Open enrollment season is upon us and if you are like most employers, you’d like to bury your head in the sand and pretend that it’s not happening.
What is Open Enrollment?
Open enrollment season occurs annually and is the time when your employee benefit plans renew. During this time, you, as the employer, should reevaluate your plan offerings and employer contribution. This is the time to choose a benefits package for the new plan year that balances cost and value. In addition, carriers typically implement rate and benefit changes during open enrollment.
This all needs to then be communicated and rolled-out to employees. As employer-sponsored benefits transition to more voluntary, employee-paid or employee-subsidized offerings, employees must assume more control in making smart decision. Benefit information should be provided and communicated to employees in an easy to understand way.
All in all, this is typically a 60 – 90-day process and can become quite cumbersome.
How a Cutting Edge Broker Can Facilitate the Process
This is where an OUTSTANDING benefits broker comes into play. Leave it up to the team at CorpStrat to make the open enrollment process smooth for both you and your employees.
Following are just some of the tasks CorpStrat’s Employee Benefits Specialists can handle for you during open enrollment:
- Collect, negotiate and communicate the renewal specifics to you, the employer
- Shop the insurance market to ensure your company is set-up with the benefits that fit your needs, at the most competitive rates
- Present clear options, discuss each and make a recommendation of how we suggest you should proceed for the upcoming plan year
- ALWAYS ensure you are in compliance with benefit mandates
- Communicate all changes and options to your employees in an easy to understand manner
- Answer all questions and concerns employees may have – ‘handhold’ them through the process
- Process all changes and follow-up until all are completed
Working with CorpStrat will help you develop a strategic benefits package that works for your budget and offers attractive options to your employees. We can also give you access to educational materials for your employees as you launch your new or improved benefits package. Contact us at 800-914-3564 or send an email today.