The health insurance renewal process can be a stressful time for Brokers. Between sending renewal reminders and having Employees update plan selections, the process of renewing health insurance for your Small Groups can undoubtedly be time-consuming. Below, we outlined a few ways that Brokers can streamline the renewal process for Small Groups.
Talk to Your Small Groups
Communication and education are key to ensuring a smooth health insurance renewal process. The renewals period is a good opportunity to let your Small Groups and their Employees know that open enrollment is approaching and what they need to do to prepare. Present any changes in rates or offerings within your Small Group’s existing health plan and provide insight into how it may impact their budgets for next year. Employees should also know that, with the exception of a qualifying life event, they cannot change the plan they select until the next open enrollment period for the following year.
Update Group Information
It’s important for Employees to report any status changes or qualifying life events when either renewing or choosing a new health plan. Status changes can include:
Change in permanent address
Birth or adoption
Divorce or separation
Placing a child for adoption or foster care
A child dependent turning 26
A dependent changing status
While these life events tend to be more memorable occasions, Employees may not always remember to update key details of their benefits plan at the time of renewal. With FormFire, those details can be updated throughout the year, so when renewal season rolls around, you already know exactly where your Group members stand.
Automatically Re-Enroll Your Small Groups
Even if your Group is going to renew with the same health plan, Brokers may still find the passive enrollment to be a hassle. Even despite your best efforts to communicate the importance of renewing health plans, it can still be challenging to get Groups to reselect and sign up for the same plans again.
FormFire’s Group Plan Assign tool can streamline the plan selection process by allowing Brokers to assign plans for Groups in bulk. With this tool, Brokers can assign plans to Employees who are not waiving coverage with just a few clicks, while offering a simple, efficient solution for Brokers to also make plan selections on behalf of Employees.
Ready to make health insurance renewal easier? Contact FormFire today if you have any questions or would like to request a demo.