open enrollment notifications, we can help. Just click here.)
Tip #5: Don’t Overlook the Human Touch
Make sure that there is a company representative accessible to employees throughout the enrollment period who can answer questions and serve as a resource. Allocating staff time to this is a wise investment that will limit frustration and ensure a better experience for employees as they enroll.
Right now, Ebix is offering a free open enrollment notifications template pack for any Benefits Broker or HR/Benefits professional currently going through OE. To download your free copy, click the button below.