Is Your Business Prepared for Open Enrollment?

During open enrollment season, your employees can change their health, vision and dental insurance plans. That means they have choices to make, and they may have questions about their options. If your plans begin coverage on January 1 like most do, the open enrollment period in November and early December can be hectic. Here’s how to prepare.

Once the busy business open enrollment period calms down, it’s a good time to take a look at your business insurance needs. Talk to Farm Bureau to review your coverage and make sure you’re protected against the unexpected. 

Provide the Information Your Employees Need

Employees will understandably have questions about changes in their costs and benefits. An important part of your open enrollment preparation is outlining these changes so employees have the information they need to make their decisions. 

It can help if you provide scenarios for different situations. For example, you may want to estimate health insurance premiums and out-of-pocket costs for:

• A young, healthy employee with no dependents
• A single parent of a child with medical needs
• An older couple with chronic conditions and young adult children on their plan

Of course, you can customize these scenarios so they best match your employees’ situations.

Create a Communication Plan

Employees can feel overwhelmed and turn to you with their questions if you give them everything at once and expect them to make sense of it. Build a timeline where you present the information over several weeks before open enrollment starts. Use visuals like charts and infographics to help clarify complex topics.

Build in Plenty of Time

Make sure you start planning early so your employees have the time they need to review their options and make their decisions. Choosing their health, dental and vision plans for the year can make a big impact on their finances, so it’s not a decision they will want to rush.

Encourage Your Employees to Prepare

The employee benefits of open enrollment are an important part of your compensation package, but more than half of Americans regretted the choices they made in 2024. To help your employees make the most of their benefits, remind them to:

• Look through all the materials carefully.
• Review their expenses from the past year and see how often they needed services, how much they cost and which expenses might be ongoing.
• Consider whether there’s anything coming up in the next year they should plan for, from a new baby to a child heading to college to a joint replacement.
• Make sure doctors, prescriptions and hospitals are still covered, especially if they are changing plans.
• Ask questions about anything that’s not clear to them.

Include Your Employees’ Partners 

Many employees make their decisions about benefits along with their partner, and they may need to compare options from both of their employers to find the coverage that’s right for them. It can help if you offer information sessions or webinars where partners can participate.

Learn How Farm Bureau Can Support Your Small Business

At Farm Bureau, our experienced agents know what small business owners need, from employee benefits to commercial insurance to workers' compensation. Reach out to a Farm Bureau agent near you for personalized advice on how to protect your business and your employees.