Press Release: HSA Bank Supports HR Professionals with Annual "Open Enrollment Playbook" Guide and Webinar: "Optimize Open Enrollment" Webinar to be held August 26
Milwaukee, August 19, 2021 — HSA Bank, a division of Webster Bank, N.A., today released its Open Enrollment Playbook. This yearly guide offers checklists, how-tos and helpful tips in a fun and engaging way to support employers as they navigate a hybrid open enrollment period. In addition, HSA Bank will hold a webinar on the topic on Thursday, August 26 at 1 p.m. CT to dive into more detail.
While the open enrollment experience may be virtual, in-person, or a mix of both this year, after more than a year of ongoing uncertainty from the COVID-19 pandemic, it is particularly important that employers are prepared to help get employees and their families in the best shape possible for a healthy financial future.
Key takeaways from HSA Bank’s Open Enrollment Playbook include:
Start early, stay flexible and plan for time.
Employers can initiate communications about enrollment offerings at least six months before an online or in-person benefits fair or open enrollment period. Given the increased interest in healthcare because of the pandemic, employees expect additional time to digest information and review plans and options. Plan for small group in-person events or one-on-one sessions to account for personalized questions but be prepared to pivot to exclusively online events if the situation calls for it.
Use simple language and imagery that speaks to your employees.
Employers should consider enlisting a mini-focus group of employees to review any messaging and materials to make sure they’re not using confusing jargon or complicated concepts. Employers should also “walk in their employees’ shoes” when crafting open enrollment messaging to understand the unique needs, worries and priorities of their employee base.
Include all family decision makers.
A benefit of virtual and hybrid open enrollment is that it’s easier to include an employee’s partner or spouse. To make sure your messages are getting through, employers may want to invite family decision-makers to participate in benefits fairs, meetings or open enrollment webcasts.
Use all available tools.
Videos, presentations, calculators and online flyers can all be easily shared virtually through email or an Internet site and can be used to help educate employees.
"As we continue to work through the pandemic, this year will be even more important for employees to review and update their healthcare benefits," said Chad Wilkins, president of HSA Bank. "HSA Bank offers our 'Open Enrollment Playbook' to help employers chart a course that best suits their employees' continued interest, respect the need for a combination of virtual and in-person learning, and show how to keep benefits communications strong in 2021 and in the coming years."
To learn more on how to support open enrollment in a hybrid environment and keep employees engaged, interested attendees can register for the “Optimize Open Enrollment” webinar click here.
The full Open Enrollment Playbook is available to view and download online at hsabank.com/playbook2021.
About HSA Bank:
At HSA Bank, we’re working toward a world where everyone is empowered to save for a healthy future. By providing the right tools and resources, we make it simple for our 3 million members nationwide to maximize their savings for healthcare and long-term goals. As a leader in health accounts for over two decades, we continue to innovate. Our offerings in the healthcare savings space drive down healthcare costs, increase access, and assist with decision-making for consumers, health plans, partners, and advisors. As of June 30, 2021, HSA Bank had $10.7 billion in total footings comprising $7.3 billion in deposit balances and $3.4 billion in assets under administration through linked investment accounts and is a division of Webster Bank, N.A., Member FDIC.