Please submit the email address associated with your account to reset your password. Privacy Policy You can get your own copy here. Please note that all such forms and policies should be reviewed by your legal counsel for compliance with applicable law, and should be modified to suit your organizations culture, industry, and practices. Join 22,000+ HR pros who receive monthly employee benefits insights, straight to their inbox. Here we have provided you with a template for your open enrollment email to employees. ACA open enrollment is through Dec. 15th. Missing open enrollment can be a costly mistake for employees, so employers should take adequate steps to help their employees through the enrollment process. Remind your employees about these resources regularly by highlighting a single resource every month. Demonstrating to your employees that their needs are important to you will instill high employee morale, and ensuring that you have done all that you were required to do in regards to ACA regulations will protect your business in the event that an employee misses the open enrollment deadline. Although many of these suggestions are not legal requirements, it is in your best interest to take these steps in order to protect your business and its productivity. Standalone Consulting Agreement When it comes to your open enrollment elections, the best thing you can do is take your time and be thorough to minimize the chance of making mistakes. As HR representatives address open. Be sure to check your state laws. Attached is a flier with more details but please reply here and let us know if you have questions! 1. Get the cold and allergy relief you deserve. But if youre looking to get started now, you can still significantly improve the usefulness of your 401K communications by highlighting a few different employee personas, and giving financial advice for each one. Letter Template #1. Subject Line: Were Two Weeks From Open Enrollment! In order to ensure that none of our employees in this status were missed by the cutoff date,HR Leave Administration will email an Open Enrollment reminder this week to allemployees currently on a leave of absence regardless of pay status. You want to give your employer time to reassign any of your tasks. The call-to-action lets them know the open enrollment date, where they can find information, and when enrollment packets will become available. $("span.current-site").html("SHRM MENA ");
So, for Joan, it makes sense to fund her 401K up to the company match and beyond, as much as she can afford. The dates give your human resources department time to process and review employee elections and send them to the benefits providers. ** ALL OPTION CHANGES WILL BECOME EFFECTIVE JANUARY 1, 2020** The period from DECEMBER 11, 2019 through JANUARY 10, 2020 has been designated as the Annual Open Enrollment period during which employees who desire to change their health and/or dental insurance It starts valuable dialog on whats being offered and how to take advantage of it. Howevereven when it's for their benefit(s)your priorities are not always their priorities, and some workers may put it off, thinking they'll have more time to ask questions and get clarification later. Personalized enrollment support, available virtually 24/7, Save time while supporting employees with Chat, Smart Tips, and Reminders. Reach out to our team any time to chat! Therefore, your open enrollment for the new year will take place in October. Use a format that addresses the employee by name. Now is the time to review your current benefits and prepare to make changes, if needed. To provide managers and supervisors with the guidance they may need in times of crucial . Mistakes happen -- and it happens more than it probably should when people are choosing health insurance. About Us Neither members nor non-members may reproduce such samples in any other way (e.g., to republish in a book or use for a commercial purpose) without SHRMs permission. (A version of this article appeared in Plan Sponsor magazine in February 2018.). Bookmark () Riia O'Donnell on Nov 27, 2018 Sushma Tripathi, vice president of strategic advisory services at ADP, an HR management software and services provider, offered the following starter questions HR can ask to engage employees during open enrollment. Client Testimonials Enrollment ends Jan 15th in most states. Russ holds a Life, Accident & Health insurance license and a Risk Managers license through the Texas Department of Insurance, and brings to FBS over thirty years of risk management and pool administration expertise. Pay employees your way and automate tax payments. Its recommended the announcement email should go out two weeks before benefits packages are made available to all employees. Missing open enrollment can be a costly mistake for employees, so employers should take adequate steps to help their employees through the enrollment process. Utilizing as many forms of communication as possible will enable you to reach more employees. For Dave, it would make more sense to set money aside for that before he puts money into his 401K, even if his company offers a match. If you have questions please send to [email] or attend the upcoming Q&A [Date, time location]. Keep it brief. Sample 1: Excuse letter for work absence due to family matters. Plans like, short-term coverage and critical illness allow year-round enrollment but are not regulated by the. Pointers to pass along as open enrollment gets underway. Joan has a few thousand dollars saved for emergencies and no high-interest credit card debt. If you are looking for help with your current system, or think it may be time to enhance your benefits package, contact us to talk to a consultant. Turning 26 and being dropped from a parent's coverage, Change in number of eligible family members due to birth, death, adoption, or other family status change, Change in work hours or job position that could affect insurance eligibility. Drive more engagement in money-saving programs throughout the year. Stacia has been with Financial Benefit Services since 2014 bringing with her 5 years in insurance billing and accounting and a Bachelor of Science in Business Administration from UT Dallas. For Workers and Families For Employers and Advisers If you've lost your job, had your hours reduced, or experienced other qualifying events there are options available to workers and their families to maintain health coverage, including the Consolidated Omnibus Budget Reconciliation Act, or COBRA. He currently serves as the benefit consultant for 15 of the 20 Educational Service Centers in the State of Texas. Medicaid provides health insurance to low-income individuals, while CHIP provides health insurance to children of low-income families. Copyright The Regents of the University of California, Davis campus. Put together educational materials when employees get a raise, and remind them that nows a good time to up their contribution if they can. In order to prevent these issues, it is important to understand what it means when an employee misses open enrollment and how it can affect your businessbefore it actually happens. Like Every Letter, You Need To Start By Addressing Your Staff. 360 Degrees of Financial Literacy program by the American Institute of CPAs (AICPA) is urging employees to carefully review their family's financial situation and insurance options to pick the best coverage plan for their household. For you, when employees miss this deadline, it can result in additional administrative burdens and unhappy or unproductive employees. Lets use a fall open enrollment as an example. Here are a few theme ideas to get you started: Rock Enroll - Music Theme Benny & The Benefits - Music Theme *All Shipping prices displayed are for the lower 48 states only. Its the start of Open Enrollment! During open enrollment, HR representatives often block off hours in their calendars to respond to employee questions about coverage, requirements, and deadlines. But since he has high-interest credit card debt, Greg probably shouldnt contribute any more money to his 401Kbeyondthe match until his debt is repaid. Employees who experience qualifying life-changing events (such as getting married, divorced or legally separated, having or adopting a child, or moving to a new residence or work location that affects benefits eligibility) are eligible to enroll in or make changes to their benefits elections outside of the open enrollment period. You will not be subject to this penalty if you have offered appropriate coverage to employees, regardless of whether they enrolled in coverage. Make Time for Employees Who Missed Open Enrollment. A special enrollment period is a designated time outside of the standard open enrollment period for employees to change or update their insurance plan elections that are granted when the employee experiences a qualifying life event. But at the height of a pandemic, it's all the more troubling. Specifically, his 401(k)-related gains7%-9% annually, on averagewould most likely be less than the losses he would take on his credit card, lets say, 13%-17%. The ConnectorCare program in Massachusetts (for people who are newly eligible or who haven't enrolled before). Cathy has been in the insurance industry for 28 years.
Share links to reputable personal finance blogs and podcasts. Short-term coverage is typically cheaper than traditional health plans, but only relatively healthy individuals will qualify. Please purchase a SHRM membership before saving bookmarks. It is in your best interest to create simple and comprehensive policies and procedures so that you are prepared in the event of a SEP. If a company operates based on the fiscal year, the ideal open enrollment time frame would be in October. Sorry to be the bearer of bad news but no, once you make your open enrollment elections, you don't have the option to change them later in the year unless you experience a qualifying life event. Request a consultation, so we discuss your payroll management and HR optimization needs. Unless youre a financial expert or HR professional, figuring out retirement plans is no walk in the park. By requiring employees to sign either an acknowledgement of benefits form for those who opt in to coverage, or a waiver of coverage form for those who opt out or miss the deadline to enroll in employer-based benefits packages, you will create a uniform policy. Offer health, dental, vision and more to recruit & retain employees. A sample of the email notification from HR Leave Administration is also attached. The information may not reflect the most current legal developments, may be changed without notice and is not guaranteed to be complete, correct, or up-to-date. Its equally important to understand why they missed the deadline and help them avoid the same mistake in the future. Plus, you must consider the different ways people receive information. We also keep your employer insurance premium costs in check so that your company has protection without placing undue stress on your budget. Writing a Good Job Rejection Letter. Log-in Now! RE: 2022 Open Enrollment communications to employees on leave of absence. ", 2. Earn FSA Perks Points, unlock member-only rewards, and speed up the checkout process. Weve got some exciting options this year so be prepared to make changes! Learn how Jellyvision can help you solve your clients toughest challenges. Each year host a debriefing session to understand what worked and how to improve open enrollment the following year. Regardless of the reason, this common situation can result in added financial burden on the employee, additional missed days at work due to lack of proper health coverage, and frustration for both employee and employer. Therefore, its important employers be proactive in their approach to open enrollment. Close the email out by reminding employees of the importance of benefits enrollment. Writing a good job rejection letter is not as hard as you think it is! Our benefits fair will take place [insert dates, time, locations]. . Capture employees attention with benefits messages that stick. Learn how SHRM Certification can accelerate your career growth by earning a SHRM-CP or SHRM-SCP. allsynx Platform Agreement This e-mail is the first step of a three-part process. Keep your health in check This can cause important ones like open enrollment to fall through the cracks or simply be skimmed so they can move on to the next thing. Employers that are applicable large employers (ALEs) under the Affordable Care Act (ACA) may have additional concerns. 2. (800) 583-6908 She and her team will provide the district with monthly billing services. Get a demo of the ALEX platform and learn more about how our software can help you boost benefits engagement, drive better financial decisions, and save your team time, money, and headaches. Please log into our benefits portal to make elections, update your contact information, and make any status changes. In order to ensure that none of our employees in this status were missed by the cutoff date, HR Leave Administration . 1 NOTICE TO ALL EMPLOYEES - 2020 ANNUAL OPEN ENROLLMENT PERIOD FOR OPTION CHANGES IN HEALTH AND DENTAL INSURANCE PLAN COVERAGE. You heard it here first! Please let us know if you have questions! All rights reserved. So, if you find yourself surprised by a premium increase come January, you won't be able to change coverage. You want to provide employees with essential information about the upcoming benefits period that is engaging. Have an upbeat message to let employees know this is a positive engagement. Business Associate Agreement For exactly that reason, its important to make sure you go beyond encouraging higher and higher 401(k) contributions (which only some employees can manage) and, instead meet your entire workforce where it iswith more empathetic, targeted, holistic financial guidance. [Insert link to benefits portal and instructions]. Coby joined FBS in 2007 as a Benefit Consultant and then rose to Vice President of Sales in 2013. If you have not defined any specific goals, then start by focusing on the enrollment experience as a whole, for example what did your employees like and what do they want to be different for next year. At-home diagnostic tools help you stay one step ahead. The portal can also include a count-down counter to encourage employees to enroll. 4 in 10 employees who are able to save for retirement are now saving less as they continue to face financial hardships. Legally, employers are not required to do anything for employees who have missed the open enrollment deadline. Stop the sniffles The attachments can include: Getting essential information to employees is vital but shouldnt overwhelm the employee. Another way to increase engagement is to provide helpful resources and quick tips for employees to reference. Provide information in a wide variety of ways including: Ask your employees if they like the way information is being provided, if they would prefer information be distributed in different ways, or if they have questions that have yet to be answered. The IRS and FSA administrators understand that life changes and that you may need to make adjustments to your elections to accommodate for those changes. All of these options would result in him losing money beyond the cost of the surprise expense. These employers must offer affordable, minimum-essential coverage to their full-time employees or potentially face the employer shared responsibility penalty. Did the employee miss open enrollment because of. 2023 Open Enrollment Obamacare Health Plans Find 2023 health plans. My enrollment period at my job is in July and I missed it last year without being aware. At Ignite HCM, we assist human resources administrators in streamlining processes. An acknowledgement of benefits formfor those who opt in to coverage, A waiver of coverage formfor those who opt out or miss the deadline to enroll in employer-based benefits packages, One-on-one appointments with HR representatives, Seminars, webinars, and/or self-paced e-learning modules. Use this opportunity to set your finances up for your best 2020. In this second sample, look for employees who should have been excluded from participation. He would lose more money than hed gain if still carrying that debt. Heres what this kind of targeted advice might look like in an email you send to your workforce. Most companies operate on a calendar fiscal year. If an employee missed open enrollment at work, they are generally no longer eligible to sign up for benefits unless one of a few special exceptions applies. In fact, the terms of your benefits plans may prohibit you from making exceptions for employees who do not make benefits elections within a certain time period, such as before the new plan year begins. To get the ball rolling, a robust open enrollment email to employees is vital. Asking for employee feedback: Employees can be a great resource for offering suggestions about the best ways to structure benefits enrollment to ensure maximum participation. The first step in achieving this is to provide as much information as possible in many different forms, such as flyers, posters, emails and videos. }); if($('.container-footer').length > 1){
If you're married, discuss your elections with your spouse to ensure that the whole family is on the same page for the upcoming benefit year. We are available 24 hours a day / 7 days a week. For [current year], we are maintaining [describe plan types] and have made the following changes: [describe plan changes]. Communicating potential consequences to employees will encourage them to take the open enrollment deadline more seriously. ", "Americans tend to miss the mark when they stick with what they were doing before without double-checking their assumptions," said Kelley Long, a member of the AICPA Consumer Financial Education Advocates panel. Her past insurance experience includes roles as Marketing Supervisor, Account Management, and Account Executive at one of the largest insurance carriers of some of the largest employers in the state of Texas. Subject Line: Heads Up: Open Enrollment Details Coming Your Way. The open enrollment announcement email should go out two weeks before your benefits packages are made available to employees. Make a corrective contribution to the plan for the employees that compensates for their missed deferral opportunity. Requiring waivers of coverage: Waiver of coverage documents verify that employees reviewed and declined benefits options during the open enrollment period. Every employee has his or her own preferences when it comes to receiving important information. If your HR team is already overloaded during open enrollment season, trusted HR consulting services can help lighten the load and generate ideas for the best ways to support your employees through open enrollment. Think of it as an invitation. Do I anticipate any new expenses next year that might change my current elections? To avoid such frustrations in the future, we are changing to a computer system that will prepare checks a week in advance for distribution on payday. If Dave finds himself suddenly having to pay for something unexpected (like a broken transmission or a flooded basement) and doesnt have cash saved up, his options for paying off this bill are to a) raid his existing 401K funds and pay a penalty, (b) take out a loan against his account, reducing his after-tax pay by paying back principle and interest, or (c) use a high-interest credit card. Deadlines are vital when it comes to open enrollment. Still, missing open enrollment can make a bad situation worse. As HR representatives address open enrollment meetings, speak with employees one-on-one and send out enrollment reminders, they can use these pointers to help employees make smart decisions. Not great for Dave! FBS Blog All rights reserved. document.head.append(temp_style); You may be trying to access this site from a secured browser on the server. HR processes need to be in place as a standard business practice. The information must get to vendors to ensure employees elections are accessible on day one of your companys benefits plan year. In fact, there's a good chance that the terms of your employer's benefit plan don't allow any exceptions or changes for employees who make mistakes or miss the open enrollment period altogether. Qualifying life events can be circumstances that change an employee's status for benefits, such as changing the number of individuals in the household who are covered under a benefits plan. Legally, no. Web here is the sample letter of the annual bonus letter to the employees. Open enrollment begins one month from now, beginning [DATE] until [DATE]. !.,-_*|+~#). For that time frame, announcements would go out in the middle of September. }
What makes the email essential is that you can send it to every employee through the companys email system. Sample 3: Letter of permission for missing work due to an important matter. pliance is currently $0. if(currentUrl.indexOf("/about-shrm/pages/shrm-china.aspx") > -1) {
Other qualifying life events that would make an employee eligible for SEP can include: If an employee experiences a decrease in income, they may be eligible to apply for health coverage through the government's Medicaid and Children's Health Insurance Program (CHIP). Dave lives paycheck to paycheck and doesnt yet have an emergency fund. It can be beneficial to ask your employees if they like the way information is being provided to them, if they would prefer information to be distributed in different ways, or if they have any questions that have yet to be answered. Subject Line: Tomorrow Is The Day For Open Enrollment!