How to Select and Roll Out Health Insurance for Employees
Setting up employee health benefits for employees can be a little bit intimidating, especially if you’ve never done it before. There are a lot of moving parts, and ensuring it is a smooth process can take some planning. The first important decision is choosing an employee benefits provider that can support you in selecting benefits and rolling out your plan.
Choose the Right Employee Benefits
Likely, your goal in sponsoring an employee benefits plan is to support your employees. The benefits act as one element of your total compensation package, and they also help keep your employees healthy and happy so that they can be productive. It’s important to choose the right benefits so that you can meet those goals. There are several ways you can help ensure you’re offering the right benefits for your workforce.
- Survey Employees – Find out which benefits your employees would really like to have. By surveying employees, you get a clear picture of which benefits they will value, and which benefits hold less interest for them. An anonymous survey is best to get honest opinions; the more people that respond the better. Feedback directly from employees can help you shape which benefits and coverages you will offer so that employees are happy with the benefit plan.
- Review Demographics – Your employee benefits provider should have a good idea about which benefits are popular with which demographics. By studying the age and gender profiles of your workforce, they can recommend benefits that are likely to resonate with your workforce.
- Identify your budget – Choosing the right benefits means making sure that your company can continue to pay for them into the future. The right benefits are those that are sustainable, so identifying your budget is important. You don’t want to choose benefits that will stretch your financial resources and then have to scale them back at a later date.
Explain Benefits Coverage
Once you have worked with your benefits provider to create an employee benefits plan, it’s important to ensure your employees understand the benefits being offered. The plan will not be an effective compensation tool if your employees don’t understand the value of what they’re being given. Of course, the plan will also not be effective in supporting the health of your employees if your employees don’t know what resources they have available.
According to the International Foundation of Employee Benefit Plans, only 19% of organizations believe their employees have a good understanding of their employee benefit plan. This means far too many organizations are failing at explaining their benefits coverage.
Along with traditional communication materials, consider working with your benefits provider to hold info sessions during working hours to explain the plan. Provide communication materials that use plain language and define common benefits or insurance terms so that everyone is on the same page. If your organization has an intranet, use it to profile different benefits on an ongoing basis to promote a better understanding of the plan. Even after the initial rollout, it’s important to continue communicating about benefits so that employees are reminded of what they have available.
Make Enrollment Easy
Enrolling in employee benefits can be a time-consuming task both for the organization and for employees. In the past, the only option was paper enrollment. This involved a plan administrator distributing the relevant forms, employees completing them, and the plan administrator then transcribing them into their system. This process requires a lot of “babysitting” by the plan administrator to ensure employees actually complete the forms by the deadline, and that the forms are legible. If doing a traditional paper enrollment, it’s important to ensure the process is streamlined and well organized in order to prevent errors and meet deadlines.
A better alternative is online enrollment. GroupHEALTH offers online enrollment for employee benefits, and it is a game-changer. Employees receive an e-mail with a link to enrol in their employee benefits plan. They are guided through the enrollment process and prompted for information and selections throughout. This eliminates the need for the plan administrator to transcribe enrollment cards and it also prevents errors. The system keeps track of who has enrolled and who hasn’t. It sends reminder e-mails to those that haven’t enrolled, and it allows the plan administrator to easily see who hasn’t enrolled so they can follow up.
Good Advice is Key
Are you looking for help selecting the right employee benefits plan for your company? Do you want exceptional service and support to roll out your new plan to your employees? Review your options with one of our licensed advisors on the phone, or contact us for a comparison quote.