For employees, it might be even less often. And that’s unfortunate because that means employees may not be maximizing their benefits. That’s why it’s important to touch on benefits throughout the year—to ensure employees are making the most of them.
The COVID-19 Pandemic Has Upturned Everything This Year. So, It’s Understandable If You Are A Little Less Prepared For Open Enrollment At This Point. However, There’s Still Time To Address Open Enrollment With Employees In Meaningful Ways. Doing So Will Help Them Get The Most From Their Benefits, Which Are Especially Valuable In These Uncertain Times.Open enrollment has always been a busy time for HR departments. Now, amid COVID-19, there are even greater challenges for employers to manage—one of the most significant being employee benefits communication.Health benefits costs are almost certainly going to rise in 2021. They’ve been trending upward for years—over 50% in the last decade, according to the Kaiser Family Foundation— and the current state of economic uncertainty over COVID-19 won’t slow things down.
Open enrollment can be an extremely positive and rewarding experience for you and your employees.As the COVID-19 pandemic continues to wage on, its effects on benefits planning for next year are being felt—especially as open enrollment season approaches.Open enrollment following the COVID-19 pandemic will be unlike any other in recent memory.Open enrollment fairs are a great way for employers and benefits providers to help employees understand and enroll in the benefits programs that meet their needs.
To prepare for open enrollment, group health plan sponsors should be aware of the legal changes affecting the design and administration of their plans for plan years beginning on or after Jan. 1, 2021. Employers should review their plan documents to confirm that they include these required changes.