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Associated Benefits and Risk Consulting - Strategic Planning

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Preparing for open enrollment: 6 best practices for compliance, cost savings, and implementation

Open enrollment for employee benefits is around the corner, which involves many moving pieces at the HR level, including plan decisions, benefit implementation, notice requirements and other communications. It’s important that employers understand their compliance requirements as well as have a process in place to ensure these requirements are met. Here are six tips for improving compliance, cost savings, and implementation.

Is your employee benefits strategy aligned with your organization’s long-term goals?

Each organization is unique, so your benefits strategies should reflect your particular goals. Taking a cookie-cutter approach or investing in every trend that comes along can be problematic. While new and exciting ideas can be tempting, it would be counterproductive and impractical to implement employee benefit strategies that don’t align with your workforce or goals. Instead, let’s take a step back and consider the process of strategic planning, in addition to the strategies themselves.

Updated: How employers can prevent and prepare for coronavirus

We have updated the "Insurance and employee benefit considerations" section of this article, and we will continue to make updates as they become available. While the headlines about COVID-19 may be alarming, employers can be proactive by taking a calm and practical approach to mitigate and respond to the unique risks the pandemic continues to pose to their organizations. The Centers for Disease Control and Prevention (CDC) has issued interim guidance to help employers respond to COVID-19. Employers should be prepared to prevent infection from entering and spreading in their organizations as well as to answer employee questions about the organization’s readiness plan and how their health plan coverage and other employee benefits will address their needs during this pandemic.