The Open Enrollment Period to start a new health insurance plan for 2021 lasts between November 1, 2020, and December 15, 2020. After this date, individuals may not be able to get coverage unless they qualify for a Special Enrollment Period. Whether your company sponsors multiple plans or encourages individual enrollment through the Health Insurance Marketplace®, here are a few ways to help your team make the most of the Open Enrollment Period.

How Companies Can Help Employees During Open Enrollment

1. Host Meetings

Open Enrollment is almost over, so it’s best to start early next year so no one feels rushed. In general, bring up coverage changes at least a week before the period begins.

Rather than guiding team members through the process with one lengthy meeting, schedule smaller information sessions to discuss specific aspects of the application process, such as reviewing the tax advantages of Health Savings Accounts.

2. Define Important Terms

Create a fact sheet of important health insurance terms to guide your employees’ decisions.

For example, staff should know that a “deductible” is the amount they must pay before coverage kicks in. “Co-insurance” is another commonly misinterpreted term that describes how much a policyholder is responsible for after deductibles are met.

3. Provide Examples

During information sessions, HR team members should present examples of how varying health insurance matters may impact different people.

For instance, you might describe which group plans will be ideal for a person planning on having a baby soon. Or, you might highlight plans that may be more affordable for an individual with no chronic conditions.

4. Create a Checklist

Since there are many pieces of information to process during Open Enrollment, it’s helpful to have a checklist of items to review before enrolling.

The checklist should provide important action items, such as making sure a person’s preferred doctors will remain in-network under a certain plan and reviewing drug formularies to determine the cost of specific medications.

5. Invite Questions  

Outside of information sessions, your HR team should welcome one-on-one meetings with employees to discuss concerns about health insurance.

Also, routinely email the team to remind them of upcoming deadlines, as well as your availability to answer questions.

 

If you’re an employer looking to improve your company’s health insurance offerings, turn to Dublin Health & Benefit Group. Serving employers and individuals throughout Cheshire County, NH, this insurance broker will review a wide variety of plans to find ones that fit your budget and needs. This team also offers support to individuals comparing Marketplace options and exploring supplemental coverage. Visit the agency online for more details on these services, or call (603) 563-8820 with any questions.