allsynx Platform Agreement This e-mail is the first step of a three-part process. 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. Unless youre a financial expert or HR professional, figuring out retirement plans is no walk in the park. Emails are essential for company-wide communication because every employee gets assigned a company email when hired. Capture employees attention with benefits messages that stick. Only about one-third of employees (34 percent) have a . I realize that you, too, need to meet your monthly obligations in a timely manner, and such delays do not help. * 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. You heard it here first! 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. Here are a few tips to make OE emails engaging and drive participation. Pay employees your way and automate tax payments. SHRM Online, October 2019, Simple Open-Enrollment Tips That Can Make a Big Difference, Please log into our benefits portal to make elections, update your contact information, and make any status changes. var currentUrl = window.location.href.toLowerCase(); What Is a Dependent Care FSA and How Does It Work? The open enrollment announcement email should go out two weeks before your benefits packages are made available to employees. Changes in dependent status - children can age out of dependent status or become eligible for dependent status during the year. $(document).ready(function () { Here are a few different scenarios you might find yourself in, and some advice for how to approach your 401K. Reach out to our team any time to chat! Cathy has been in the insurance industry for 28 years. SAMPLE EVERGREEN OPEN ENROLLMENT NOTICE . $("span.current-site").html("SHRM China "); Center for Advocacy, Resources & Education (CARE), 2022 Salary Program for Non-Represented Staff, Resources for Trans and Non-Binary Employees. Employees digest information in different ways. These are just a few quick tips. Each year host a debriefing session to understand what worked and how to improve open enrollment the following year. 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. 4 in 10 employees who are able to save for retirement are now saving less as they continue to face financial hardships. Letter Template #1. Open enrollment is complex enough as it is. So, for Joan, it makes sense to fund her 401K up to the company match and beyond, as much as she can afford. Hi team, Putting money away for your retirement is important, but how important depends on the financial . Access exclusive research and insights on the future of employee benefits. Open Enrollment Email to Employees (Templates). If your HR team is already overloaded during open enrollment season, trusted HR consulting services can help lighten the load and generate ideas for the best ways to support your employees through open enrollment. Bretton is an aPHR-certified member of the Marketing Team at Bernard Health. Here's what to tell them. Neither members nor non-members may reproduce such samples in any other way (e.g., to republish in a book or use for a commercial purpose) without SHRMs permission. 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. coverage qualify for a special enrollment period to enroll in a Marketplace plan outside of the annual open enrollment period and may select a plan within 60 days of losing job-based coverage (either 60 days before or 60 days after). Include with your email any attachments related to open enrollment. How to Draft a Open Enrollment Email to Employees (With Template). 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. He currently serves as the benefit consultant for several of the FBS Benefit Co-Operatives and many standalone school districts. For [current year], we are maintaining [describe plan types] and have made the following changes: [describe plan changes]. Privacy Policy Keep in mind, though, that employees must make changes to their flexible spending accounts or health savings accounts each year. Attached is a flier with more details but please reply here and let us know if you have questions! He would lose more money than hed gain if still carrying that debt. 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. 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. Pick A Theme Lose the stiff, corporate lingo and put a little fun back into open enrollment. 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. is a benefits enrollment strategy that employers use to simplify the process and maintain benefits participation. To learn more, schedule a consultation with one of our knowledgeable business advisors. Build specialized knowledge and expand your influence by earning a SHRM Specialty Credential. Please let us know if you have questions! Use a format that addresses the employee by name. Client Testimonials 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. Open enrollment begins [DATE] and closes [DATE]. 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. Pointers to pass along as open enrollment gets underway. Here are a few theme ideas to get you started: Rock Enroll - Music Theme Benny & The Benefits - Music Theme Copyright The Regents of the University of California, Davis campus. Include a benefits portal on your company website so employees can enroll online at their convenience. (A version of this article appeared in Plan Sponsor magazine in February 2018.). Think of it as an invitation. The Why? 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). Do I anticipate any new expenses next year that might change my current elections? For employer-sponsored health coverage, special enrollment period rules are in the Code of Federal Regulations. 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. While just keeping whatever health coverage they had this year is tempting for employees, doing so may come with a substantial financial downside. Its the start of Open Enrollment! To qualify, individuals must have experienced a loss in permanent coverage due to a job change, layoff, becoming a college student, or missing open enrollment. This site is protected by reCAPTCHA and Google, Minimum of 1 special character ($%/()[]{}=? Individuals who are below the income thresholds set by the government's programs can apply for coverage any time of year. Your employer is not legally obligated to allow you to make changes to your elections after the open enrollment period has ended. The dates give your human resources department time to process and review employee elections and send them to the benefits providers. By 'setting and forgetting' a benefit plan, you not only run the risk of getting stuck in one that isn't right for you, but also one that costs you extra. We can help you tackle business challenges like these. Open enrollment is a predetermined time frame employers establish for making changes to health care plans and benefits. When open enrollment ends, we know you'll receive an influx of employee questions about their options to sign up for healthcare. It often brings many questions and can be stressful on both sides of the communication flow. Comprehensive coverage for your business, property, and employees. COBRA Service Agreement, Benefits Consulting In order to ensure that none of our employees in this status were missed by the cutoff date, HR Leave Administration . So, open enrollment can easily pass some by. Sample 401K Communication to Employees. This years enrollment period runs from [enrollment period dates]. Never miss out get the latest content delivered straight to your inbox. Changes made at open enrollment are effective January 1, 2023. Example #3: Greg, Whos Got a Safety Net, But Whos Saddled With Lots of High-Interest Debt. Benefit Cooperatives Find the latest news and members-only resources that can help employers navigate in an uncertain economy. But at the height of a pandemic, it's all the more troubling. We do not sell internationally. } If a company operates based on the fiscal year, the ideal open enrollment time frame would be in October. They must offer affordable, minimum-essential coverage to their full-time employees or potentially face the employer shared responsibility penalty. 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. COBRA - If you lose your job and elect to continue receiving benefits from your employer. The attachments can include: Getting essential information to employees is vital but shouldnt overwhelm the employee. Picking an annual theme will keep your communications fresh and help unify all of your messages under one umbrella. You want to give your employer time to reassign any of your tasks. My enrollment period at my job is in July and I missed it last year without being aware. HR teams can send additional reminders to those employees and follow up with them individually so they dont miss the deadline. Have an upbeat message to let employees know this is a positive engagement. 2175 N. Glenville Drive There are benefit fairs, promotional material, and banners on the company website. look at employees who received a W-2 and participated in the 403(b) plan. Requiring waivers of coverage: Waiver of coverage documents verify that employees reviewed and declined benefits options during the open enrollment period. This will give you the ability to answer any lingering questions from employees and build in extra time for those who are apt to miss deadlines, without placing any extra burdens on your HR team.. Request a consultation, so we discuss your payroll management and HR optimization needs. Please log in as a SHRM member before saving bookmarks. 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;}'; As a result, your employees can latch on to the situation closest to their own, and feel more confident in their choices. Learn how SHRM Certification can accelerate your career growth by earning a SHRM-CP or SHRM-SCP. About Us 1. 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. For you, when employees miss this deadline, it can result in additional administrative burdens and unhappy or unproductive employees. Here are a few tips to make OE emails engaging and drive participation. Writing a good job rejection letter is not as hard as you think it is! To help employees meet open enrollment deadlines, consider implementing internal company deadlines that build in a safety net. Your teams should start strategizing well before the announcement for open enrollment. Plus, you must consider the different ways people receive information. By incorporating the mission of the university and the code of conduct, we believe strong communication will enhance understanding and foster positive work environments. If you are concerned about complying with ACA in any regard, please contact us to discuss one of our many options to help. Sample 2: Excuse email for work absence due to sickness. In order to prevent these issues, it is important to understand what it means when an employee misses open enrollment and how it can affect your businessbefore it actually happens. Partnering with a respected third-party administrator is a great way to help educate your employees on their benefits and help make sure they get the most out of the open enrollment experience. Please note that all such forms and policies should be reviewed by your legal counsel for compliance with applicable law, and should be modified to suit your organizations culture, industry, and practices. Sorry to be the bearer of bad news but no, once you make your open enrollment elections, you don't have the option to change them later in the year unless you experience a qualifying life event. Bonus tip: Dont just send all these links in a one-time email. Another way to increase engagement is to provide helpful resources and quick tips for employees to reference. Web spread the word about your company's open enrollment with these 30 short reminders. 4 out of 5 can find a marketplace plan for $10 or less a month with cost assistance! Coby now serves as the Senior Vice President of FBS managing a team of sales, marketing, and client implementation personnel. Use this opportunity to set your finances up for your best 2020. After open enrollment ends, you can only make changes to your elections if you've experienced a qualifying life event. If an employee misses open enrollment, its important that HR first respond with empathy and understanding. Make Time for Employees Who Missed Open Enrollment. Copyright 2023 The Regents of the University of California. Learn how Jellyvision can help you solve your clients toughest challenges. 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. Here's what can happen and how HR can help. 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. Be sure to communicate the time period with employees. Members may download one copy of our sample forms and templates for your personal use within your organization. If your organization doesn't offer auto-enrollment, then workers who miss the window may be left out in the cold without any coverage. Flex-Ed: Mistakes During Open Enrollment Can You Change Elections? What's New 2023 Open Enrollment Announcement Health, Dental and Vision Plan Costs PPO Saver - High Deductible Health Plan Information Open . Individuals who are in transition may qualify to register for a short-term insurance plan if offered in their state. As part of the open enrollment process, employers should help make employees aware of what happens if they missed open enrollment. Are there any changes in my life that might make another health insurance choice more valuable this year? If your benefits packages havent changed from the previous year, consider offering a passive enrollment, which automatically enrolls employees who dont wish to make any changes to their selections. Following this time frame, your open enrollment email to employees would go out in mid-September. The portal can also include a count-down counter to encourage employees to enroll. Therefore, its important employers be proactive in their approach to open enrollment. At this point, there is not much more that you can do for him or her unless he or she qualifies for an SEP. HR is still the caretaker of company culture, even when administering benefits.
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