The portal can also include a count-down counter to encourage employees to enroll. Be sure to communicate the time period with employees. In order to ensure that none of our employees in this status were missed by the cutoff date,HR Leave Administration will email an Open Enrollment reminder this week to all. What's New 2023 Open Enrollment Announcement Health, Dental and Vision Plan Costs PPO Saver - High Deductible Health Plan Information Open . Joan has a few thousand dollars saved for emergencies and no high-interest credit card debt. Now What? Russ holds a Life, Accident & Health insurance license and a Risk Managers license through the Texas Department of Insurance, and brings to FBS over thirty years of risk management and pool administration expertise. During open enrollment, HR representatives often block off hours in their calendars to respond to employee questions about coverage, requirements, and deadlines. Client Testimonials In fact, the terms of your benefits plans may prohibit you from making exceptions for employees who do not make benefits elections within a certain time period, such as before the new plan year begins. Send them out as soon as you know that the applicant is not suitable for the role. Learn how SHRM Certification can accelerate your career growth by earning a SHRM-CP or SHRM-SCP. If Dave finds himself suddenly having to pay for something unexpected (like a broken transmission or a flooded basement) and doesnt have cash saved up, his options for paying off this bill are to a) raid his existing 401K funds and pay a penalty, (b) take out a loan against his account, reducing his after-tax pay by paying back principle and interest, or (c) use a high-interest credit card. An announcement is made via email to ensure employees are informed about open enrollment dates and benefits being offered. If you are asking for a longer leave of absence, send this letter as early as possible. Get ready to discuss all things benefits! The good news is that were here for you every step of the way! Short-term insurance is a plan that provides health insurance for 30-364 days (depending on your state) to act as a stopgap when there is a lapse in longer health coverage. See attached flyer. This option is designed to provide temporary coverage in case of emergency health situations until the employee can regain permanent health insurance. At this point, there is not much more that you can do for him or her unless he or she qualifies for an SEP. Dave lives paycheck to paycheck and doesnt yet have an emergency fund. SHRM Online, September 2016. You have successfully saved this page as a bookmark. If youre encouragingallyour employees to putas much as they caninto their 401(k), I hate to break it to you, but you may be causing more harm than good. Here are the key components of the email. RE: 2022 Open Enrollment communications to employees on leave of absence. Health Insurance Renewal Sample Letter to Employees By Mary Gormandy White, M.A., SHRM-SCP, SPHR YinYang / iStock via Getty Images If it's time for your company's group health plan to renew, it's advisable to notify your employees about the new plan options in writing. , G&A Partners. We encourage all employees and supervisors to treat others with equality and respect. Pointers to pass along as open enrollment gets underway. As Billing Manager, she assists in the day to day accounting processing for her team and is available to handle any escalated billing matters. Subject line: Let's get smarter about 401K savings. By incorporating the mission of the university and the code of conduct, we believe strong communication will enhance understanding and foster positive work environments. Gain the intel you need now to successfully anticipate and navigate employment laws, stay compliant and mitigate legal risks. He would lose more money than hed gain if still carrying that debt. Benefits Technology These are just a few quick tips. ", [SHRM members-only toolkit:
ensure a successful open enrollment period. Making changes to how open enrollment is presented and discussed with a strategic plan can alleviate much of the frustration. Russ continues to support districts across the state with their risk management programs. And there is a tool that can make that happen. If youre offering new plans, however, passive enrollment isnt an option, so allow additional time and resources to communicate and follow up with employees. Pay employees your way and automate tax payments. After all the time and attention that HR pros give, missing open enrollment can make a bad situation worse, An employee may be in luck if they have a, a change to an individuals circumstances, which allows them to, Short-term, or limited-duration, coverage is a health insurance plan that is meant to only last a short time, like a few months to a year. Sushma Tripathi, vice president of strategic advisory services at ADP, an HR management software and services provider, offered the following starter questions HR can ask to engage employees during open enrollment. The open enrollment process is often confusing and time-consuming. In fact, there's a good chance that the terms of your employer's benefit plan don't allow any exceptions or changes for employees who make mistakes or miss the open enrollment period altogether. Surveying your employees will help you clarify their benefits options and the open enrollment process, and it can demonstrate that you are willing to set aside time to help answer employee questionspotentially reducing the number of employees that miss open enrollment. document.getElementById( "ak_js_3" ).setAttribute( "value", ( new Date() ).getTime() ); Give us a ring, send an email, or fill out the form below. What Is a Dependent Care FSA and How Does It Work? In order to prevent these issues, it is important to understand what it means when an employee misses open enrollment and how it can affect your businessbefore it actually happens. Demonstrating to your employees that their needs are important to you will instill high employee morale, and ensuring that you have done all that you were required to do in regards to ACA regulations will protect your business in the event that an employee misses the open enrollment deadline. If you have not defined any specific goals, then start by focusing on the enrollment experience as a whole, for example what did your employees like and what do they want to be different for next year. While just keeping whatever health coverage they had this year is tempting for employees, doing so may come with a substantial financial downside. As the Director of Client Services at FBS, Cathy oversees the Billing, Clent Service, and Account Executive teams and is available to assist in escalated matters, if necessary. The IRS states that a qualifying event must have an impact on your insurance needs or change what health insurance plans that you qualify for. Use this opportunity to set your finances up for your best 2020. Employees digest information in different ways. For exactly that reason, its important to make sure you go beyond encouraging higher and higher 401(k) contributions (which only some employees can manage) and, instead meet your entire workforce where it iswith more empathetic, targeted, holistic financial guidance. Emails are essential for company-wide communication because every employee gets assigned a company email when hired. Here are some points you can (and should) include: Be Concise, and Swift. Remind employees they will receive a confirmation of their changes. This site is protected by reCAPTCHA and Google, Minimum of 1 special character ($%/()[]{}=? (800) 583-6908 So, open enrollment can easily pass some by. Posted on December 9, 2021 Subject Line: Were Two Weeks From Open Enrollment! Individuals who are below the income thresholds set by the government's programs can apply for coverage any time of year. Keep your health in check But how do you make sure your benefits communication strategy is up to par? When writing an open enrollment letter, here are 5 things you should include: Timing: Open enrollment periods are often only a few weeks long. The attachments can include: Getting essential information to employees is vital but shouldnt overwhelm the employee. Bonus tip: Dont just send all these links in a one-time email. The Covered Connecticut program allows eligible applicants to enroll anytime. A special enrollment period is a designated time outside of the standard open enrollment period for employees to change or update their insurance plan elections that are granted when the employee experiences a qualifying life event. Flex-Ed: Mistakes During Open Enrollment Can You Change Elections? Your friend isn't necessarily looking to get placated when they give you the bad news, and they may not have prepared for the adversity. Learn how Jellyvision can help you solve your clients toughest challenges. Its recommended the announcement email should go out two weeks before benefits packages are made available to all employees. Written by But since he has high-interest credit card debt, Greg probably shouldnt contribute any more money to his 401Kbeyondthe match until his debt is repaid. As an Account Executive, she was a key team member on the TRS-ActiveCare account from its inception through the duration of the contract. The information may not reflect the most current legal developments, may be changed without notice and is not guaranteed to be complete, correct, or up-to-date. If you're married, discuss your elections with your spouse to ensure that the whole family is on the same page for the upcoming benefit year. -Serve or call a benefits coordinator in the MCC Employee Benefits Department. "I'm sorry to hear you lost your job. Be sure to include these details in your letter. It can be beneficial to ask your employees if they like the way information is being provided to them, if they would prefer information to be distributed in different ways, or if they have any questions that have yet to be answered. $(document).ready(function () {
Here are a few ideas: Also consider other help emails that explain the process in greater detail. Requiring waivers of coverage: Waiver of coverage documents verify that employees reviewed and declined benefits options during the open enrollment period. Have an upbeat message to let employees know this is a positive engagement. Heres what you need to do to get and early start: [Instructions]. We endeavor to answer all inquiries within 24 hours on business days. (Feel free to copy-pastewe wont tell. Category. Relocation - Moving won't always affect your eligibility, but sometimes moving to a new home address or a new work site can, especially if it's in a new state with different regulations. Be sure to check your state laws. To request permission for specific items, click on the reuse permissions button on the page where you find the item. Therefore, your open enrollment for the new year will take place in October. Missing open enrollment means limited options, but here a few situations to consider: If an employee misses open enrollment, its important that HR first respond with empathy and understanding. When employees miss open enrollment and lose health coverage, this can add financial and emotional burdens that may affect their health, well-being, and productivity at work. ", "Americans tend to miss the mark when they stick with what they were doing before without double-checking their assumptions," said Kelley Long, a member of the AICPA Consumer Financial Education Advocates panel. If you don't have time to send a formal letter, consider sending an excuse email instead. Financial Services Agreement Employees disseminate information differently, so you may need to consider other methods of engagement. And because theres a limited amount of time to make these important decisions, it can be a confusing (and often overwhelming) experience for employers and employees alike. Your employer is not legally obligated to allow you to make changes to your elections after the open enrollment period has ended. Her past insurance experience includes roles as Marketing Supervisor, Account Management, and Account Executive at one of the largest insurance carriers of some of the largest employers in the state of Texas.
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