07 Aug

Posted at 16:23h in COVID-19, Employee Benefits by . .

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.

According to Mercer's Global Survey #5, 20% of employers surveyed said updating benefits programs to better meet employee needs was an HR area in which companies are seeing an increased need for support. In addition to considering plan design changes, employers are having to evaluate and adjust their benefits packages for 2021. Some of the most common changes being made for the 2021 enrollment season are outlined in this article.

05 Aug

Posted at 22:43h in Employee Benefits White Papers by . .

Open enrollment following the COVID-19 pandemic will be unlike any other in recent memory.

Many organizations are still trying to recover from extended closures and maintain safe working environments—open enrollment is the last thing on their minds. Yet, procrastinating on enrollment planning can actually cause more issues than it solves. This article explains what employers can expect this enrollment period and how to prepare.

05 Aug

Posted at 20:46h in Employee Benefits White Papers by . .

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.

These fairs are typically done in person, and they allow employees to learn about available benefits and discuss offerings with providers. Just as the COVID-19 pandemic may be changing what employees need for benefits, the format of open enrollment events should change, too. With open enrollment season around the corner and many organizations extending work-from-home policies, a virtual open enrollment fair may be necessary. This article explores benefits and best practices for organizations moving their open enrollment events online.

05 Aug

Posted at 20:28h in Employee Benefits White Papers by . .

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.

In addition, any changes to a health plan’s benefits for the 2021 plan year should be communicated to plan participants through an updated summary plan description (SPD) or a summary of material modifications (SMM).