How does my business prepare for open enrollment?
Open enrollment will vary based on an employee’s needs, especially if they acquired a dependent or experienced a significant change. If an individual has completed open enrollment before, it’s a good idea for them to review their previous selections. The ACA health insurance marketplace offers a checklist to walk employees through any significant life events that may qualify them for special enrollment periods and more affordable plans. Even if an employee doesn’t have a significant change, slight shifts in their coverage may occur. Communicate with your workforce frequently! The more time employees have to prepare for open enrollment, the better. Doing so could help your organization get the jump on more complicated questions. Finally, stay on top of legislative changes, especially those related to benefits. New laws can fuel questions, and grasping them as they emerge will help expedite your business’s responses. Consider using a versatile compliance tool to help navigate the evolving regulatory landscape.