It’s open enrollment season for employers and their employees. And you know what that means… “Mistakes happen,” as they say. Here are the most common pitfalls we see during open enrollment…and how to avoid or address them.
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Open enrollment is around the corner and with continued inflation, current economic uncertainty and financial strain, employees and employers alike are paying extra close attention to their financial decisions. On the blog, we're sharing some ways that employers can prepare for and support their employees for a beneficial open enrollment session this year.
Preparing your employees for open enrollment
https://blog.umb.com
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Great read for both employers and employees! Benefits are just that, BENEFITS! Employers, take time to understand what you are offering and the ROI it delivers. Employees, read what is being offered and make good, solid personal and financial choices.
Open enrollment is around the corner and with continued inflation, current economic uncertainty and financial strain, employees and employers alike are paying extra close attention to their financial decisions. On the blog, we're sharing some ways that employers can prepare for and support their employees for a beneficial open enrollment session this year.
Preparing your employees for open enrollment
https://blog.umb.com
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For HSAs, FSAs, HRAs, Commuter accounts, and COBRA, you need a partner that’s stable, flexible, efficient, and driven to delight. That's UMB.
Open enrollment is around the corner and with continued inflation, current economic uncertainty and financial strain, employees and employers alike are paying extra close attention to their financial decisions. On the blog, we're sharing some ways that employers can prepare for and support their employees for a beneficial open enrollment session this year.
Preparing your employees for open enrollment
https://blog.umb.com
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Open enrollment is around the corner and with continued inflation, current economic uncertainty and financial strain, employees and employers alike are paying extra close attention to their financial decisions. On the blog, we're sharing some ways that employers can prepare for and support their employees for a beneficial open enrollment session this year.
Preparing your employees for open enrollment
https://blog.umb.com
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Helping fast-growing DFW based companies build a benefits package their employees will love.
2024 Open Enrollment: How Employers Can Prepare As we continue through the 2024 open enrollment season, employers should start planning early to ensure a smooth process. Whether you’re looking to renew your current plans or explore new options, taking the right steps now can set your team up for success. Here are a few things to consider: 1. Know Your Budget - Before diving into renewal decisions, understand what your company budget supports and how it aligns with potential rate impacts. This will guide you in deciding whether to renew or go to market. 2. Communicate Internally - Once you receive your renewal, ensure all key decision-makers are informed. Transparency is key to understanding the impact on your company and employees. This includes answering the following questions to ensure everyone is aligned—will you accept renewal rates or seek other options? Will you consider potential changes to company contributions, plan structure, or additional benefits that could impact your budget? 3. Partner with Your Benefits Team - Communicate your initial decision to your brokers office so they can adjust timelines as necessary and prepare the best strategy to support your enrollment period. In short, timely and decisive action is critical for a successful renewal. By preparing ahead and involving your benefits team early, you can ensure that open enrollment runs smoothly and effectively for your employees. Reach out if you need help getting started or have any questions about your renewal or open enrollment in general! Lone Star Benefits, Inc. is here to guide you, providing expert counsel and ongoing support throughout the process to ensure your 2024 enrollment season is a success! P.S. We have a great open enrollment checklist that you’d be happy to share and for someone to reach out if they’d like a copy of it.
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Open enrollment is around the corner and with continued inflation, current economic uncertainty and financial strain, employees and employers alike are paying extra close attention to their financial decisions. On the blog, we're sharing some ways that employers can prepare for and support their employees for a beneficial open enrollment session this year.
Preparing your employees for open enrollment
https://blog.umb.com
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Open enrollment is around the corner and with continued inflation, current economic uncertainty and financial strain, employees and employers alike are paying extra close attention to their financial decisions. On the blog, we're sharing some ways that employers can prepare for and support their employees for a beneficial open enrollment session this year.
Preparing your employees for open enrollment
https://blog.umb.com
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Are you in the middle of open enrollment right now? Three pieces of advice: 1. Make sure to take your time as you weigh your benefits options. 2. Adjust your benefits to match your current lifestyle. 3. If you don't understand your benefits, work with your benefits team!
More than half of U.S. employees regret their open enrollment decisions, study finds
benefitspro.com
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📋✅🩺 It’s Open Enrollment Season! Our team at Talent Forward is sharing useful insights for both employers and employees during this important time. From comparing plan options to maximizing HSA/FSA accounts, their five key tips help ensure everyone can make informed, strategic decisions. Check out their tips 💡and share your own open enrollment strategies! #OpenEnrollment #HR #TalentForward #CreditUnions
🚨 Open Enrollment Season is Here! Whether you're an employer guiding your team or an employee navigating your options, open enrollment can be a critical time. To help both sides make the most of it, here are 5 quick tips to ensure a smooth, informed experience: 1. Start Early and Communicate Often: Employers, don't wait until the last minute to share plan details. Employees, review these materials as soon as they're available so you have time to ask questions. Waiting until the last minute can lead to missed details or overlooked benefits. 2. Compare Plan Options Carefully: Don’t assume last year’s plan is still the best fit. Benefits can change, so take the time to compare coverages, costs, and what’s new this year. 3. Highlight Preventive Care Benefits: Employers, emphasize the value of preventive care services that may be included at no extra cost. Employees, make sure you’re aware of and using these benefits to stay healthy. 4. Maximize HSA/FSA Accounts: Both parties should understand the tax benefits of Health Savings Accounts (HSA) or Flexible Spending Accounts (FSA). Employers, consider educating your staff on these options; employees, plan your contributions wisely and talk with your tax accountant if you have additional questions. 5. Utilize Decision Support Tools: If available, both sides should leverage online tools or benefit calculators to make more informed choices about coverage and out-of-pocket costs. 📢 Employers: This is a chance to boost engagement by simplifying processes and being transparent. 📢 Employees: Remember, this is your opportunity to tailor your benefits to better suit your needs. We would love to hear from you, what steps do you take to make open enrollment successful? Share your tips below! #OpenEnrollment #EmployeeBenefits #HR #BenefitsEnrollment #WorkplaceTips
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I help businesses build innovative, long-term, cost-effective employee benefits packages for their employees.
📅 Get Ready for Open Enrollment Season! 📅 Open enrollment is right around the corner, and it’s one of the most critical times of the year for HR teams and employees alike. Proper preparation ensures a smoother process and helps employees make informed decisions about their benefits. Here are some tips to get everyone ready: For HR Professionals: 1️⃣ Review Your Offerings: Audit your current benefits package to ensure it meets employees' needs and aligns with company goals. 2️⃣ Communicate Early: Start educating employees about what’s changing and what’s staying the same. Use emails, flyers, or meetings to keep them informed. 3️⃣ Set Clear Deadlines: Share a detailed timeline so employees know when decisions are due. For Employees: ✅ Review Your Options: Take time to understand what’s included in your benefits package. Are there new options for 2024 that you should consider? ✅ Evaluate Your Needs: Reflect on what coverage or support you and your family might need in the coming year. ✅ Ask Questions: Don’t hesitate to reach out for clarification on coverage, costs, or changes. Open enrollment doesn’t have to be stressful. With a little preparation, it can be a time to empower employees and showcase the value of your benefits offerings. 👉 How are you preparing for open enrollment this year? Share your tips in the comments! #OpenEnrollment #EmployeeBenefits #HRTips #BenefitsPlanning #WorkplaceWellness
