Congratulations!  You survived Open Enrollment!  Open Enrollment can be a stressful time for employees, employers and insurance carriers.  Here are a few things to do in order to make sure everyone has a smooth transition into the new year and their new benefits. 
 

1. Audit your invoice(s) from your insurance carriers. 

​It is no secret that the insurance companies are busy at this time of year.  Most companies change their benefits for a January effective date, which increases the work load of insurance companies.  While the insurance companies do a great job at handling this busy season, mistakes can happen.   It is always best practice to confirm that all enrolled employees made it to the invoice and were enrolled in the correct products.      It is better to be proactive with this step to prevent a frantic phone call from an employee who is at a pharmacy or doctors office realizes they were never enrolled.

2. Confirm payroll deductions are accurate. 

New Year, new deductions!   Usually when your benefits renew, there is a new premium amount.  If your employees are responsible for a portion of their benefits, not only does the premium amount change, but their payroll deductions change as well.     It is best to confirm that the correct payroll changes made it into your employee’s paycheck.  Not only should you confirm that the amounts are correct, but also confirm that deductions are coming out correctly, pre or post tax.   If your employees have deductions coming out pre-tax, confirm that you also have a Section 125 plan in place to maintain compliance.    There is not much worse than an employee a payroll error 6 months after open enrollment.

3. Look for any outstanding documentation necessary to complete applications. 

At times the insurance carriers will request additional information or additional documentation to finalize an application.    For example, if an Evidence of Insurability might have been requested if an employee increased their life insurance amount or additional information is needed to prove financial interdependence for a domestic partner application.    Usually these additional requests are time sensitive to make sure the plans are effective on the desired effective date.

4. Update any internal documents and contact numbers.   

​Make sure that any and all documents are saved for future use when hiring a new employee.    This could include, benefit summaries, applications, employee notifications, etc.    It is also a good idea to jot down any new Account Manager’s you may have.  This will prevent digging through documents and emails in a few months.

5. Review your open enrollment procedures.

Take a few notes on what went well this year and what didn’t.   As you start preparing for the 2020 open enrollment, you will be happy you did this to not repeat any missteps.  
 
 
Open Enrollment is a busy time of year.   Following the steps above after open enrollment will catch mistakes immediately before they blow up into a larger situation.   If you need assistance with post-open enrollment or managing your benefits, please contact us.  Choice Employee Benefits helps their clients create strategy, implement and administer their benefits.  We provide the guidance to help you make the best decisions for you and your business.
​