Effective communication to employees can sometimes be a moving target. Still, missing open enrollment can make a bad situation worse. Many employers even offer benefits education during open enrollment to help employees understand their options and make informed decisions. Section 125 plans are used by most employers that offer health coverage, as they are the mechanism that allows . Regularly educating employees: Providing multiple information channels during open enrollment can ensure that employees are well-informed and have the resources to make decisions about their benefits. Some are closer to retirement than others, some have a larger savings safety net than others, and some have more pressing upcoming expenses than others. Written by Here's what this kind of targeted advice might look like in an email you send to your workforce. document.write(new Date().getFullYear()); Subject Line: Were Two Weeks From Open Enrollment! The IRS states that a qualifying event must have an impact on your insurance needs or change what health insurance plans that you qualify for. Keep it brief. When open enrollment ends, we know you'll receive an influx of employee questions about their options to sign up for healthcare. Here are the key components of the email. You want to give your employer time to reassign any of your tasks. ", "Americans tend to miss the mark when they stick with what they were doing before without double-checking their assumptions," said Kelley Long, a member of the AICPA Consumer Financial Education Advocates panel. Mr. James started his insurance career in 1993 with American Fidelity in Lubbock, Texas and remained with them until 2000. Its a good idea to create simple and comprehensive policies and procedures so youre prepared in the event of an SEP. Applicable large employers (ALEs) under the Affordable Care Act (ACA) may have additional concerns. coverage qualify for a special enrollment period to enroll in a Marketplace plan outside of the annual open enrollment period and may select a plan within 60 days of losing job-based coverage (either 60 days before or 60 days after). Everything You Need Is Inside! If you experience one of these life events, you'll want to get in touch with your FSA administrator within 30 days of the event to find out if you are eligible to make changes to your plan. Hopefully, we'll be able to restore your employment after this critical time. If employees do miss open enrollment, provide opportunities for them to meet with HR or attend informational meetings that discuss their options to obtain coverage for the next year. The deadline to make any changes will be [DATE]. Sample 3: Letter of permission for missing work due to an important matter. And missing the deadline can have serious consequences for your employeesincluding loss of coverage or the inability to change coverage options. 401Ks, IRAs, compounding interest, employer matching its enough to make the average employees head spin. How to Draft a Open Enrollment Email to Employees (With Template). Employees who experience qualifying life-changing events (such as getting married, divorced or legally separated, having or adopting a child, or moving to a new residence or work location that affects benefits eligibility) are eligible to enroll in or make changes to their benefits elections outside of the open enrollment period. The official dates are [DATE] to [DATE]. Additional education can come in the form of personal worksite consultations, one-on-one appointments with HR representatives, seminars, webinars and self-paced e-learning modules. Russ holds a Life, Accident & Health insurance license and a Risk Managers license through the Texas Department of Insurance, and brings to FBS over thirty years of risk management and pool administration expertise. Employee satisfaction is one of the most important avenues toward greater productivity and business growth. }
She encourages employees to ask themselves the following questions to be sure they are making the best choices for themselves and their families during the year ahead: "If you answered 'yes' or you're not sure about the answers to these questions now is the perfect time to revisit your benefits. Learn how SHRM Certification can accelerate your career growth by earning a SHRM-CP or SHRM-SCP. Her short-term financial situation is secure, so shes in a position to focus on her long-term goals. In fact, there's a good chance that the terms of your employer's benefit plan don't allow any exceptions or changes for employees who make mistakes or miss the open enrollment period altogether. ", [SHRM members-only toolkit:
Surveying your employees will help you clarify their benefits options and the open enrollment process, and it can demonstrate that you are willing to set aside time to help answer employee questionspotentially reducing the number of employees that miss open enrollment. Learn more, Money Girls Quick and Dirty Tips for a Richer Life. Offer health, dental, vision and more to recruit & retain employees. Make Time for Employees Who Missed Open Enrollment. HR reps, the AICPA advised, could share this message with employees: "By just staying the course without reviewing all the options available, you could be missing crucial opportunities to saveor worse, choose a plan that doesn't properly cover your family's health care needs. Most employees receive a flood of work-related emails every single day. Get benefits strategy and communication tips that will make you even better at your job. What is Evidence of Insurability (EOI)? ), Example #2: Dave, Who Has No Emergency Fund. "There are many factors, both in a benefits plan and in one's personal life, that can change every year. In order to offset any decrease in morale, it is important that you provide opportunities for the employee to meet with HR or to attend informational meetings that discuss his or her options to obtain coverage for the next year. 4 out of 5 can find a marketplace plan for $10 or less a month with cost assistance! The open enrollment process is often confusing and time-consuming. If you're married, discuss your elections with your spouse to ensure that the whole family is on the same page for the upcoming benefit year. Coop Consulting Agreement var currentUrl = window.location.href.toLowerCase();
Keep in mind, though, that employees must make changes to their flexible spending accounts or health savings accounts each year. Here's our employee furlough letter sample: Dear [ employee_name ], I'm sorry to inform you that your position will be put temporarily on furlough due to urgent business conditions, from [ date] to [ date ].
Here's what to tell them. Even with weeks of communication in advance, employees may report that they missed open enrollment at work. For Workers and Families For Employers and Advisers If you've lost your job, had your hours reduced, or experienced other qualifying events there are options available to workers and their families to maintain health coverage, including the Consolidated Omnibus Budget Reconciliation Act, or COBRA. Build specialized knowledge and expand your influence by earning a SHRM Specialty Credential. Deadlines are vital when it comes to open enrollment. They influence President Biden signed the Pregnant Workers Fairness Act into law on December 29, 2022 BerniePortal is the all-in-one HR software solution at a fair price, so HR can focus on providing a good place to work. The open enrollment survey questions you ask largely will depend on the goals you are trying to measure. - Workest Your Employee Missed Open Enrollment for Health Insurance. I realize that you, too, need to meet your monthly obligations in a timely manner, and such delays do not help. He is a graduate of Texas Tech University with a Degree in Education. If you missed open enrollment through your employer, you've probably already asked for their help but there may be nothing they can do. Kyle was hired by FBS as one of our first benefit consultants in 2001 and became the President of the company in 2005. Demonstrating to your employees that their needs are important to you will instill high employee morale, and ensuring that you have done all that you were required to do in regards to ACA regulations will protect your business in the event that an employee misses the open enrollment deadline. Learn how ALEX makes benefits engagement a breeze for HR teams and consultants. Open Enrollment Period: October 10, 2022 - October 31, 2022 This is the annual opportunity for you to make changes to your benefits and to add or drop eligible dependents from coverage. I apologize for the delay in sending last month's paychecks. document.head.append(temp_style); You may be trying to access this site from a secured browser on the server. What's New 2023 Open Enrollment Announcement Health, Dental and Vision Plan Costs PPO Saver - High Deductible Health Plan Information Open . Business Associate Agreement Your session has expired. Format for absence excuse letter. Open Enrollment is your annual opportunity to review your benefit plan options and make . Open with an engaging subject line and immediately set a positive tone. Please log into our benefits portal to make elections, update your contact information, and make any status changes. Each year host a debriefing session to understand what worked and how to improve open enrollment the following year. The UCPath Center mailed an Open Enrollment notice and Open Enrollment Form to employees who were on an unpaid leave of absence as of September 30, 2021. Keep your health in check For employer-sponsored health coverage, special enrollment period rules are in the Code of Federal Regulations. At Ignite HCM, we assist human resources administrators in streamlining processes. $("span.current-site").html("SHRM China ");
Benefit terms would run from January 1st to December 31st. Well, in an ideal world, youd be able to pair up every one of your employees with a savvy and charming financial guru who could look at their unique financial situation, and give tailored recommendations on how they should be spending their free dollarsi.e. The benefits open enrollment period is typically the only point during the year in which your employees can make changes to their benefit electionsincluding adding or dropping coverage or dependents, switching plans, or even enrolling in benefits for the first time. Attached is a flier with more details but please reply here and let us know if you have questions! We endeavor to answer all inquiries within 24 hours on business days. Legally, employers are not required to do anything for employees who have missed the open enrollment deadline. var temp_style = document.createElement('style');
To get the ball rolling, a robust open enrollment email to employees is vital. Help employees save for retirement and reduce taxable income. Here are a few tips to make OE emails engaging and drive participation. You can also take an email communication and post it to the employee portal on your website. Only about one-third of employees (34 percent) have a . SHRM Online, October 2019, Simple Open-Enrollment Tips That Can Make a Big Difference,
Please purchase a SHRM membership before saving bookmarks. Open enrollment begins [DATE] and closes [DATE]. Accessibility and clarity of complex information give employees and employers a better experience and promote higher levels of participation. Lets use a fall open enrollment as an example. In either case, the qualifying life event would trigger a special enrollment period that would make you eligible to select a new individual insurance policy through the state marketplace. Her past insurance experience includes roles as Marketing Supervisor, Account Management, and Account Executive at one of the largest insurance carriers of some of the largest employers in the state of Texas. In fact, the terms of your benefits plans may prohibit you from making exceptions for employees who do not make benefits elections within a certain time period, such as before the new plan year begins. And to make matters worse, employees are skittish about their retirement savings right now thanks to COVID. When it comes to your open enrollment elections, the best thing you can do is take your time and be thorough to minimize the chance of making mistakes. 2023 Open Enrollment Obamacare Health Plans Find 2023 health plans. Jellyvision acquires Picwell to simplify the employee benefits puzzle! You can get your own copy here. And because theres a limited amount of time to make these important decisions, it can be a confusing (and often overwhelming) experience for employers and employees alike. Short-term insurance is a plan that provides health insurance for 30-364 days (depending on your state) to act as a stopgap when there is a lapse in longer health coverage. As you know, open enrollment is open now and closes [DATE]. Health Insurance Renewal Sample Letter to Employees By Mary Gormandy White, M.A., SHRM-SCP, SPHR YinYang / iStock via Getty Images If it's time for your company's group health plan to renew, it's advisable to notify your employees about the new plan options in writing. Whenever someone loses their job, they want to hear that their loss is validated. You have successfully saved this page as a bookmark. These are just a few quick tips. This site is protected by reCAPTCHA and Google, Minimum of 1 special character ($%/()[]{}=? Did the employee miss open enrollment because of. Pretty good! For exactly that reason, its important to make sure you go beyond encouraging higher and higher 401(k) contributions (which only some employees can manage) and, instead meet your entire workforce where it iswith more empathetic, targeted, holistic financial guidance. SHRM Online, September 2019, 10 Questions for Employees Choosing a Health Plan,
Insurance and benefits plans can be cost prohibitive for companies that run smaller operations and/or do not have a large workforce. ensure a successful open enrollment period. Following this time frame, your open enrollment email to employees would go out in mid-September. Asking for employee feedback: Employees can be a great resource for offering suggestions about the best ways to structure benefits enrollment to ensure maximum participation. Flex-Ed: Mistakes During Open Enrollment Can You Change Elections? Provide contact information to let employees know how they can access Q & As, learn more about their benefits, and how to contact the human resources benefits specialist. Did I pay out-of-pocket expenses this year that could be covered by an insurance option next year? Hi team, Putting money away for your retirement is important, but how important depends on the financial . In fact, the terms of your benefits plans may prohibit you from making exceptions for employees who do not make benefits elections within a certain time periodsuch as before the new plan year begins. Joan has a few thousand dollars saved for emergencies and no high-interest credit card debt. If an employee misses open enrollment, its important that HR first respond with empathy and understanding. These waivers also protect an employee's ability to immediately enroll for benefits if they lose coverage from an outside health plan, such as a spouse's employer. Employees who experience qualifying life-changing events (such as getting married, divorced or legally separated, having or adopting a child, or moving to a new residence or work location that affects benefits eligibility) are eligible to enroll in or make changes to their benefits elections outside of the open enrollment period. To avoid these penalties, document that coverage has been offered by requiring employees to sign either: To help your employees make the most out of the open enrollment period and the benefits your company provides, consider implementing the following strategies: Offering benefits education to your employees prior to and during the open enrollment period can help minimize confusion and cut down on time spent addressing commonly asked questions.
What Happens If an Employee Misses Open Enrollment? Make Sure You're Getting the Best Deal, Jaleigh White, a member of the AICPA Financial Literacy Commission, noted that "even though the volume of an open-enrollment benefits package can seem overwhelming, employees would benefit from taking 30 minutes, at least, to read through all materials and explore the impact of any changes the company is making to their benefits, and carefully consider any changes to their personal situation that could impact their elections for the coming year.". Every employee has his or her own preferences when it comes to receiving important information. Copyright 2023 Financial Benefit Services: Employee Benefit Solutions. It's possible the employee had actually selected benefits but failed to confirm their election for some reason. Open enrollment is complex enough as it is. All rights reserved. ACA Compliance, Medical Consulting Employees who experience qualifying life-changing events (such as getting married, divorced or legally separated, having or adopting a child, or moving to a new residence or work location that affects benefits eligibility) are eligible to enroll in or make changes to their benefits elections outside of the open enrollment period. SHRM Employment Law & Compliance Conference, stress their importance and provide education on how to properly use them, digital apps and online portals with built-in decision support, Employers Enhance Emotional and Mental Health Benefits for 2020, Simple Open-Enrollment Tips That Can Make a Big Difference, 10 Questions for Employees Choosing a Health Plan, 3 Open Enrollment Reminders for Employeesand HR, New OSHA Guidance Clarifies Return-to-Work Expectations, Trump Suspends New H-1B Visas Through 2020, Faking COVID-19 Illness Can Have Serious Consequences, U.S. Companys Mandatory Video Surveillance Violated Dutch Rights, Leading Difficult Conversations About Layoffs.