Spring Clean Your Employee Benefits
It’s spring! It’s a great time to spring clean your employee benefits plan. After a busy open enrollment season, taking time to review your employee benefits strategy can help you determine if and when you should make changes for the next year.
Here are three items you should review this spring:
1. Review Your Organization’s Benefit Offerings
Is your company offering relevant benefit packages? Have you considered all possible options? Benefits like pet insurance, accident/critical illness, legal plans and more may not be part of your benefit package offerings. Take some time to review your current offerings and decide if there are others that may be a suitable fit for your organization.
2. Complete a Compliance Checkup
Avoid audits by ensuring your organization is compliant with the Department of Labor and following all required regulations. Is your organization properly administering non-discrimination testing? Have you delivered all Medicare Part D notices? Avoid penalties by doing an annual compliance checkup.
3. Review Open Enrollment Communications
How did your open enrollment go for the prior year? Conduct a communications audit to determine what was a success and what didn’t go so well. Then create a plan for the new open enrollment period based on previous data. By auditing and measuring regularly you can ensure your open enrollment goals are achieved.