Market Check Survey: 2023 Annual Enrollment Methods

Annual enrollment season is on the horizon again for many employers and employees. This time of year can cause stress and anxiety for human resources staff and the general workforce. Annual enrollment is a critical part of a company’s benefits strategy. Still, many employees remain confused by the offerings available and the enrollment process and do not spend an appropriate amount of time reviewing their options. Employees will also be challenged this year with higher inflation impacting their insurance purchasing decisions.

We conducted a poll during a webcast on October 20 to gain insight into employers’ plans for the following year. We compare these results against responses taken from the same poll in October 2020 and 2021. The results are in the charts below.

Method of Annual Enrollment for 2023

Method of Communication to Share Benefits Information

Industry Spotlight

Embracing different methods of benefits communication and enrollment will vary by employer industry. We found employers in the education industry are far and away the highest utilizers foronline/mobile as their main enrollment vehicle, with 95% doing so. Conversely, employers in theconstruction, manufacturing, and non-profit sectors are less likely to use technology, and printed methods are still a prominent enrollment method in those industries.

Online / Mobile Benefits Enrollment Utilization by Industry

While website/mobile apps are the #1 method for communicating benefits overall, we found variation when looking at the data by industry:

Key Findings

We observed a significant increase in the percentage of employers using digital tools to communicate. While that is not a surprise, especially for those dealing with a remote/hybrid workforce, there remains a high percentage of employers relying on paper materials during annual enrollment, particularly in certain industries. Printed resources can be an option but should not be the only channel. Embracing technology allows employers to reach all segments of their workforce more meaningfully.

Companies that provide robust employee education and a smooth enrollment experience are rewarded with higher employee confidence, satisfaction, and greater engagement with the benefits program. Further, employers who leverage technology solutions are rewarded with less administrative work for their HR teams, fewer errors, and easy access to enrollment metrics and data. Utilizing multiple channels will assist with additional company messaging post-enrollment.

Regardless of how you communicate your benefit options, be clear, concise, and frequent. A well-thoughtout enrollment strategy can assist an employer in achieving its employee benefit goals.

Should you have any questions regarding any of this information or about other avenues to explore, please contact your local Assurex Global adviser.