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Employees are befuddled by their health care coverage. At many organizations, the open enrollment season for 2020 employer-sponsored benefits is under way or about to begin. Section 125 plans are used by most employers that offer health coverage, as they are the mechanism that allows . Ingenious Ways to Keep Remote Employees Engaged, What Youre Not Doing (But Should Be) to Improve Employee Satisfaction, A Guide to Workers Compensation When Working From Home, Employee benefits specialist contact info. 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. Privacy Policy Most companies operate on a calendar fiscal year. (Or in the event of very rare circumstances, such as a legitimate error in which your administrator may or may not be able to allow you to fix). (Feel free to copy-pastewe wont tell. Specifically, 29 CFR 2590.701-6, and in permitted election changes for Section 125 plans ( 26 CFR 1.125-4 ). 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. Request a consultation, so we discuss your payroll management and HR optimization needs. Members may download one copy of our sample forms and templates for your personal use within your organization. Employees digest information in different ways. 1.) But it will show that you have their best interests in mindwhich, when it comes to creating change, is half the battle. After open enrollment ends, you can only make changes to your elections if you've experienced a qualifying life event. Between having multiple options, confusing plan descriptions, debating voluntary benefits and tight open enrollment deadlines, it's pretty easy to see how things might get confused. As part of the open enrollment process, employers should help make employees aware of what happens if they missed open enrollment. Remote employment has become popular in the past few years, with more employers opting for this new way of doing things. Additional education can come in the form of personal worksite consultations, one-on-one appointments with HR representatives, seminars, webinars and self-paced e-learning modules. Since Greg has an emergency fund in place, it makes sense for him to fund his 401K until his employer match is reached. Keep in mind, though, that employees must make changes to their flexible spending accounts or health savings accounts each year. Get benefits strategy and communication tips that will make you even better at your job. Information sessions and benefits fairs are among other steps to ensure every employee can decide their health benefits. To provide managers and supervisors with the guidance they may need in times of crucial . Close the email out by reminding employees of the importance of benefits enrollment. document.head.append(temp_style); You may be trying to access this site from a secured browser on the server. 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. If feasible, send your excuse letter before you miss work. Mr. James holds many different licenses in the insurance industry including the Insurance Counselors License through the Texas Department of Insurance. If youre truly invested in helping your employees not only plan for retirement, but also create savings and dig out of debt, offer education in the moments that matter: Reiterate your 401K messaging whenever employees get a raise, bonus, or promotion. Youcouldadd the examples above into your general 401K messaging and call it a day. 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. Pick A Theme Lose the stiff, corporate lingo and put a little fun back into open enrollment. 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. He writes about HR, compliance, and benefits solutions. Send them out as soon as you know that the applicant is not suitable for the role. 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. We are available 24 hours a day / 7 days a week. Deadline to enroll for insurance to start Jan 1 is Dec 15. Its equally important to understand why they missed the deadline and help them avoid the same mistake in the future. If a company operates based on the fiscal year, the ideal open enrollment time frame would be in October. Depending on your circumstances, your opportunities to enroll after the end of the annual open enrollment period may be limited. FBS Blog The And if you have any questions or are uncertain about anything in the process, contact your HR department - they'll help you navigate the open enrollment steps and clarify anything you don't understand. To apply for benefits and verify eligibility, individuals should complete the online screener application. To avoid such frustrations in the future, we are changing to a computer system that will prepare checks a week in advance for distribution on payday. Its their opportunity to enroll or make changes to their employee benefits. Consider implementing the following strategies: Offering adequate benefits education to your employees prior to and during the open enrollment period can help alleviate much of the confusion that they may face. Subject Line: Tomorrow Is The Day For Open Enrollment! Hi team, Putting money away for your retirement is important, but how important depends on the financial . Provide information in a wide variety of ways including: Ask your employees if they like the way information is being provided, if they would prefer information be distributed in different ways, or if they have questions that have yet to be answered. Get a demo of the ALEX platform and learn more about how our software can help you boost benefits engagement, drive better financial decisions, and save your team time, money, and headaches. He currently serves as the benefit consultant for several of the FBS Benefit Co-Operatives and many standalone school districts. 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. Learn how ALEX makes benefits engagement a breeze for HR teams and consultants. After open enrollment ends, you can only make changes to your elections if you've experienced a qualifying life event. Plus, you must consider the different ways people receive information. Surveying your employees will help you clarify benefits options and the open enrollment process, demonstrate your willingness to set aside time to help answer their questions, and potentially reduce the number of employees that miss open enrollment. These waivers also protect an employee's ability to immediately enroll for benefits if they lose coverage from an outside health plan, such as a spouse's employer. Turning 26 and being dropped from a parent's coverage, Change in number of eligible family members due to birth, death, adoption, or other family status change, Change in work hours or job position that could affect insurance eligibility. 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 ]. You can buy your own insurance if you want. 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. Subject Line: Were Two Weeks From Open Enrollment! Everything You Need Is Inside! 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. As a result, your employees can latch on to the situation closest to their own, and feel more confident in their choices. We are looking forward to a successful enrollment season. Bonus tip: Dont just send all these links in a one-time email. Here are a few theme ideas to get you started: Rock Enroll - Music Theme Benny & The Benefits - Music Theme The email is simply an introduction. Benefit terms would run from January 1st to December 31st. ** ALL OPTION CHANGES WILL BECOME EFFECTIVE JANUARY 1, 2020** The period from DECEMBER 11, 2019 through JANUARY 10, 2020 has been designated as the Annual Open Enrollment period during which employees who desire to change their health and/or dental insurance Writing a good job rejection letter is not as hard as you think it is! Think of it as an invitation. Coop Consulting Agreement 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. New Jersey Secure Choice Savings Program on the Horizon for Private Employers, How to Use HR Metrics to Improve Your Bottom Line. Russ continues to support districts across the state with their risk management programs. 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. But most advisors suggest putting away 15-20% of your paycheck if you can. Keep your health in check Join 22,000+ HR pros who receive monthly employee benefits insights, straight to their inbox. Why? 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. 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. In order to ensure that your employees are able to make the most out of the open enrollment period and the benefits your company provides, you should take an active role during open enrollment. All Rights Reserved. But if not enough people participate in the program, the company may also not see the benefits. Writing a Good Job Rejection Letter. 2023 FSA Store Inc. All Rights Reserved. Don't leave your elections for the last minute as that can make you rush the process and leave you more susceptible to mistakes. The information below covers what open enrollment is and what you may do during this time. 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. Here's what to expect: But at the height of a pandemic, it's all the more troubling. 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. If youre offering new plans, however, passive enrollment isnt an option, so allow additional time and resources to communicate and follow up with employees. Hopefully, we'll be able to restore your employment after this critical time. Here's what can happen and how HR can help. Your teams should start strategizing well before the announcement for open enrollment. Coby joined FBS in 2007 as a Benefit Consultant and then rose to Vice President of Sales in 2013. Employees who experience qualifying life-changing events (such as getting married, divorced or legally separated, having or adopting a child, or moving to a new residence or work location that affects benefits eligibility) are eligible to enroll in or make changes to their benefits elections outside of the open enrollment period. else if(currentUrl.indexOf("/about-shrm/pages/shrm-mena.aspx") > -1) { Therefore, your open enrollment for the new year will take place in October. By incorporating the mission of the university and the code of conduct, we believe strong communication will enhance understanding and foster positive work environments. Many employers even offer benefits education during open enrollment to help employees understand their options and make informed decisions. All rights reserved. While employers have little ability to "bend the rules" for employees when they have missed open enrollment at work, there are some options that can help both employer and employee. As an Account Executive, she was a key team member on the TRS-ActiveCare account from its inception through the duration of the contract. Even with weeks of communication in advance, employees may report that they missed open enrollment at work. Provide contact information to let employees know how they can access Q & As, learn more about their benefits, and how to contact the human resources benefits specialist. Include a benefits portal on your company website so employees can enroll online at their convenience. G&A Partners offers small- and mid-sized companies access to top-quality benefits options by leveraging the buying power of thousands of client companies when negotiating with providers. He just cant beat a 100% return on his money. While just keeping whatever health coverage they had this year is tempting for employees, doing so may come with a substantial financial downside. Keep letters professional and to the point. And there is a tool that can make that happen. 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. Employees who experience qualifying life-changing events (such as getting married, divorced or legally separated, having or adopting a child, or moving to a new residence or work location that affects benefits eligibility) are eligible to enroll in or make changes to their benefits elections outside of the open enrollment period. Mr. James started his insurance career in 1993 with American Fidelity in Lubbock, Texas and remained with them until 2000. !.,-_*|+~#). Please review the information . 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. You can get your own copy here. Managing Organizational Communication]. document.write(new Date().getFullYear()); The official dates are [DATE] to [DATE]. 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. Thank you for visiting theFSAstore.com Learning Center. } Keep it brief. 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. "Thank you" Now What? 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.". As an employer, you may be faced with administrative burdens and unhappy or unproductive employees. The answer to your question may depend on whose open enrollment you missed and why. When open enrollment ends, we know you'll receive an influx of employee questions about their options to sign up for healthcare. Benefit terms would run from January 1st to December 31st. By requiring employees to sign either an acknowledgement of benefits form for those who opt in to coverage, or a waiver of coverage form for those who opt out or miss the deadline to enroll in employer-based benefits packages, you will create a uniform policy. 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. To get the ball rolling, a robust open enrollment email to employees is vital. Subject Line: Lets Talk Benefits! I realize that you, too, need to meet your monthly obligations in a timely manner, and such delays do not help. Log-in Now! Email is not the only way to reach employees. Communicating potential consequences to employees will encourage them to take the open enrollment deadline more seriously. If an employee misses . Drafting an open enrollment email is not a daunting task. The only exception to these terms is if an employee qualifies for a special enrollment period (SEP). 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. ", [SHRM members-only toolkit: Open enrollment begins one month from now, beginning [DATE] until [DATE]. } document.getElementById( "ak_js_3" ).setAttribute( "value", ( new Date() ).getTime() ); Give us a ring, send an email, or fill out the form below. if(currentUrl.indexOf("/about-shrm/pages/shrm-china.aspx") > -1) { If you have questions, dont hesitate to contact your benefits specialist[insert specialist contact information or provide a link]. Be sure to include these details in your letter. a global pandemic that's been hard to predict, improve or enhance open enrollment communication. Please submit the email address associated with your account to reset your password. 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. The ConnectorCare program in Massachusetts (for people who are newly eligible or who haven't enrolled before). Emails are essential for company-wide communication because every employee gets assigned a company email when hired. Pretty good! Please submit questions related to Open Enrollment for your employees on leave to Service Now > Leave Administration > Other Leave Questions. Missing open enrollment can be a costly mistake for employees, so employers should take adequate steps to help their employees through the enrollment process. Consider also whether or not your company should offer auto-enrollment to help employees avoid missing open enrollment. What Is the Pregnant Workers Fairness Act (PWFA). It often brings many questions and can be stressful on both sides of the communication flow. } Other qualifying life events that would make an employee eligible for SEP can include: If an employee experiences a decrease in income, they may be eligible to apply for health coverage through the government's Medicaid and Children's Health Insurance Program (CHIP). Web here is the sample letter of the annual bonus letter to the employees. Effective communication to employees can sometimes be a moving target. The open enrollment announcement email should go out two weeks before your benefits packages are made available to employees. Subject line: Let's get smarter about 401K savings. These include: Since there is little wiggle room with open enrollment deadlines, employers should focus on preventing employees from missing the annual deadline. Please confirm that you want to proceed with deleting bookmark. SHRM Online, September 2019, 10 Questions for Employees Choosing a Health Plan, In reviewing the following information, you are taking the first step toward securing your. Making changes to how open enrollment is presented and discussed with a strategic plan can alleviate much of the frustration. In this article, we will focus on the importance of sending an open enrollment email to employees. However, this may not be practical, especially for employees with growing families. And to make matters worse, employees are skittish about their retirement savings right now thanks to COVID. Let's use a fall open enrollment as an example. Individuals who are below the income thresholds set by the government's programs can apply for coverage any time of year. Learn more, Money Girls Quick and Dirty Tips for a Richer Life. An announcement is made via email to ensure employees are informed about open enrollment dates and benefits being offered. 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. Client Testimonials Requiring waivers of coverage: Waiver of coverage documents verify that employees reviewed and declined benefits options during the open enrollment period. Be sure to communicate the time period with employees. Please log in as a SHRM member before saving bookmarks. The UCPath communications sent to employees are attached for your reference. For an employee, missing this vital deadline can mean losing coverage, or being unable to change benefits elections, which can have a significant financial impact on the employee. money left over after basic living expenses are covered. When the economy is unstable, employers are faced with difficult decisions around staffing, pay and benefits. In order to ensure that none of our employees in this status were missed by the cutoff date, HR Leave Administration . If you experience one of these life events, you'll want to get in touch with your FSA administrator within 30 days of the event to find out if you are eligible to make changes to your plan. Posted on December 9, 2021 Common qualifying life events include: Changes in marital status . If your organization doesn't offer auto-enrollment, then workers who miss the window may be left out in the cold without any coverage. SHRM Online, October 2019, Simple Open-Enrollment Tips That Can Make a Big Difference, ", "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. You can also take an email communication and post it to the employee portal on your website. Individuals who are in transition may qualify to register for a short-term insurance plan if offered in their state. Provide instructions on how to log in. We do not sell internationally. These employers must offer affordable, minimum-essential coverage to their full-time employees or potentially face the employer shared responsibility penalty. The UCPath Center mailed an Open Enrollment notice and Open Enrollment Form to employees who were on an unpaid leave of absence as of September 30, 2021. "There are many factors, both in a benefits plan and in one's personal life, that can change every year. ), Example #2: Dave, Who Has No Emergency Fund. Announce your benefits portal and upcoming benefits fairs. It is typically the only time during the year in which employees can make changes to their benefits choices, such as adding or dropping coverage, adding or dropping dependents, or enrolling in benefits for the first time. Coby now serves as the Senior Vice President of FBS managing a team of sales, marketing, and client implementation personnel. , they can enroll at any time, all year long. Unless youre a financial expert or HR professional, figuring out retirement plans is no walk in the park. The first step in achieving this is to provide as much information as possible in many different forms, such as flyers, posters, emails and videos. Are there any changes in my life that might make another health insurance choice more valuable this year? Your employer is not legally obligated to allow you to make changes to your elections after the open enrollment period has ended. Not all plans allow for mid-year changes, but you'll find that most do. SHRM's HR Knowledge Advisors offer guidance and resources to assist members with their HR inquiries. Making your employees aware of these tools doesnt guarantee theyll use them, of course. Make a corrective contribution to the plan for the employees that compensates for their missed deferral opportunity. Were hiringsee all of our open positions. HR teams can send additional reminders to those employees and follow up with them individually so they dont miss the deadline. What Is a Dependent Care FSA and How Does It Work? Changes made at open enrollment are effective January 1, 2023. We encourage all employees and supervisors to treat others with equality and respect. Make it easy on you and your team by taking advantage of our action plan and timeline. Here are a few different scenarios you might find yourself in, and some advice for how to approach your 401K. Heres what you need to do to get and early start: [Instructions]. Earn FSA Perks Points, unlock member-only rewards, and speed up the checkout process. At this point, there is not much more that you can do for him or her unless he or she qualifies for an SEP. Jellyvision acquires Picwell to simplify the employee benefits puzzle! 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. Legally, no. Find the latest news and members-only resources that can help employers navigate in an uncertain economy. Please let us know if you have questions! He is a graduate of Texas Tech University holds many different licenses in the insurance industry including the Insurance Counselors License through the Texas Department of Insurance. The most common option for employees who missed the 30-day enrollment period is simply to wait until the next enrollment period to register for benefits. 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. To learn more, schedule a consultation with one of our knowledgeable business advisors. Help employees save for retirement and reduce taxable income. look at employees who received a W-2 and participated in the 403(b) plan. Get the cold and allergy relief you deserve. Her short-term financial situation is secure, so shes in a position to focus on her long-term goals. Employers can also gather status updates during the open enrollment period to view which employees have not completed enrollment. Have an upbeat message to let employees know this is a positive engagement. 360 Degrees of Financial Literacy program by the American Institute of CPAs (AICPA) is urging employees to carefully review their family's financial situation and insurance options to pick the best coverage plan for their household. Open Enrollment begins on Tuesday, October 15, 2019 and runs through 5 pm, Thursday, October 31, 2019You may enroll online through Employee Self. Be sure to check your state laws. For Workers and Families For Employers and Advisers If you've lost your job, had your hours reduced, or experienced other qualifying events there are options available to workers and their families to maintain health coverage, including the Consolidated Omnibus Budget Reconciliation Act, or COBRA. Here's what to tell them. 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. is a benefits enrollment strategy that employers use to simplify the process and maintain benefits participation. Some states, however, do have penalties for individuals without minimum essential coverage. Financial Services Agreement At Ignite HCM, we assist human resources administrators in streamlining processes. Offer health, dental, vision and more to recruit & retain employees. HR managers should be prepared to address the common employee question "What is a special enrollment period?" Center for Advocacy, Resources & Education (CARE), 2022 Salary Program for Non-Represented Staff, Resources for Trans and Non-Binary Employees. ACA Compliance, Medical Consulting