Full-Service HR

Preparing for Open Enrollment

Ella Baker
Preparing for Open Enrollment
Reading time 3 Mins
Published on Oct 4
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Open enrollment is a period each year when employees can sign up for their company-sponsored health plan. With new laws, use of electronic filing options, and other regulations, open enrollment can be a confusing time for many employers and their employees. Proper planning for and taking advantage of the educational opportunities of the open enrollment period can help you, as the employer, save money for your plan and your employees. Working with a PEO partner can allow you to more easily navigate the complicated world of open enrollment, while also ensuring that you and your employees have access to quality, affordable insurance benefits that best fit your company’s needs.

Planning time

To be fully prepared and ensure that you are ready for open enrollment, work with your network partner begin planning four to five months before the start of your next period. Work with your PEO partner to examine your current plan and its performance. Based on this evaluation, you and your PEO can consider potential changes to make your next plan more effective for you and your employees.

This is also a good time to decide on the actual enrollment process. Open enrollment can be a good time to collect updated information by requiring all employees to go through the enrollment process even if they aren’t making changes to their coverage. Other employers opt to only have employees making changes to re-enroll, while automatically enrolling those who aren’t making changes. Both options carry their own benefits and your PEO partner can help you decide which is best for your company.

Educate employees

Make the most out of your benefits plan by taking time during open enrollment to educate your employees about their options, changes to the plan from the previous year, and how to best utilize their benefits. Your PEO partner can provide you with educational materials that will help your employees evaluate the components of the plan options, including deductibles, out-of-pocket maximums, and premiums, allowing them to select the right plan for their needs.

Supply your employees with benefit forms and educational materials at least two to three weeks prior to the start of open enrollment. Offer educational opportunities by inviting your plan administrator in to talk to employees during a group meeting or during the lunch period so that employees have someone familiar with the plan to ask questions to directly. Being proactive in benefits education will allow your employees to make the right benefits selections.

Open enrollment and Sheakley

Together with your PEO partner, you should evaluate your claim history and spending trends to determine if benefit changes are necessary. Since benefits are key to hiring and retention, now is also a good time to look at what similar companies are doing to determine how competitive your benefits are. With more than 50 years serving clients, Sheakley PEO and HR Outsourcing experts are your trusted resource for ensuring that your health plan offering and open enrollment process meet all industry standards and regulations.

Schedule your free consultation with a Sheakley HR Outsourcing or PEO professional today. Stay up-to-date on all things Sheakley by subscribing to our blog and following us on social media. Join in the discussion by commenting below.


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