LEGAL COMPLIANCE: PUZZLEHR’S DECLASSIFIED OPEN ENROLLMENT SURVIVAL GUIDE

Did You Know?

50% ?of employees say that a better understanding of their total rewards would increase their employer loyalty.

Open enrollment is around the corner. Employees find themselves tangled among different benefits packages, and employers must manage a variety of compliance considerations. Navigating open enrollment properly helps avoid costly penalties and enhances the overall employee experience.?

Mandatory Notices and Disclosures

With open enrollment comes a set of mandatory notices to disseminate to employees. These may include notices from the company to employees, notices from plan carriers to employees, and federal or state legislative notices. Failure to properly distribute disclosures can lead to legal challenges and employee confusion. A centralized, digital platform can help manage and track notice distribution, ensuring all employees stay informed.?

Plan Limits and Thresholds

Each year, health and other benefits plans undergo adjustments to their limits and thresholds from the IRS and other agencies. While educating employees on what exactly each plan entails, ensure you discuss limits and thresholds. 401(k)s, HSAs, HDHPs, FSAs, and more are affected. With?79% ?of Americans worried their workplace benefits will rise in cost, information regarding plan limits is essential for employees looking to make the most of their budget.?

Compliance with Key Regulations

? ADA, ACA, and ERISA:?Benefit plans must be robust with accommodations for disabled employees. Retirement and healthcare plans must remain in compliance with ERISA and ACA standards, respectively. Note that the ACA requires applicable large employers to offer employees an open enrollment period.?

? FMLA:?Employers must clearly outline the leave request process and notify employees of their rights to continued benefits coverage and how to maintain this during leave.?

? COBRA:?Though not the same as open enrollment, employees must receive timely notice of their right to continue their health care coverage.?

? HIPAA:?Open enrollment brings a high risk of data theft, as employees are providing personal identifying information and occasionally personal health information. Privacy training and cybersecurity measures ensure data remains protected.?

Addressing Compliance Issues

? Compliance Audits:?Conduct comprehensive audits to assess all facets of benefits administration, identify potential vulnerabilities, and rectify them before open enrollment.?

? Technology Solutions:?70% ?of employees say online platforms are helpful for open enrollment. Leverage software like AI-based platforms or self-service portals to automate benefits administration while providing analytics to help anticipate future needs.?

? Proactive Communication:?Clear, comprehensive information must be provided well ahead of the open enrollment period.?8 in 10 ?workers believe one-on-one conversations help them understand their benefit options. The sooner you start, the easier it will be!?

? Staying Informed:?Industry newsletters, webinars, and professional HR networks are just some of the ways to stay up-to-date with legislative and trend changes during open enrollment season.

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Let PuzzleHR guide you through open enrollment to improve your employee retention, satisfaction, and experience! Whether you need an expert to help determine which plan is right for your organization or a pro to support your communication efforts, PuzzleHR’s?Managed Benefits Solution ?solution has you covered!?Contact us today to learn more.?