Small Business Health Insurance Broker Can Help
Some business owners treat the benefits packages they provide as a set-it-and-forget-it system. However, what might seem like the best benefits to you might not meet the needs of your current employees or the top-performers you hope to attract. This is why it’s so important to make the absolute best of the open enrollment period. Your health insurance broker in Santa Rosa can help, but it’s important to understand a few things first.
What Is Open Enrollment?
Open enrollment for health insurance coverage refers to the period that usually lasts from the start of November to mid-December. Small businesses also benefit from a special period which lasts from mid-November to mid-December. At the start of the following year, options chosen during that period become active for that calendar year. This is why re-evaluating the company’s needs and that of its employees is so important.
What Should Small Business Look For?
Many business owners agree that it’s important to use the enrollment period to re-evaluate, but knowing what to look for can seem confusing. Every business is different, but the following pointers provide a good starting point:
How Do I Get the Right Information?
The only way to get accurate information for making the right benefits decisions is to have an honest conversation with your employees. If you have HR professionals in your organization, consider delegating this role to them. Note that you might receive the most honest responses when people can submit their opinions anonymously.
For instance, you might find that some health and wellness benefits employees might be interested in include counseling for depression or substance abuse recovery. However, very few might feel comfortable sharing this in a one-on-one setting.
How Do I Enroll My Small Business?
If you haven’t yet enrolled your business, then note that there are a few key criteria it needs to meet. Your business must meet legal requirements as a business as decided by state and federal laws. It should have at least one full-time employee and you should contribute at least 50% toward the monthly premiums your employees pay.
We understand that this guide only scratches the surface of the information you might need to move forward. Contact Sackett & Associates Insurance Services for more information today.