Open Enrollment 101
The concept of Open Enrollment can be like a thriller movie, it can have its ups and downs and be scary throughout for both the company and its employees. Balancing the costs of insurance with the desire to provide your employees with the best possible options, also answering the challenging questions of about Affordable Care Act (ACA) can give HR departments major headaches. But with careful planning and communication, the stress of Open Enrollment can become manageable.
- Communication- it’s essential to keep your employers informed. Here at OneSource Virtual, our HR Director, believes that the most efficient way to have planned communications in place to inform your employees in set cycles following the 90-60-30 rule. Communicate 90 days before Open Enrollment begins explaining what is coming and possible changes. At 60 days notify them again, and by day 30 you alert them and prepare them for the process. As long as you plan accordingly and communicate with your teams, your open enrollment process will be effective.
- Utilize technology: With the “cloud” having such remarkable availability you have access to your data and documents without the burden of paper copies. Using technology for you and not against you will make the process effective and easy. No longer do you have to keep asking HR for the enrollment forms, spend hour(s) handwriting the needed information, and worries of your enrollment packet being lost or being submitted properly.
- Finally, pick the right plan to fit the needs of your employees. There are multitudes of plans available to employers these days. Companies are no longer beholden to a few large insurers. Having the right benefit plans can make the difference between, retaining your current employees, hiring a great candidate from a competitor, or losing a potential candidate to a competitor with a better benefit package.
Whether you have done open enrollment a dozen of times, or it is your first time, rest assured that with communication and planning in place, you will be set up for success! Contact OneSource Virtual to learn how we can help ease your burdens today!