Open enrollment is on the horizon which means your employees will soon be navigating their benefits options for the next year. Employee benefits are a huge part of attracting and retaining talented workers, but they’re not effective if your employees don’t fully utilize them. Both new and seasoned employees need to carefully look over their benefits offerings each time open enrollment comes around to ensure they are taking full advantage of the benefits available to them. Below are some tips on how to help your employees make the most of open enrollment.

  1. Review Health Insurance Options Every Time.

A lot of things can change in a year, and the coverage that worked last year may not be a good fit anymore. With employer-provided health care premium costs going up for both employers and employees, it’s more important than ever to ensure employees are getting the best balance between comprehensive and cost-effective coverage. Do your employees know the difference between a PPO, an HMO and an HSA? It can be extremely worthwhile to do a thorough comparison of each option, factoring in premiums, deductibles, copayments, co-insurance, out-of-pocket maximums and possible tax savings. Does your benefits enrollment system make comparison easy for employees?

  1. Don’t Skip Life Insurance.

Your company likely provides group term life insurance to employees at little to no cost to them. Taking advantage of a free or low-cost life insurance policy should be a no-brainer for any employee. Offering additional options such as supplemental or voluntary life insurance gives employees the chance to obtain higher reimbursement amounts, likely for a lower premium than they would be able to find in a private policy. Make sure employees name their beneficiaries at enrollment time to avoid any delays in the claims process, if the unexpected should occur.

  1. Understand the Value of Short Term Disability Insurance.

The odds of a short term disability are much greater than death, yet at least 51 million workers in the U.S. are without disability insurance other than the very basic coverage available through Social Security. Younger workers often feel like they’re “too healthy” to worry about disability coverage, but according to the Council for Disability Awareness, more than one in four 20-year-olds today will be out of work for at least a year due to a disabling condition before they reach the normal retirement age. In addition, 5.6% of workers in the U.S. experience a short-term disability (six months or less) due to illness, injury, or pregnancy on average every year. 

Employees can often get a more cost-effective short-term disability policy through their employer rather than purchasing a private policy, so let your employees know if you offer this incredibly valuable benefit.

  1. Check in on Retirement.

Open enrollment isn’t just about health care. It’s also a perfect time for employees to check in their retirement accounts. Do your employees know that annual 401(k) contribution limits are going up in 2020, from $19,000 to $19,500? Do your over 50 employees know the catch-up contribution amount is going from $6,000 to $6,500 in 2020? Are all employees currently taking advantage of the full employer match amount? 

  1. Don’t Miss Those Extras!

The standard benefits offerings alone aren’t enough to remain competitive with other employers. If you’re offering extra benefits to improve employee retention and attract top talent, they’re only helpful if employees actually know about them. Optional benefits may include Group Legal Services, Dependent Care FSAs, Partner Benefits and Health and Wellness Programs and Incentives.

Hiring a PEO is a smart choice for any employer, especially those who want their benefit offerings to stand out among their competitors. Benefits offered and managed by Emplicity meet all requirements for compliance, and Emplicity offers easy-to-use tools like a benefits enrollment system with a built-in comparison tool and educational enrollment meetings and webinars to ensure your employees are prepared and informed for the upcoming open enrollment period.

About Emplicity:
Since 1995, Emplicity has provided a smarter, more secure, and integrated platform of employer services to its 300 business clients and their 8,500 employees. As a Professional Employer Organization, or PEO, the California-based HR outsourcing firm simplifies the compliance, administration, and support businesses need in the areas of employee benefits, payroll, and human resources technology.

For more information about us, visit or call us at (877) 476-2339. We’d love to make your employee management more simple—and secure.

NOTICE: Emplicity provides HR advice and recommendations. Information provided by Emplicity is not intended as a substitute for employment law counsel. At no time will Emplicity have the authority or right to make decisions on behalf of its clients.

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