Business

Selecting an Employee Benefit Enrollment Strategy and Enrollment Company or Service

adminApril 4, 2021

Once the employer has made the decisions on the employee benefits strategy and plan design, in collaboration with the brokers, it is imperative to make the best possible decision about who will handle the enrollment processes and which enrollment company or services. use. Enrollment process decisions should include:

• How to educate employees and their families.
• How to better communicate the “options” of plans, programs and services.
• Which form of enrollment will be used: one-on-one, group meetings, paper forms, call center, Internet, or a combination of these strategies.
• How the Data will be managed once the Employees and their Families have made the “Elections”. This information may be requested by various parties in a timely manner, including: Providers of insurance plans, programs and services and non-insurers; TPA; Paysheet; etc.

The best strategies and designs for employee benefits, including:

• Fully funded plans
• Partially self-financed plans
• Self-financed plans
• Defined contribution (DC) for the above plans

it will collapse and fail without a well-planned strategy of enrollment processes.

The following is a list of “Tips” for brokers and employers as they begin to select methods and strategies for enrollment of employee benefits :.

A) Know the demographics of the group

1. Number of eligible employees?
2. Access to employee contact information?
3. Language (s) spoken by employees and their families?
4. Number and hours of work shifts?
5. Employee distribution?
6. Number of locations?
7. Ease of access for employees?
8. Level of knowledge of employees about plans, programs and services to be offered?
9. Internet and mobile access to employees?

B) Know the design of the plan, including

1. Main benefits to be offered, ie. Health plans, dental plans, vision plans, life plans, long-term disability (LTD), etc.?
2. Voluntary / workplace plans to be offered, ie. Limited health plans; Short-term disability (STD); Long-term disability (LTD); Long-term care (LTCI); Dental; Vision; Critical illness (IC); Hospital admissions (HI); Life – UL, WL, Term, Annuities; Cancer, pet; Legal; etc?
3. Plans with tax advantages to be offered, as applicable – Section 125; Medical / health, dependent care and transportation reimbursement accounts; HRA, HSA, etc.?
4. Eligibility – Full-time and part-time employees?
5. Eligibility Period: When Do “New Hire” or “Change in Status” Employees Become Eligible?
6. Duration of the registration period?
7. Required documents: do they need to be signed by employees?
8. When and how will the “Retirement Plan” options be explained and listed?

C) Type of enrollment desired?

1. One by one
2. In a group setting
3. Internet based
4. Call center based
5. Mix of the above

D) Does the enrollment team have to be affiliated with a carrier? (Many voluntary benefit providers offer “free” enrollment services if the employer offers one or more of the provider’s plans.

E) How is the registration company paid? Brokers can negotiate with plan, program and service providers / operators to share the cost of enrollment.

F) How are registrants compensated for individual enrollment? In charge of plans sold, salaried, per diem, per hour?

G) Will the enrollment company provide or participate in the employee education process?

H) How will the enrollment company monitor the enrollment process?

I) How will the employer and broker (s) be kept informed of the enrollment progress?

J) How will the enrollment company monitor “issues” reported by employees, department heads, and managers?

K) Will the Enrollment Company be responsible for distributing the Employee’s “Picks” and “Payroll Deductions” to the appropriate parties, ie. Carriers, TPA, payroll, etc.?

L) Will Enrollment Company Representatives be available when “Pay Checks” are issued after the first New Employee Deductions?

M) How will the enrollment company handle new hires, changes in eligibility, etc.?

If the employer and broker (s) work together to address the above questions, and are careful when selecting the enrollment company or service, the potential for a successful enrollment will increase dramatically.