As a business owner or CEO, it’s important to understand the ins and outs of open enrollment and what this means for your team. Health care is one of the greatest expenses for any small to mid-size business. Health care is also one of the most important incentives you can offer your employees. With this comes a big responsibility of choosing wisely and appropriately for your team and business needs.
This is the time of year when employees can choose which benefits they want for their family and themselves. They may be looking for ways to save money on premiums. Others may need more comprehensive coverage than what you offer currently.
During this time of year, it is important to make sure that your employees are happy with the plans they’re choosing. If an employee is unhappy or unsatisfied with their benefits during Open Enrollment, they may decide to look for an employer who offers the healthcare benefits they desire.
So, when does open enrollment take place?
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Open Enrollment Period
Most often, open enrollment takes place during the fall season. This year, open enrollment will begin November 1st and wraps up mid-December. Your benefits will go into effect at the beginning of the new year.
How can you Prepare for Open Enrollment?
Excellent and empathetic communication is key to choosing health care options that benefit both your employees as well as their budget.
Clear communication begins with managers and other leaders. However, it quickly trickles down to lower levels within the organization. As a business owner or CEO, it is important to begin discussing this topic sooner rather than later.
This is something Team LUXA can help you with! We can help prepare you and your team for this year’s open enrollment by walking you through options that may be best suited for your team.
LUXA Enterprises specializes in HR services, outsource accounting, bookkeeping, and payroll services. We match up with ideal candidates for services by allowing small to midsize businesses to increase focus on their growth through outsourcing. If you want to know how we can help you, contact us today!
REQUEST ONLINE PRESENTATION
We’ll demonstrate how you can save money while improving your efficiency and accuracy when you outsource your back office services to TEAM LUXA.
Let Us Present A Plan →
Call TEAM LUXA today at (918) 928-7288 to learn more about why outsourcing is right for you!