Open Enrollment
An easy way for navigating open enrollment season
Employee benefits elections have never been simpler
Open Enrollment Outsourcing
What if we told you that we could manage your HR department’s open enrollment process from start to finish? It sounds too good to be true, but it is one of the many services we offer with our outsourced benefits administration. From preparation with your benefits broker to bill reconciliation, we manage the process and help you avoid the mayhem that comes with it.
Pre-Renewal Meetings
Before the process begins, your benefits account manager will meet with you to discuss upcoming plan changes. We discuss feedback with your broker and advance any requests from your employees if we have worked with you for longer than one year.
Shopping the Plan
Your broker will more than likely shop your plan to find the best updated coverages and prices. Once completed, we relay these plan details to you and, upon your approval, then explain upcoming plan changes to your employees.
Building into the HCM
Embracing a technology system that works ensures speed and efficiency during the open enrollment process. We build plan updates and QLEs into the HCM and send easy self-service prompts out to employees to make their new elections.
Carrier File Feeds
Without accurate data sent from your system to the carrier, you run the risk of profit leakage and other issues. Our team manages up-to-date file feed transfers with the carriers to avoid loss and track bill reconciliation.
Open Enrollment Success: A Strategic Checklist for HR Leaders
For Human Resources departments, open enrollment is often considered the most demanding season of the year. It is a critical period that directly impacts employee financial wellbeing, overall job satisfaction, and company retention rates. Set you and your department up for success with our open enrollment checklist.
Walk Through Elections
Many of your employees will need a hand walking through the complex plan options and understanding what is on offer. Our HEROES team members will help your employees understand their benefits elections.
Progress Tracking
Open enrollment season generally has a hard deadline. It is important that each and every one of your employees has the opportunity and time to make elections. Our team tracks who is done, who is in progress, and who needs to make elections.
Update FSA/HSA Contribution Limits
As healthcare costs continue to rise so do the contribution limits on flexible spending accounts (FSA) and health savings accounts (HSA). We update these limits to match your updated plan’s health insurance coverage tier.
Confirm & Track Bill Reconciliation
The highest risk of profit leakage in the HR department occurs during bill reconciliation. Our team verifies and confirms your total enrollments and tracks that against the carrier’s invoice, ensuring you never lose a penny.
FAQ
During open enrollment, our benefits advisors work with broker to provide feedback on the plan options and pass along employee requests. Our team builds your new plan into your HCM, manages carrier file feeds, helps your employees walk through and track elections, update FSA/HSA contribution limits, and confirms and tracks bill reconciliation to prevent profit leakage.
Accurate employee data from their enrollments needs to be cross-referenced with your carrier’s invoice to ensure you are not being charged more than what you should. Without proper bill reconciliation, the carrier may charge your company for more employees than you actually have.
Our HEROES team members will meet with your employees as needed to walk them through plan options and help them understand their elections. We do not choose their elections for them.
No. Open enrollment outsourcing is a feature of our benefits administration service. We do not sell open enrollment services individually.
Absolutely! The best part of our benefits administration service is that you are allowed to work with any broker of your choosing. We will then communicate and work with your broker to manage open enrollment season.
Connect with us to learn more about HR Outsourcing!
