Open Enrollment Tips This Year

For open enrollment this year, make sure you budget your business’ healthcare benefits, ensuring you are set up for success. New research is showing that in 2023, healthcare plans per employee are going to increase more than 8.6%. As employers, it’s important to reevaluate your health plans to ensure employees have the proper education when it comes to their benefits options. Using surveys as well as open communication is essential in helping your staff wade through the waters of open enrollment successfully.

The best way to help your employees with their benefits options is through their smartphones, laptops or tablets that they use on a daily basis. With almost a third of employees avoiding medical care to save more money, make sure you are adequately providing your employees with the tools and information they need so that they can utilize their healthcare platforms effectively.

With 155 million people in the U.S. relying on healthcare coverage that is employer-sponsored, it’s essential employees spend more time selecting their benefits options during open enrollment. This starts with employers talking about benefits more than once a year. If you include helpful, short informative messages to your employees over time, there will be more excitement during open enrollment and more informed decision making.

With medical plan costs and premiums expected to rise this year, and with premiums getting 10%-14% increases, employers should prioritize the benefits that employees want to see. One way to do this is by conducting employee surveys to figure out the benefits that are highest in demand.

For more information contact Eric Allen Kauk, Esq., LL.M. at (813)-203-0208 for guidance.