Health care costs are rising. How can you reallocate costs while still attracting and retaining top talent with a strong benefits package? Some employers are shifting traditional employer-paid benefits — including long-term disability (LTD) insurance — to employees as voluntary coverage.
But this shift requires one component to remain successful: employee education to help drive enrollment. The good news? You don’t have to reinvent the wheel to do it.
May is Disability Insurance Awareness Month, a time to elevate the disability income conversation with your employees. Read on to learn how to help educate your employees about the need for coverage — and stay tuned for additional posts this month that will highlight strategies to help curb the incidence of disability in your workforce.
Work with your carrier to develop an engaging educational campaign
A benefits offering is only as strong as its enrollment strategy. Together with your disability insurance carrier or insurance broker, develop a strong, multimedia educational campaign to engage all employees and help teach them about their benefits package.
Some employees may appreciate periodic email reminders and in-person educational sessions that give an overview of LTD insurance offerings, along with a call to action for paper or online enrollment.
For employees who want instant access to information, online education modules can inform them of the need for coverage and encourage enrollment. Consider sharing tools from the Council for Disability Awareness that highlight the financial impact of a disabling illness or injury, including:
Online enrollment benefits you — and your employees
Follow up your awareness campaign with easy-to-use online modules to complete online enrollment. These modules can serve as a one-stop resource to help employees overcome enrollment barriers and streamline the process.
Modules can be customized to include specific employer features and benefits; can educate employees on how their policies work and how to select appropriate coverage; privately and securely update medical information and beneficiary designations; and make life updates including marriages, divorces and children. Online enrollment also lessens paperwork for busy human resources departments.
Educating employees on the need for voluntary disability insurance can lessen the risk of the financial impacts of a disability. Working with your carrier to develop an engaging educational campaign and easy enrollment process will help increase participation and prepare your employees for the future.
To learn more about the need for strong enrollment strategies, download The Standard’s new white paper, Educate And Engage: Connecting With Millennials About The Importance of Disability Protection, as well as new infographics that discuss additional prevalent disabling conditions and how to reach at-risk employee populations.