How Should Your Business Handle Employee Benefits Open Enrollment in 2020

The time of Open Enrollment can be an important time for your employees. There are a lot of healthcare policies that can contribute to your workers’ lives. As a good business owner, you want to make sure that you handle this time well.

2020 has been a turbulent year for everyone. Both employees and employers have had to adapt to changes, and in some ways, Open Enrollment is another area of adjustment.

The Pandemic and Open Enrollment in 2020

A common challenge virtually all businesses face this year is the Covid-19 pandemic.

Lockdowns have either temporarily or permanently closed physical locations of some businesses. Operating hours changed drastically, and these augmented hours and availability also affected worker salaries.

You and your employees might have questions about how the pandemic affects Open Enrollment and the benefits your employees applied for last year. Let’s look at how your business should handle employee benefits in 2020.

How Your Business Should Handle Open Enrollment

While this is a difficult time for all businesses, you can view Open Enrollment as another opportunity to show your employees that you care about them.

Now that Open Enrollment is here, demonstrate exemplary leadership by having good communication and organization with your employees. Though difficult conversations might be ahead, take it upon yourself to be informative, empathetic, and transparent.

Your employees will deeply value the care you show in helping them handle this process.

Important Dates

If you’re like most businesses, you undergo Open Enrollment about two to four weeks before all the paperwork is due. These weeks give your employees time to think about what plans they want and if they’re going to make any changes to their current plan.

To help your employees, you can begin by informing or reminding them of the critical dates to enroll for their desired healthcare insurance and benefits.

Open enrollment officially began on November 1st, 2020. Your employees can now enroll, re-enroll or change a 2021 insurance plan if they wish.

The deadline for selecting these policies and the necessary paperwork for them is December 15th, 2020.

The coverage of the plans you and your employees selected officially starts on January 1st, 2021, so long as the business paid the premiums.

Know Your Policies

Healthcare can be a complicated and sensitive matter. Given all that has happened in 2020, your employees might feel anxiety about this topic.

You can help your employees and your business overall handles open enrollment by understanding your business’s healthcare options.

Every business has unique options for their employees when it comes to healthcare. Your employees might ask outside people for advice about plans, not knowing that their healthcare options are different.

You can help with the process if you are familiar with what your business has available so you can answer any questions or make suggestions.

Group Your Employees By Age

The Affordable Healthcare Act created new healthcare policies for specific age groups.

Before you begin communicating with your team, you can help yourself by organizing your employees into different age groups as policies change based on age factors.

For example, you might consider who on your team is about to turn 26 as this is the age employees must begin healthcare coverage on their own. Or you might also consider who on your team is approaching retirement age.

By subdividing your team, you’ll help yourself understand which policies might benefit them more so you can make suggestions or explain different options.

 This process will be different based on your business’s size and the kind of business you are. This strategy can help you handle Open Enrollment, especially if you have a larger team with various age groups.

 Educate Your Employees

If your employees can meet in a physical location, you can organize a meeting to discuss the healthcare plans that are available to them.  If you cannot, you can arrange a zoom meeting or send an email about what your employees should expect.

While not directly involved with sales or business growth, Open Enrollment and its benefits is one way your business protects its employees.

The benefits your workers get are significant to them and their families too. They will appreciate your transparency and your effort put into helping to educate them.

Follow Up With Past and Present Employees

Even if you cannot meet with employees in-person or if your business is not currently operating due to the pandemic, you are likely still responsible for fulfilling the healthcare obligations to your employees.

Help your employees or remind them about the opportunity for Open Enrollment by sending them an email or some other form of contact to remind them of the critical deadlines and regulations for your business.

There’s a lot on your employees’ minds nowadays--they may have forgotten entirely about Open Enrollment if you haven’t directly talked to them about it.

 Also, keep in mind your past employees.

It’s important to note that if your business is not currently operating and you have retired employees who depend on you for healthcare coverage or retirement money--you are not legally obligated to keep paying them.

 If you cannot keep up these past employees’ payments, take it upon yourself to inform them about the situation. While it can be uncomfortable to talk about, your transparency and honesty will demonstrate your quality as a leader.

Be a Helping Hand

As the leader of your business, or even if you are part of human resources, your employees are likely to have questions about what they have available to them regarding healthcare options.

 You will help your business handle Open Enrollment if you communicate openly and are willing to clarify anything your employees might have questions about. As the leader or the HR representative, you may be the only one who thoroughly understands the policies. You can be a big help by being open and honest with your team.

Final Thoughts

The pandemic has changed many things about our daily lives. It may even change some things about Open Enrollment for employees--but it presents an opportunity to show your workers your quality. Protect your workers by educating yourself about your business’s status and what your business can offer to the people who work for you.