Employee benefits and the power of personalization in the enrollment process
“So, how did it go this enrollment season?” That’s what company executives, human resources, and benefits management ask this time of year – when planning for open enrollment commences and employee feedback starts to swirl.
Benefits and health insurance open enrollment periods are often described as a confusing and overwhelming employee experience. At the highest level, employees typically want two things regarding their benefit elections:
- An easy open enrollment process
- An easy-to-use benefits enrollment tool
As an employer, you want to provide employees with the best possible support so they can thrive, personally and professionally. But maintaining employee health and business health can be a delicate balance. Which is why providing strong benefit options, backed by a strong benefits program, is critical for an organization’s productivity and population health goals.
Easy open enrollment process
Selecting healthcare benefits can be a daunting task and an added stressor for employees. One way to provide support is by offering personalized assistance to healthcare consumers as they navigate benefits offerings. This can include one-on-one meetings with a benefits administration counselor, online resources to help answer questions, or even a dedicated benefits enrollment portal that provides personalized guidance based on individual needs. In addition to improving the open enrollment process, personalization can also have a significant impact on employee satisfaction, engagement, and retention.
47% of consumers expect their health insurer to suggest which health plan they should choose based on their personal situation. They crave real-time support and a smooth and seamless experience.1 The pandemic accelerated the push for personalization as organizations had to find new convenient channels to serve their consumers. And as the years went on, consumer habits began to shift as they became accustomed to real-time, personalized digital options.
“Our clients enjoy our personalized approach to open enrollment. Having an individual's health history provides a unique experience and the positive feedback we receive is amazing. It's many times the first interaction a new hire has with their employer and sets the stage for a great first impression."
– Christine Turner, VP of Account Management, Merative
Easy-to-use benefits enrollment tool
Another benefit of personalized support is that it helps employees better understand their benefit options and make more informed decisions. This can include information on deadlines, changes to health benefits, support during life events, and additional information for FAQs. Offering employee benefits is an important aspect of any employer’s responsibilities. By providing support and personalization during open enrollment, employers can ensure that their employees are able to make the best decisions for themselves and their families.
These self-service decision support tools deliver a personalized experience for employees based on their own historical claims data to help them quickly identify their best-fit benefit plan. But clear and frequent communication remains critically important. Even with these tools in place, employers should continue to communicate deadlines, changes to benefits, and resources available to employees during open enrollment.
Personalized for them, personalized for you
Health benefits and insurance plans are surrounded by complexities, both for the employee and the employer. For the employee, open enrollment often brings added stress and confusion as they try to make the best decision for themselves and their family. For the employer, open enrollment often floods the benefits team with questions and criticisms as they try to quickly help employees navigate.
We understand the stress that this puts on the employee and your team and are committed to helping you deliver a personalized employee experience. Benefits Mentor, our benefits decision support tool, helps employees quickly identify their best-fit benefit plan based on their household's real-world healthcare history. Benefits Mentor aggregates their household claims history to provide the employee with context to think about their future healthcare needs. A tool like this brings immense value to the employee as it guides them to make informed decisions based on their specific healthcare needs. But a tool is only valuable if it’s being utilized. Benefits teams can also leverage the solution to create reports on the effectiveness and usage, providing critical insight to support employee engagement and improve carrier value.