HSA Administrators, Clarity Benefit Solutions, Offers Ways to Help Clients Avoid Open Enrollment Pitfalls

NEW YORK, Nov. 23, 2018 /PRNewswire/ -- HSA administrators, Clarity Benefit Solutions, offers ways to help clients avoid open enrollment pitfalls.

Open enrollment can be a hectic time at a company—for both employers and employees. There is a great deal of information to disseminate and absorb, decisions to be made, and support to be offered. Brokers should seize this opportunity to help clients avoid common mistakes that are made during this time.

A common pitfall is employees automatically reenrolling in the same benefits year after year. This occurs for many reasons: employees do not want to take the time to learn about new offerings, they may be overwhelmed with the amount of benefits information available to them, or they may be nervous about the potential cost of switching plans. To decrease the chances of this occurring, encourage clients to review all offering with their employees during open enrollment every year, presenting the information in clear, concise language. They should provide real-life examples and have an expert on hand to answer questions.

Another mistake many employees make is choosing a plan with the lowest monthly premium without considering any other factors. Employees that consider premiums alone may pay more out-of-pocket costs than they may be expecting. Have clients explain exactly how premiums, co-pays, and deductibles work, and the role that Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) play in reducing healthcare costs. Clients should remind employees that the costs associated with preventive measures such as cholesterol screening, colonoscopies, and mammograms are typically 100 percent covered before deductibles are met and often require no co-pay.

Some employees miscalculate their healthcare needs, which makes it difficult to choose between a high- and low-deductible plan. Clients must help their employees by providing them with the tools they need to calculate their medical expenses. They should navigate employees to the website that displays their claims as well as how much they spend on monthly premiums. Then, employees should determine approximately how much they will spend on medical costs in the upcoming year to determine which benefits options will work best for them during the open enrollment period.

About Clarity Benefit Solutions: Clarity Benefit Solutions provides technology that makes the health insurance plan selection process fast, easy, and straightforward. For over two decades, we have provided clients with industry-leading technology, compliance, and exceptional customer service. Our offering is designed to save time and lower the costs of managing benefits while also promoting employee self-service and automated ACA compliance.

SOURCE Clarity Benefit Solutions

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