As an employer, the healthcare coverage you choose to provide your employees has a significant impact on their lives. Many aren’t just hoping for ample coverage for themselves but also looking to provide insurance for their loved ones. Barring a Qualifying Life Event such as marriage, divorce, or the birth or death of a child, employees will have to stick with the options they select until the next open enrollment period for the following plan year. Such an important decision can feel overwhelming, but a little forethought and preparation can go a long way in helping you prepare for enrollment.

As an employer, you’ll have the opportunity to decide whether the benefits you’ll offer your employers should be upgraded. Several months ahead of your deadline is a good time to look at necessary documentation, such as existing plan details, employee demographics, and financial records.

Your renewal period marks an excellent opportunity to let your employees know that open enrollment is approaching. Use internal communications to send two or three notes reminding your employees of what’s to come and give them an overview of what to expect regarding the process.

When open enrollment begins, you need to be well-versed in any plan details and changes in coverage. Having you as a guide will be imperative to their decision-making.

Employees should also prepare for open enrollment to ensure they make the best choices in coverage for themselves or their families. Employees should review their current healthcare coverage policy and note any changes in income. Additionally, the primary account holders’ and families’ healthcare needs should be assessed before beginning enrollment. Employees should be strongly encouraged to fill out their prescriptions, see their provider, and have any further consultations they need BEFORE their plan renews. This ensures that the employees have everything they need going into the new plan year in case of delays with the new plan.

Buying insurance doesn’t have to be overwhelming. If you’re trying to navigate ways to provide healthcare coverage for your employees or need help making a purchase, the Grigg Group can help. Our experienced team of brokers can shop dozens of markets on your behalf, ensuring you have the best combination of coverage at the lowest cost. Let us guide you to compliance by calling (704) 333-3255 or sending us a message through our contact page..