Open enrollment is the one time of year where employees can actually buy peace of mind. In trying times like these, that sounds like a heck of a deal.
Employees who worked so hard to build their savings had done little to protect it; beyond medical, dental, and vision insurance, most leave themselves severely under-protected during open enrollment. When COVID-19 had hit America, people started panic-enrolling in life insurance with one company reporting a 50% increase in applications since mid-February.
These are scary times and the big “what if” situation that people thought would never happen is here. That’s part of why it’s so important for employers to have a rich benefit offering: So employees can protect their families when they need it most. Companies who have open enrollment coming up are in luck. However, it’s harder than ever for brokers to educate their clients on the importance of valuable but lesser-known voluntary benefits.
Overcoming social distance in benefit education:
Benefits education is the biggest challenge in encouraging employees to get comprehensive coverage. No mass gatherings this year means capturing an employee’s attention to teach them about their benefits offering became that much harder. That’s why it’s crucial to be able to offer digital flyers, videos, infographics, and more. There is an infographic at the bottom of this page that brokers and employers can help their clients and employees, respectively, download to help better prepare for an upcoming enrollment. Brokers and employers—feel free to download and send this to your clients and employees, respectively!
Best Benefits to help cope with the pandemic:
Nearly 50% of Americans would be able to cover an unexpected $400 bill and because of this pandemic, that number is probably higher than 50%. Educating employees on which benefits can help protect their savings in times like this is crucial. Everyone knows the value of insurance policies like medical, dental, and vision. But to better protect savings and families, it pays to offer other benefits during the pandemic:
Benefits like disability insurance, a form of “paycheck protection” that can keep funds rolling in when an employee is unable to work due to an injury or illness.
Or hospital indemnity, a benefit that pays directly based on time spent in a hospital.
And the ride to the hospital in the ambulance or helicopter? That can be covered completely with medical transport solutions.
There’s even a benefit that lets patients speak to the doctor from the comfort of their own couch! Telehealth service skips the waiting room experience with a virtual appointment over phone or video chat. They can treat minor aches, illnesses, and even prescribe medication to the local pharmacy.
If you are a broker or employer looking to add one of these benefits to your offering for employees, we can help with that!
Communication is key
Last, but not least, communication is key during open enrollment! Most employers have a method of communicating with their employees about the benefits they’re offering, changes in policies, and when their enrollment start date is. It’s mostly up to the broker and plan administrator to get educational pieces, and partnering up with us is a very easy way to get those resources! Go ahead and download the infographic below to make your next enrollment less stressful: