Save Money By Increasing Company Health Plan Participation

As the saying goes, there's strength in numbers. Getting employees to enroll in your company health plan has never been more important. Many insurers require a large percentage of eligible employees participate in your company-sponsored health plan to lock in the best rates. This is known as the minimum participation requirement and typically sits at around 75%. To keep costs down, it’s important that employees are encouraged to sign up. To do this you have to provide simple, transparent information backed up with great incentives.

Communicate Don’t Complicate
Employees want accurate, easily understood information that allows them to make informed decisions without the hassle of wading through confusing and complicated advice. Offer a variety of communications and resources to educate employees about enrollment and health plan selection, such as:

• Online support tools
• Email blasts
• Electronic and paper newsletters
• Customer service assistance through the health insurance company
• Health fairs
• Printed information
• Bulletin board postings
• Payroll stuffers

These communications should be spread throughout the year to promote usage of the health plan, to limit overwhelming employees once a year during open enrollment, and to encourage year-round thought about health plans and health maintenance.

Dangle the Carrot
Many employers also use incentives to encourage healthy behaviors that coincide with the healthcare plan. Effective incentives are easy to understand and the rewards are attainable and desirable. Offering incentives to employees for receiving preventive care screenings, for instance, is a great way to get them to use their benefits, and will hopefully reduce insurance claims in the long run by preventing and detecting diseases.

Other incentives that employers can offer to encourage employees to enroll in their health plan include:

• Offering prizes such as gift certificates, personal electronics or paid days off
• Providing free or discounted family memberships at local health clubs
• Offering health-related items to families who enroll their children, such as car-seats
• Making a contribution to the employee’s health-related savings account (health reimbursement arrangements, health savings accounts and flexible spending accounts)

Beyond these ideas, Lumity's benefits solution can help in recruiting employees to join your health plan. Let us show you how. Contact us for a demo or more information.