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Nonstop Wellness Blog

High-quality benefits for nonprofits.

5 strategies for addressing employees’ financial needs during open enrollment - Employee Benefit News

This article by Randy Stram for Employee Benefit News discusses the drop in the percentage of employees who say they feel in control of their finances, and how employers can help through healthcare benefits education.

Read the full original article from Employee Benefit News.

With open enrollment around the corner, now is the time for employers to address concerns about financial well-being through benefits education. "Nearly half of employees are confused about their benefits and stressed by the enrollment process, MetLife found." The five strategies suggested by Stram include:

  • Personalize benefits communications to make them relevant.
  • Leverage benefit communication firms to drive participation and engagement.
  • Make financial wellness a priority.
  • Explain lesser-known benefits.
  • Offer a broad array of benefits to drive loyalty

Learn more about how employers can keep employees engaged in the open enrollment process, and the benefits of doing so, in the Nonstop Best Practices Guide for Engaging with Your Employees About Healthcare Benefits:

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The information and materials herein are provided for general information purposes only and are not intended to constitute legal or other advice or opinions on any specific matters and are not intended to replace the advice of a qualified attorney, plan provider or other professional advisor. This information has been taken from sources believed to be reliable, but there is no guarantee as to its accuracy. In accordance with IRS Circular 230, this communication is not intended or written to be used, and cannot be used as or considered a ‘covered opinion’ or other written tax advice and should not be relied upon for any purpose other than its intended purpose