We know what you’re thinking. Open enrollment is over; it’s a chapter of the past and won’t creep up again for several more months. Why talk about it today?
The truth is open enrollment doesn’t have to be so chaotic. It doesn’t have to be a headache for employers, nor does it need to be a dreaded obstacle for employees. It can, in fact, be a simple, intuitive experience for everyone involved.
But to achieve that reality, the planning has to begin now. Last year, we introduced Evive Plan Choice, our health-plan selection tool that supports people in choosing the most relevant, affordable plan for their circumstances. Not only does it save costs and help employers optimize future plan design, it leads to better benefits engagement as a whole because people end up enrolling in plans they’re more likely to use.
Let’s talk outcomes
For 2018-2019 open enrollment, nearly 63,000 people completed their plan selections using Plan Choice. Of that group, almost half switched from their current plan and chose the optimal plan suggested by Plan Choice.
It only took around 3 minutes per person to complete their plan selection, and each employee who switched to the optimal plan saved, on average, $1,355. It wasn’t just about better costs, but a more efficient annual-enrollment workflow and more confident decision-making by employees.
Certainly, this is cutting costs for employers, too. In the most recent open-enrollment period, one large employer saw savings of more than $550 per employee who used Plan Choice. The savings totaled in millions of dollars for this employer.
“Plan Choice is redefining open enrollment,” said Evive VP of Product Strategy and Development Lenny Fayard. “No longer does it need to be a dreaded process that leaves employees confused and employers anxious about their healthcare trend. It can be something that makes sense for everyone, and that gets people closer to the right benefits and right healthcare for their families.”
Learn more about Plan Choice in this brief video: