Open Enrollment Trends in 2023
Here are some general trends that have been observed in recent years that continue to influence Open Enrollments for employers in 2023.
Open Enrollment trends in 2023, it’s advisable to consult industry reports, insurance providers,
- Increased emphasis on digital enrollment: With the growing reliance on technology, more employers and insurance providers are shifting towards digital platforms for Open Enrollment. This allows for greater convenience, accessibility, and efficiency in the enrollment process. Online systems, like Ease and Employee Navigator, are great tools and may be available at no cost from your benefits broker.
- Expanded use of online decision support tools: Decision support tools, such as online calculators and plan comparison tools, have become increasingly popular during Open Enrollment. These tools help individuals assess their healthcare needs, compare plan options, and make more informed decisions. Companies like BRI offer resources to clients that can help employees use recommendations to enroll in the benefits that best suit their needs. Other options for small/mid businesses include: Perky Tech and Plansource.
- Continued rise of consumer-driven health plans: Consumer-driven health plans, such as high-deductible health plans (HDHPs) and health savings accounts (HSAs), have gained traction in recent years. These plans typically offer lower premiums but higher deductibles, giving individuals more control over their healthcare spending. HSA assets grew by 6% in 2022, and look to keep growing.
- Focus on employee wellness and well-being: Many employers are recognizing the importance of supporting employee wellness and well-being. As a result, they may offer additional benefits and resources related to mental health, stress management, fitness, and preventive care during the Open Enrollment period. Spend some time focusing on benefit plan perks and freebies, such as telemedicine, wellness, rewards and EAP access. For instance, UHC offers UHC Rewards, Rally (app), UHC SimplyEngaged (biometric testing rewards) and Motion (earn money toward HSA for activity).
- Increased emphasis on transparency and cost-sharing: There has been a push for greater transparency in healthcare costs, with more emphasis on helping individuals understand the cost-sharing components of their health plans. This includes providing clearer information on deductibles, copayments, and coinsurance to enable more informed decision-making.
- Ongoing changes to regulatory and policy landscape: Healthcare regulations and policies can significantly impact Open Enrollment. Changes in federal or state regulations, such as modifications to the Affordable Care Act (ACA) or new legislation, may influence plan options, coverage requirements, and enrollment deadlines. Individual health plans continued to grow, up 25% from 2020 to 2022 (to over 16 million), due to enhanced government subsidies which will extend through 2025 under the Inflation Reduction Act.
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