Open enrollment is a critical period for human resources managers, business leaders and employees, especially as the health care landscape and workplace culture continue to evolve. Rising health care costs, inflation, hybrid work models and increased employee expectations have reshaped the open enrollment process.
To ensure a successful open enrollment, consider a range of strategies that prioritize communication, technology, voluntary benefits and addressing rising health care costs. Also, the earlier you get started on this process, you’ll have more time to explore your options, negotiate plans and develop an employee benefits plan that best suits your team collectively.
Ask your employees.
Before open enrollment begins, gather feedback to understand employees’ needs, concerns and expectations. Conduct surveys or hold listening sessions to gauge their preferences. Are they looking for ways to manage health care costs or interested in additional employee-paid options?
Set clear objectives and metrics.
Establish clear objectives and metrics to gauge the success of open enrollment. Determine what you want to achieve as an employer. Are enrollments mandatory, or is carryover acceptable? Defining success will guide your strategy and help measure its effectiveness.
Embrace technology and traditional communication.
Digital communication is essential, especially if your team is virtual or spread across multiple office locations. Virtual employee benefits fairs, online portals, Zoom meetings and interoffice communication platforms make it easier to reach employees.
However, don’t neglect traditional communication methods such as personalized guidance, group meetings and one-on-one counseling sessions to connect with employees. Consider sending benefits information via snail mail to engage spouses and family members who often influence health care decisions.
Discuss and explain health care costs.
Health care costs are on the rise, and employees need clarity about their implications. If your company plans to increase premiums or deductibles, communicate this well in advance. Provide explanations to ensure employees are not caught off guard. Encourage discussions about how employees can become more informed health care consumers and save money throughout the year.
Educate on health savings accounts.
Open enrollment is the perfect time to explore the addition of flexible spending accounts and health savings accounts. If you already offer one of these account plans, educate your employees of the full range of expenses these accounts can cover. Explain how FSAs and HSAs can be used for over-the-counter medications, routine clinic visits, surgical procedures, dental care and more.
Highlight voluntary benefits.
Voluntary benefits are gaining importance due to the rising cost of living. Offer voluntary benefits like supplemental health coverage, critical illness, accident insurance and hospital indemnity to help employees manage health care expenses. These options can fill gaps left by traditional health plans and provide financial relief.
Promote all benefits offerings.
Open enrollment isn’t just about health plans – it’s also a chance to educate employees about all available offerings. Promote wellness programs and mental health resources, particularly given the increasing focus on employee well-being. Share real-life stories from employees to make these initiatives relatable and compelling.
Business leaders and HR managers must adapt to changing circumstances and employee needs during this busy open enrollment season. Organizations can enhance employee satisfaction and well-being by proactively engaging with employees and tailoring benefits offerings to their preferences while helping them manage rising health care costs.
Don’t wait until the last minute to begin your open enrollment process. You may find yourself selecting the first option handed to you instead of weighing your options and developing a comprehensive plan that addresses your employees’ priorities. The employee benefits experts at CanopyNation are ready to guide you through the exploration and enrollment processes. Contact us at hello@joincanopynation.com or 901-805-2860.