For most organizations in the United States, Q4 means juggling the end of the fiscal year, a swarm of holiday PTO requests, and deadlines for yearly goals—all while navigating your employees’ Open Enrollment period.
To keep ahead of the curve and stay organized during this chaotic season, read on for our foolproof Open Enrollment guide.
Open Enrollment is a designated period during the calendar year where employees enroll in or make changes to their insurance plan. For most employer-sponsored insurance plans, Open Enrollment typically happens once a year. While employers can choose their own Open Enrollment period, most organizations host Open Enrollment for only a few weeks annually—usually in Q4 so the plan’s start coincides with the start of the calendar year.
The exact dates can vary, but generally, here’s when you can expect Open Enrollment to occur:
Medicare: For those eligible for Medicare, Open Enrollment runs from October 15 to December 7.
Locked Coverage: Outside of Open Enrollment, employees can only change their elections for employer-sponsored benefits if they experience a qualifying life event. Otherwise, employees are stuck with their chosen policy for the full plan year.
Cost Savings: Health insurance costs can change yearly. Your premium might increase, or your deductible or out-of-pocket costs might go up. During Open Enrollment, you can shop around for a plan that better fits your budget or offers more affordable care.
Benefits are a powerful tool for attracting and retaining top talent, often serving as a key differentiator in a competitive job market. How an employer administers and manages Open Enrollment plays a significant role in this attraction. A seamless, well-communicated Open Enrollment process demonstrates that the company is organized and committed to their employee experience.
Here’s an overview of what the two months leading up to the start of an employer group health plan should entail:
Open Enrollment can be a stressful time for employees. You can ease their stressors by sending out frequent communication regarding the process. The sooner you send out the communication, the better.
You can use the following template to communicate open enrollment to your employees:
Hi team,
It’s that time of year again—benefits open enrollment! For 2023, we are pleased to announce we are maintaining all 2022 [plan types here]. We experienced an overall [describe plan changes].
For example, [3% medical increase, a decrease in dental and vision, and as such your employee contribution will change slightly]. We will again use [benefits administration software] to make our open enrollment elections.
Please review the steps below to complete the open enrollment process by [time] on [date].
Step 1: Log into [benefits administration software] at [website address].
Username: Use your company email address.
Password: If you can’t remember your password, simply select “Forgot Password.”
Step 2: Be sure to check your address and personal information for accuracy, then click on the [Begin Enrollment] link.
Step 3: Follow the guided enrollment instructions within the portal.
Step 4: Log out after you receive enrollment confirmation.
This year, [broker] will be available [onsite, virtually, by phone] on [date] at [time] to answer any questions you may have about the benefits available to you.
As a reminder, enrollment will close on [date] and [if applicable] please note: even if you are waiving coverage, you still need to log in and complete the enrollment process.
Please send any questions you have to [email address].
Thanks,
HR
Notice how the email addresses the following:
Open Enrollment often brings a flood of questions from employees. It’s a time when employees are making important decisions that can impact their health and finances, so it’s natural for them to seek clarity. Employers should be proactive in anticipating these questions and ready to provide clear, accessible answers.
Employers, download BerniePortal’s free resource “10 Questions You May Receive During Open Enrollment”. Having this information at your fingertips ensures you're prepared to provide answers quickly, reducing confusion and enhancing the overall enrollment experience.
You can stay informed, educated, and up to date with important HR topics using BerniePortal’s comprehensive resources: