Congratulations, you made it through Open Enrollment! As tempting as it is to pat yourself on the back and move on to the next project, now is the best time to evaluate how everything went.
In addition to conducting an employee survey or talking to colleagues around the espresso machine, your benefits broker should have valuable insights into the success (or failure) of your open enrollment. They also should be able to suggest improvements for the next period. Here are a few topics where your broker should be able to offer expertise:
From the status of healthcare as a hot-button political issue to rising medical costs, health benefits stay top of mind for most Americans. According to Benefits Pro, the growing desire for voluntary benefits plans exemplifies this trend. And then there are employees who aren’t as focused on medical coverages, but would like benefits like tuition reimbursement and student loan assistance.
Keeping up with trends in the benefits world is important to a broker’s success. Your broker should be able to identify weaknesses in your benefits package (preferably before open enrollment!) and recommend changes to benefits and/or benefit coverage options that will be better received by your organization.
Communication – before, during and after open enrollment – can help drive participation and engagement. In addition to helping you build a comprehensive communication strategy, your broker should have insight into innovative ways to better educate employees about their benefit options and help them identify the right plan for their needs.
After reviewing the open enrollment process, you may determine that the benefits administration platform you used – or the absence of an online solution – impeded open enrollment. This is when it is extremely beneficial to work with a broker who recognizes the value of HR technology in the open enrollment process.