Zenefits (opens in new tab), a Cigna + Oscar partner, curates content for managing the modern workforce, empowering businesses to put employees first. We're bringing you some of their articles about the latest news, information, trends, and community.*
If you’re an employer who’s new to open enrollment, here’s a primer for you.
All you need to know about open enrollment, including spending account enrollments and deadline information.
Open enrollment (opens in new tab) is the annual period for employees to make selections for healthcare coverage for themselves and their family members. Typically running from November 1 to December 15 every year, open enrollment gives employees 45 days to review available options and enroll in plans for medical, dental, vision, flexible spending accounts, life insurance, and more.
For employees, open enrollment is a time to look at how they have used their insurance coverages in the past and how they anticipate they will use them in the future. From there, they should be able to decide which of any available plans and policies is the right choice for the entire coming year.
For businesses, open enrollment is one of the busiest — and generally most frustrating — times of the year, particularly if they manage the process in-house.
For companies, it starts long before issuing necessary information and enrollment form paperwork to staff members in advance of the opening and closing dates. Businesses must answer questions, request and give advice, and have employees fully complete forms to assure everyone gets the coverage they want and need. Failure to meet open enrollment deadlines could result in substandard or no coverage for the entire coming year; it’s critically important open enrollment runs smoothly and efficiently.
But for employers, open enrollment begins and ends earlier and later. Before the deadline to issue open enrollment materials to workers, small and medium-sized businesses work with insurance carriers to accumulate all necessary materials — including policy information and any changes to current policies and enrollment forms — for all employees. Businesses compile employee packets that include all the information employees need to review each available policy: for medical, dental, vision, etc., and issue them to staff members before November 15.
Read the rest of the article for more reasons to consider your own return-to-work employee survey on Zenefits.com (opens in new tab).
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Ready to learn more? Visit cignaoscar.com (opens in new tab), call our team directly at 1-855-672-2784, or talk to your broker about us.
*Note: Oscar has no control over, and assumes no responsibility for, the reliability, quality, or accuracy, of this content.
Cigna + Oscar coverage is insured by Cigna Health and Life Insurance Company. CA: benefits administered by Oscar Health Administrators. Other states: benefits administered by Oscar Management Corporation. Pharmacy benefits provided by Express Scripts, Inc. Cigna + Oscar health insurance contains exclusions and limitations. For complete details on product availability and coverage, please refer to your plan documents or contact a representative.
