How to find solid footing for this fall’s benefits enrollment
By Jimmy Hinton, Wes Hudnall, Chris Menard
If you’re like most employers across the country, you’re still finding your footing in the coronavirus upheaval. Among other concerns, how will you be able to hold an effective employee benefits enrollment this fall? Some (or maybe many) of your employees still may not be physically in the workplace to enroll, and even if they are, large gatherings to talk about benefits might not be advisable. Same goes for in-person, face-to-face enrollments — the method our expertise and years of customer feedback show create the best experience for customers and drive the highest benefits participation levels.
Even as your business gets back up to speed, your employees are likely still concerned and cautious about close human interaction. And if your company is struggling in the economic downturn, you may be looking at tough choices to manage employment costs.
Still, employee benefits are top of mind for many businesses.
One new study* indicates employers remain concerned about easing the financial burden on their employees and protecting their financial safety nets. Nine in 10 employers surveyed say they have no plans to eliminate or reduce employer-paid insurance benefits to hold down employment costs. And more than half of organizations say they’ll fully cover the employee-paid share of medical (52%) or life (54%) insurance premiums to avoid a lapse in coverage for their furloughed employees. Slightly fewer than half say they’re doing the same for dental (46%), long-term disability (45%), vision (44%) and short-term disability (41%) insurance premiums.
That doesn’t mean businesses like yours won’t be considering some changes to their benefits plan design, or how they communicate and enroll it. A third of employers in the same study say they foresee changes, including reducing the variety of benefits offered or shifting the share of premiums more toward employees.
On the other hand, some organizations say they’ll go the opposite direction, boosting coverage to be more comprehensive, increasing benefit options or adding telehealth coverage. And the greatest number of employers — nearly half at 46% — say they don’t plan to make changes to their benefits plans in the coming year.
The most likely change is how you communicate and enroll benefits.
The ideal solution in today’s environment may be using high-tech tools that still provide high (virtual) touch capabilities. A silver lining in the pandemic environment is the realization high-tech tools aren’t separate capabilities, but rather a package of solutions that create a more cohesive, personalized enrollment strategy for your employees.
Some of the solutions to consider include:
- Virtual meeting technology — Web-based meeting tools offer the opportunity for employees to meet with a benefits counselor to better understand their needs and gaps in coverage, benefits options available to meet those needs, and complete their enrollment.
- Co-browsing capabilities — This technology allows an employee and a benefits counselor to review information together, then for the benefits rep to hand over control to the employee to create a secure log-in and sign insurance applications.
- Call center resources — This is a convenient option for employees without good internet access or who prefer a phone call to an onscreen experience.
- Online scheduling — These tools allow employees to schedule a virtual or telephonic one-to-one meeting for the day and time most convenient for them.
- Digital communications — Your employees have unique needs and preferences, so it’s important to use a variety of benefits communication methods to reach them when, where and how they like. These can include emails, digital postcards, custom websites and mobile apps, and digital benefits booklets.
The right combination of high-tech/high-touch tools can deliver remarkably strong results for your business. Take for example a veterinary clinic group with 6,000 employees in 300 different locations. The Colonial Life benefits counselors in the account switched on a dime to a 100% virtual enrollment when the pandemic hit. This customer ended up with excellent participation, including the voluntary benefits we offered.
If your benefits provider doesn’t offer these capabilities, look for one who does. You’ll be on solid ground for the most successful benefits experience possible for your employees and your business.
* Survey of 287 U.S. companies by DYNATA on behalf of Colonial Life and Unum, April 21–24, 2020.
Jimmy Hinton
Mississippi territory sales manager, Colonial Life & Accident Insurance Company
[email protected]
Wes Hudnall
Arkansas territory sales manager, Colonial Life & Accident Insurance Company
[email protected]
Chris Menard
Tennessee territory sales manager, Colonial Life & Accident Insurance Company
[email protected]
About Colonial Life
Colonial Life & Accident Insurance Company offers critical support to America’s workers and their families when the unexpected happens. The company is a market leader in benefits education and delivery, innovative enrollment technology and customer experience. Colonial Life provides disability, life, accident, critical illness, cancer, dental and vision benefits that protect millions of customers and their families. For more information, connect with us on Facebook, Twitter and LinkedIn.