Most employers hold open enrollment during the October through December period because their benefit plan year starts January 1. Open enrollment can be the defining task the human resource department undertakes all year as it has impact on employer and employee costs, employment satisfaction, recruiting and HR interdepartmental relations.
Organizations devote a great deal of energy and countless hours to meet the demands of end-of-year enrollment periods. With all of the details required to budget, plan and execute the open enrollment process, it can easily become a headache-prone project. Well-planned processes and smart technology can help ease the pain for HR and everyone involved. An online enrollment application can be used to collect and verify employees’ benefit elections. Transmitting the enrollment data electronically to the carriers completes the solution by ensuring on-time delivery of benefit elections, eliminating data entry errors, and cutting many HR hours from the process.
Time is of the Essence
HR departments are right now negotiating new plan year benefits with insurance carriers and other benefit providers, looking for the best benefit to cost ratio for their employer and employees. Many are also shopping for new or upgraded benefits admin system with their focus on the upcoming open enrollment projects.
A prospective user of an electronic carrier connection solution needs to allow 60 days to implement it in order to take advantage of improvements this year. This will allow them to fully purchase, implement the program, and then test it. Since most organizations hold their open enrollments at the end of the calendar year, the time frame is starting now to look for automated benefits solutions.
What other tips and tricks are there to making benefits enrollment easy?