2020 open enrollment will look different
For any employer, broker, carrier, partner or employee, this year is critical. Whether you are a CEO or an entry-level employee, you are likely wondering about your benefits (or should be.) All eyes are on this year’s open enrollment decisions and the subsequent 2021/2022 claim submissions, along with the latest medical trends. And with so many new uncertainties to consider in today’s healthcare landscape, benefits plan selections have arguably never mattered more than they do now. The problem is that employees do not invest the time nor exactly understand which plans to select.
On average, Americans spend 18 minutes doing two things: 1) selecting a show on Netflix,1 and 2) selecting employer-offered benefits for the next year.2 Only 18 minutes are spent selecting something that will likely only impact an employee’s life for the next hour versus something that will impact it for the next 365 days. While benefits selections are not the most interesting of topics, employee benefits choices can have lasting impacts beyond 365 days. How do we get employees to take their selections more seriously (or spend a little more than 18 minutes on choosing them?)