It’s a question every CFO struggles with each year at this time: How can we use open enrollment to help employees make the best plan choices for themselves and their families and maximize their satisfaction with the plans they select?
The enrollment experts over at Benefitfocus recently listed best practices that can do just that.
Talk to any insurance companies or benefits vendors you do business with about the following tactics to see how they can help your company this open enrollment:
1. The Amazon approach
Employees tend to go it alone when it comes to selecting their health plans. Why? Because nobody likes talking to strangers about their medical needs.
But what if you could offer employees something similar to Amazon’s product recommendations – the ones based on customer purchase history? This can be done via a confidential survey that collects participants’ health needs and risk tolerance, says Benefitfocus.
Ask if your insurer can provide this survey and compile data to generate plan recommendations.
2. Claims-based estimates
Your insurer may also be able to let employees know how many times they went to the doctor the previous year and how much they spent in out-of-pocket costs. This can help staffers estimate this year’s spending and help them answer:
- How much of a co-pay do I want?
- Do I want a higher deductible?
3. Mobile help
Staffers expect to be able to use their phones for everything – including their benefits. Offering mobile-friendly information and enrollment options is becoming a must for workers today.