Is Your Organization Ready for Open Enrollment 2018?
It’s almost that time again—open enrollment, the period where eligible employees can sign up for health insurance and other benefits for the coming year. This can be a hectic time for employees and HR managers alike, but you can make the process run more smoothly by answering just a few questions that will help you determine if your organization is fully prepared.
5 Important Questions to Ask Before Open Enrollment Begins
Organizations decide what benefits they offer in conjunction with a benefits broker. These benefits can come in the form of traditional medical coverage or a health savings account. But because premiums can rise or fall, insurers can leave or enter markets, and deadlines can change, the health insurance plans that are available may change from year to year or state to state.
With this in mind, your team should be able to answer these questions:
- Have you met with the appropriate vendors about what options are right for your organization?
- Have you made any final decisions about what plans you will be able to offer your employees?
- Have any laws changed, and do you understand the consequences of those changes?
- Do you have the appropriate resources in place to be ready for upcoming deadlines?
- Has your vendor provided you with any rate sheets you can share with your Workday service partner?
Have a Successful 2018 Open Enrollment Period
Because employees can only make benefits elections during the open enrollment period, being prepared is crucial. Just as important is making sure your employees are equipped with the information they need to make informed decisions for themselves and their families. But if your human resources team is not adequately prepared with an employee benefits plan before the period begins, it can be difficult to provide them with the support they will need in the coming months. Being able to answer these key questions will help your organization have a successful, stress-free open enrollment period.