With all of the changes we’ve seen over the past six months, it’s become clear that benefits decision support has never been more needed than it is right now. If you’re still on the fence about whether or not to implement a decision support solution into your organization, here are 6 reasons that will make it a no-brainer.
1. The virtual workplace has arrived.
The days of benefits fairs, on-site enrollment meetings, and on-site vendor support are behind us, and the decisions you make about your benefits administration and communication system during this transition will have consequences for years to come. As a benefits professional, it’s your job to meet employees where they already are: their homes, phones, and computers. To accomplish this (and maintain your sanity), the best approach is to combine intelligent benefits decision support tools with active communication. Digital decision support is no longer an option. It’s a necessity.
2. Employees don’t just want guidance; they need it.
We’re all living in a time of uncertainty, and uncertainty breeds stress. Employees already found it difficult to choose benefits, and additional uncertainty around health care needs related to a global pandemic only makes it worse.
In their annual workforce benefits survey, Aflac found that over 60% of employees felt reading about their benefits to be complicated, long and stressful, and 44% said that, in an ideal world, they could have an easy, online experience that allowed them to evaluate and compare their options. With an effective benefits decision support solution, you can give your employees the education and guidance they need while also demonstrating how the decisions they make today will have a lasting impact on their lives tomorrow.
3. You need to provide benefits support at scale.
No matter what else goes on in the world, you still need to communicate benefits to your workforce to ensure employees understand and value their benefits - wherever they are. While it’s difficult adjusting from face-to-face engagements to a completely digital environment, a good benefits decision support tool will provide comprehensive benefits information, making this transition seamless and taking the weight off of your team’s shoulders by reducing the need for one-on-one guidance.
4. Supplemental benefits need time to shine.
Most of the focus during benefits enrollment periods is around medical plans; what about all the other amazing benefits your organization offers? Benefits decision support can provide guidance on all benefits such as retirement plans, accident insurance, and more. With a tool like Picwell, once your employees have completed their medical benefits selections, they will be guided through the supplemental offerings in a way that makes sense and optimizes enrollment for your organization.
5. You need to cut costs without sacrificing ROI.
Providing digital guidance and support simplifies the benefits enrollment process and increases employee benefits engagement. By ensuring employees are in the best plans for their unique situations, you will reduce health insurance costs for both your employees and your employer. In fact, Picwell users who enroll in a recommended plan typically save $1000 more per year compared to those who don’t. Some employers have saved as much as $94 per employee per year by implementing Picwell. It’s truly a win-win.
6. You need to set your organization up for future success.
It’s highly likely that many companies will continue some kind of remote work plan for years to come. Implementing an effective benefits decision support solution now will put your organization in solid standing for the future. A good benefits decision support solution will provide pre- and post-enrollment insights which will help you to refine your benefits offering, fine tune your communication strategy, and ensure you are providing every employee with the guidance they need to make the best decision while still meeting your organization’s strategic goals.
While benefits decision support has become a necessity, it's important to remember that not all benefits decision support solutions are created equal.
Picwell’s comprehensive benefits decision support solution, Picwell DX, uses artificial intelligence to predict health risk and ensures your employees get the support they need during benefits enrollment. The intuitive, easy-to-follow process takes less than 10 minutes and your employees will walk away knowing they made the right choices for the upcoming year.
Check out www.picwell.com to see how the solution works and get started today.