An easy way to make an ordinary renewal more appetizing
Clients hate renewals. Health plan rates will likely change year to year, and mostly in the wrong direction. Even though some changes can be for the positive, they often require some form of decision and possibly re-enrollment. This translates to more work for HR. And, these changes also demand action by employees to make decisions concerning their benefits, something they would prefer not to do.
Fortunately, EmployeeTech’s Engage decision support tool can be implemented within a few days and starts at around $1000/year for a smaller employer. Channel partner opportunities are also available for even greater savings. It’s a quick and easy way to dress up benefits and add value to the equation.
Employee benefit brokers and consultants are always looking for ways to make the renewal more palatable for their clients and their employees. from reducing the administrative burden to offering additional plan choices. These strategies can be effective but often require a lot of time and resources to execute.
One area that brokers can score some quick points is by introducing a comprehensive decision support tool. These solutions help employees determine the true cost of a plan, taking into consideration contribution, out of pocket cost, tax brackets and employer match. They can link off any HR solution or webpage and can be introduced to employees during open enrollment, new hire or status change. Click here for a 1 minute demo video