12 Oct Open Enrollment Is Over: Now What?
About The Author
Kayla Shearer – Benefits Risk Advisor
As a Benefits Risk Advisor, Kayla specializes in sales and client service, generating new business opportunities while ensuring tailored solutions to each client’s unique employee benefits needs and requirements.
Open enrollment can be stressful. You have to learn about all of your employee benefits options and make the best choices for you and your family. Unfortunately, your job is not over once you finish enrollment.
This checklist can help ensure that you’ve addressed any outstanding issues and are prepared for the upcoming benefits plan year.
1. Verify your coverage and deductions
With so many decisions to make during open enrollment, it is easy to make a mistake. After you receive your first pay stub after enrollment, confirm:
- Enrollment in the benefits plans you elected
- Coverage for dependents
- Deductions for premiums
- Contributions to a health savings account (HSA) or flexible spending account (FSA), if applicable
Remember, if you elected life and/or disability coverage that requires evidence of insurability (EOI), only the guaranteed issue amount will be in effect until the carrier receives and approves EOI.
2. Check your ID cards
During or shortly after open enrollment, you should receive new ID cards or digital access instructions from your carriers. Many carriers mail ID cards directly to your home address. However, some of the larger health insurance companies now require you to register online and print your own ID card. Check with human resources or your benefits administrator to see what process your carrier follows.
Also, keep in mind that some insurance carriers issue ID cards every plan year. In this case, you may have received a new card before open enrollment. It is important to make sure it reflects any changes you made during open enrollment.
3. Get answers to your remaining questions
Now that you have made your elections, you may have questions about how the plans work. It is a good idea to register on insurance carrier sites or mobile apps. They are a great resource for locating providers, checking coverage, understanding claims, reviewing prescription benefits and accessing digital ID cards.
If you enrolled in a qualified high-deductible health plan, make sure you set up an HSA. Because the account is individually owned, you may need to set it up directly with the HSA administrator.
You will also want to keep track of any medical expenses throughout the year. This helps you better estimate future contributions to HSAs or FSAs.
4. Review employee status change procedures
Open enrollment is the primary opportunity each year to make changes to your employee benefits elections. But if you experience a qualifying life event, you may make corresponding changes to your coverage during the year. A qualifying life event could be a marriage, a divorce, the birth or adoption of a child, or a new job for your spouse.
Check with human resources or your benefits administrator to see what process you must follow if you experience a qualified event.
5. Schedule annual exams
Most healthcare plans cover preventive care at no charge to employees. This includes annual physicals, well-woman exams, well-child exams, cancer screenings and more. Dental and vision plans may also offer preventive exams at little to no cost. Make sure to take advantage of these benefits to help you stay healthy throughout the year.
If you have any questions about your employee benefits plan, talk to human resources or your benefits administrator. They can help you verify coverage, register with your insurance companies online and make changes when necessary.
Contact one of our talented Risk Advisors to review your policies.
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