Thank them in advance for doing their part to make this a successful open enrollment. 1.) Join 22,000+ HR pros who receive monthly employee benefits insights, straight to their inbox. (For context, the average 401K contribution in 2020 was 13.5%. [Insert link to benefits portal and instructions]. Benefits Administration She encourages employees to ask themselves the following questions to be sure they are making the best choices for themselves and their families during the year ahead: "If you answered 'yes' or you're not sure about the answers to these questions now is the perfect time to revisit your benefits. At this point, there is not much more that you can do for him or her unless he or she qualifies for an SEP. 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. Picking an annual theme will keep your communications fresh and help unify all of your messages under one umbrella. Regardless of the reason, this common situation can result in added financial burden on the employee, additional missed days at work due to lack of proper health coverage, and frustration for both employee and employer. Posted on December 9, 2021 Bonus tip: Dont just send all these links in a one-time email. If the employee does not make an election in the required time frame the Plan Document calls for a default position to take effect in lieu of the election. Make Sure You're Getting the Best Deal, Jaleigh White, a member of the AICPA Financial Literacy Commission, noted that "even though the volume of an open-enrollment benefits package can seem overwhelming, employees would benefit from taking 30 minutes, at least, to read through all materials and explore the impact of any changes the company is making to their benefits, and carefully consider any changes to their personal situation that could impact their elections for the coming year.". You could have misread a question, been forced to rush through the process, or even miscalculated how much money would be coming out of your paycheck every week. Putting money away for your retirement is important, but how important depends on the financial boat youre in. The open enrollment survey questions you ask largely will depend on the goals you are trying to measure. But why stop there? 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. Announce your benefits portal and upcoming benefits fairs. HR processes need to be in place as a standard business practice. See attached flyer. Session Information: Many companies host open enrollment sessions to help fully explain the offerings. Utilizing as many forms of communication as possible will enable you to reach more employees. Specifically, his 401(k)-related gains7%-9% annually, on averagewould most likely be less than the losses he would take on his credit card, lets say, 13%-17%. This is nothing new. Center for Advocacy, Resources & Education (CARE), 2022 Salary Program for Non-Represented Staff, Resources for Trans and Non-Binary Employees. Track employee time and maximize payroll accuracy. [Instructions or refer to additional resources]. Please log into our benefits portal to make elections, update your contact information, and make any status changes. Keep it brief. Here's our employee furlough letter sample: Dear [ employee_name ], I'm sorry to inform you that your position will be put temporarily on furlough due to urgent business conditions, from [ date] to [ date ]. So, open enrollment can easily pass some by. After all the time and attention that HR pros give open enrollment, it can be hard to imagine how an employee could miss the window for electing their benefits. If appropriate coverage is offered to employees (regardless of whether they enroll) these employers will not be subject to the penalty. Remind your employees about these resources regularly by highlighting a single resource every month. Please submit questions related to Open Enrollment for your employees on leave to Service Now > Leave Administration > Other Leave Questions. Only about one-third of employees (34 percent) have a . The opening of the email starts with a bold header letting employees know its time for open enrollment. Financial Services Agreement * This content is for educational purposes only, is not intended to provide specific legal advice, and should not be used as a substitute for the legal advice of a qualified attorney or other professional. He just cant beat a 100% return on his money. Its the start of Open Enrollment! Hi team, Putting money away for your retirement is important, but how important depends on the financial . The UCPath communications sent to employees are attached for your reference. Are there changes I can make to my budget that would allow me to increase tax-deferred savings through a flexible spending account or a health savings account. Individuals who are below the income thresholds set by the government's programs can apply for coverage any time of year. Depending on who the healthcare plan provider is, there may be contractual agreements that do not allow for enrollment . If feasible, send your excuse letter before you miss work. The IRS and FSA administrators understand that life changes and that you may need to make adjustments to your elections to accommodate for those changes. Build specialized knowledge and expand your influence by earning a SHRM Specialty Credential. Make it easy on you and your team by taking advantage of our action plan and timeline. Well, in an ideal world, youd be able to pair up every one of your employees with a savvy and charming financial guru who could look at their unique financial situation, and give tailored recommendations on how they should be spending their free dollarsi.e. The dates give your human resources department time to process and review employee elections and send them to the benefits providers. He would lose more money than hed gain if still carrying that debt. Coby now serves as the Senior Vice President of FBS managing a team of sales, marketing, and client implementation personnel. Heres what you need to do to get and early start: [Instructions]. If you have questions please send to [email] or attend the upcoming Q&A [Date, time location]. As an Account Executive, she was a key team member on the TRS-ActiveCare account from its inception through the duration of the contract. Here are a few tips to make OE emails engaging and drive participation. Most companies operate on a calendar fiscal year. In. SHRM's HR Knowledge Advisors offer guidance and resources to assist members with their HR inquiries. You can purchase coverage through the marketplace, but you wouldn't be eligible for any subsidy or anything (sounds like you make too much to qualify anyway). $("span.current-site").html("SHRM MENA "); The deadline to make any changes will be [DATE]. By incorporating the mission of the university and the code of conduct, we believe strong communication will enhance understanding and foster positive work environments. This can cause important ones like open enrollment to fall through the cracks or simply be skimmed so they can move on to the next thing. Writing a good job rejection letter is not as hard as you think it is! To prevent these issues, its important to communicate to your employeesahead of timethe consequences of missing the open enrollment deadline. Email is not the only way to reach employees. Why? ACA Compliance, Medical Consulting Youcouldadd the examples above into your general 401K messaging and call it a day. Reach out to our team any time to chat! Bookmark () Riia O'Donnell on Nov 27, 2018 Coop Consulting Agreement 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. Here are the key components of the email. Please enable scripts and reload this page. Get ready to discuss all things benefits! The benefits open enrollment period is typically the only point during the year in which your employees can make changes to their benefit electionsincluding adding or dropping coverage or dependents, switching plans, or even enrolling in benefits for the first time. Although many of these suggestions are not legal requirements, it is in your best interest to take these steps in order to protect your business and its productivity. Remember, this is a guide to get you thinking about your message to employees. HR managers should be prepared to address the common employee question "What is a special enrollment period?" Subject Line: Tomorrow Is The Day For Open Enrollment! Here's what to expect: 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. temp_style.textContent = '.ms-rtestate-field > p:first-child.is-empty.d-none, .ms-rtestate-field > .fltter .is-empty.d-none, .ZWSC-cleaned.is-empty.d-none {display:block !important;}'; In some circumstances, employees may be granted a special exception that allows them to retroactively register for benefits outside the standard enrollment window when they missed health insurance enrollment. Hire, onboard, manage, and develop productive employees. TO: Department Benefit Representatives (DBR's), FR:Tami Schmittgen, HR Leave Administration, Supervisor, RE: 2022 Open Enrollment communications to employees on leave of absence. When it comes to your open enrollment elections, the best thing you can do is take your time and be thorough to minimize the chance of making mistakes. This can happen for a variety of reasons, including a change in family status, work or information overload, or challenges in navigating the benefits enrollment process. Mistakes happen -- and it happens more than it probably should when people are choosing health insurance. Access exclusive research and insights on the future of employee benefits. G&A Partners is a leading professional employer organization (PEO) that offers world-class HR services and a team of experts who can help you navigate employment issues, safety initiatives, and moreduring (and after) the pandemic. Why? The more visibility you give them, the more likely your employees will dig in. Business Associate Agreement RE: 2022 Open Enrollment communications to employees on leave of absence. Use this opportunity to set your finances up for your best 2020. SHRM Online, September 2019, 10 Questions for Employees Choosing a Health Plan, Now is the time to review your current benefits and prepare to make changes, if needed. Requiring waivers of coverage: Waiver of coverage documents verify that employees reviewed and declined benefits options during the open enrollment period. 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. 2023 Open Enrollment Obamacare Health Plans Find 2023 health plans. Para garantizar que brindemos la informacin ms actualizada y de mayor precisin, algunos contenidos de este sitio web se mostrarn en ingls y los proporcionaremos en espaol una vez que estn disponibles. Regularly educating employees: Providing multiple information channels during open enrollment can ensure that employees are well-informed and have the resources to make decisions about their benefits. We are available 24 hours a day / 7 days a week. When open enrollment ends, we know you'll receive an influx of employee questions about their options to sign up for healthcare. Send them out as soon as you know that the applicant is not suitable for the role. If the open enrollment dates are Nov. 15 through Dec. 15, consider giving your employees a deadline of Dec. 5, suggests Starr Harry, client success manager at G&A. They must offer affordable, minimum-essential coverage to their full-time employees or potentially face the employer shared responsibility penalty. In this second sample, look for employees who should have been excluded from participation. Gain the intel you need now to successfully anticipate and navigate employment laws, stay compliant and mitigate legal risks. Despite your own best efforts to communicate important information and deadlines, you may have employees who dont successfully enroll on time. Learn how ALEX makes benefits engagement a breeze for HR teams and consultants. There are benefit fairs, promotional material, and banners on the company website. ACA open enrollment is through Dec. 15th. a global pandemic that's been hard to predict, improve or enhance open enrollment communication. We can help you tackle business challenges like these. Put together educational materials when employees get a raise, and remind them that nows a good time to up their contribution if they can. When looking into the issue, work with the employee and the health insurance broker to make sure there wasnt an administrative error. All rights reserved. Please confirm that you want to proceed with deleting bookmark. The only exception to these terms is if an employee qualifies for a special enrollment period (SEP). 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. Subject Line: Heads Up: Open Enrollment Details Coming Your Way. Log-in Now! As part of the open enrollment process, employers should help make employees aware of what happens if they missed open enrollment. 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. Open enrollment is complex enough as it is. Many employers even offer benefits education during open enrollment to help employees understand their options and make informed decisions. Missing open enrollment means limited options, but here a few situations to consider: Qualifying Life Event: An employee may be in luck if they have a qualifying event coming up. This site is protected by reCAPTCHA and Google, Minimum of 1 special character ($%/()[]{}=? Be sure to include these details in your letter. Copyright 2023 Financial Benefit Services: Employee Benefit Solutions. Please submit the email address associated with your account to reset your password. Here are a few ideas: Also consider other help emails that explain the process in greater detail. To learn more, schedule a consultation with one of our knowledgeable business advisors. Open enrollment begins [DATE] and closes [DATE]. Members may download one copy of our sample forms and templates for your personal use within your organization. Asking for employee feedback: Employees can be a great resource for offering suggestions about the best ways to structure benefits enrollment to ensure maximum participation. The Covered Connecticut program allows eligible applicants to enroll anytime. To provide managers and supervisors with the guidance they may need in times of crucial . Drive more engagement in money-saving programs throughout the year. "Thank you" In the same way 401(k)s use automated deposits to make retirement savings easy for employees, mobile apps likeAcorns,Robinhood,Stash,DigitsandTallyuse automation to help people build emergency savings funds, pay down credit card debt, and invest in smart, manageable, and automatic ways. $('.container-footer').first().hide(); Employees are befuddled by their health care coverage. Whatever the case, if you made a mistake during open enrollment, you're probably wondering if there's a way to make changes to your elections later on in the year. Now What? t is the employees responsibility to sign up for benefits during open enrollment as long as the employer provides plenty of notice. Since Greg has an emergency fund in place, it makes sense for him to fund his 401K until his employer match is reached. 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 allemployees currently on a leave of absence regardless of pay status. FBS Blog Deadlines are vital when it comes to open enrollment. *All Shipping prices displayed are for the lower 48 states only. Have questions about managing your own 401K? } 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. Remote employment has become popular in the past few years, with more employers opting for this new way of doing things. To get the ball rolling, a robust open enrollment email to employees is vital. If you have questions, dont hesitate to contact your benefits specialist[insert specialist contact information or provide a link]. Like Every Letter, You Need To Start By Addressing Your Staff. As a top 1% graduate of the 2011 UT Arlington class, Brian emphasizes excellence and ingenuity, leading FBS to the forefront of benefit education and enrollment. Open Enrollment Period: October 10, 2022 - October 31, 2022 This is the annual opportunity for you to make changes to your benefits and to add or drop eligible dependents from coverage. Some are closer to retirement than others, some have a larger savings safety net than others, and some have more pressing upcoming expenses than others. Your teams should start strategizing well before the announcement for open enrollment. If your organization doesn't offer auto-enrollment, then workers who miss the window may be left out in the cold without any coverage. Starting the conversation about open enrollment early and providing multiple information channels throughout the open enrollment period can help ensure that employees haven't missed open enrollment at work. The attachments can include: Getting essential information to employees is vital but shouldnt overwhelm the employee. But at the height of a pandemic, it's all the more troubling. The open enrollment announcement email should go out two weeks before your benefits packages are made available to employees. Even with weeks of communication in advance, employees may report that they missed open enrollment at work. } Open enrollment begins one month from now, beginning [DATE] until [DATE]. (Feel free to copy-pastewe won't tell.) It starts valuable dialog on whats being offered and how to take advantage of it. And How it Works, Include employees in the benefits planning process, Ensure dates and deadlines are clearly communicated, Point out any tax or investment advantages, Provide helpful resources that are easy to digest, Format emails to be colorful and easy to read, Ask for their participation with a call to action, Provide all the contact information theyll need, Plug one last reminder about taking advantage of open enrollment. They influence President Biden signed the Pregnant Workers Fairness Act into law on December 29, 2022 BerniePortal is the all-in-one HR software solution at a fair price, so HR can focus on providing a good place to work. Lets use a fall open enrollment as an example. To help employees meet open enrollment deadlines, consider implementing internal company deadlines that build in a safety net. 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. Subject Line: Were Two Weeks From Open Enrollment! Qualifying life events can be circumstances that change an employee's status for benefits, such as changing the number of individuals in the household who are covered under a benefits plan. Employers that are applicable large employers (ALEs) under the Affordable Care Act (ACA) may have additional concerns. Hopefully, we'll be able to restore your employment after this critical time. ", 2. You want to provide employees with essential information about the upcoming benefits period that is engaging. Capture employees attention with benefits messages that stick. Open Enrollment Email to Employees (Templates). Employee satisfaction is one of the most important avenues toward greater productivity and business growth. The most beneficial ways in which you can help the employee is by offering additional opportunities for education and by asking for feedback regarding the process so that you can work to prevent this from happening again in the future. All rights reserved. Sample 401K Communication to Employees. 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. Jellyvision acquires Picwell to simplify the employee benefits puzzle! Russ continues to support districts across the state with their risk management programs. !.,-_*|+~#). You can stay informed, educated, and up-to-date with open enrollment, benefits administration, and other important topics using BerniePortals comprehensive resources: Crafting and following a comprehensive onboarding checklist ensures a consistent, As the cost of living continues to rise around the country, many employeesespecially HR professionals play an indispensable role within an organization. Not all plans allow for mid-year changes, but you'll find that most do. Please let us know if you have questions by replying to this email! Benefit terms would run from January 1st to December 31st. But employees are also balancing their workload, home life, childcare, and the holidaysall while trying to stay safe and healthy during a global pandemic that's been hard to predict. If an employee misses open enrollment, its important that HR first respond with empathy and understanding.