No doubt about it. The world of employee benefits has become challenging, for both employers and employees, as choices and communication channels proliferate. Drawing on years of experience working with all sizes of employer customers, MetLife’s
new M-Powered Enrollment, a multi-product, multi-channel enrollment program, simplifies the end-to-end enrollment experience and helps to maximize the value of an employer’s benefits program. View a short video at www.metlife.com/mpowered to understand the benefits of this easy-to-use program.
When it comes to enrollment, the bottom line for employers is a process that simplifies enrollment administration by offering a solution that is easy to implement while providing the flexibility to tailor to preferred enrollment methods – online, telephone or paper. The M-Powered Enrollment program helps companies smoothly manage enrollment by integrating multiple benefits from MetLife with their medical plan enrollment. Utilizing online enrollment enables employees to complete real-time Statement of Health and Beneficiary Designations, thus reducing the amount of paperwork that employers and employees have to handle and increasing data accuracy. The program also includes robust real-time reporting capabilities, enabling plan administrators and brokers to monitor participation and identify gaps.
Another challenge is effectively presenting employees with the information they need to make their enrollment decisions. With its integrated decision and support tools,
M-Powered Enrollment helps employees through the enrollment process by providing the benefits guidance they need, when they need it. Because employees can easily assess their needs, determine the coverages that fit and complete their enrollment, M-Powered Enrollment can positively impact an employer’s participation rates and overall employee benefit satisfaction.
Now available to employers with 50 or more employees, M-Powered Enrollment reflects the desire of workers for help from their employer in making financial decisions. MetLife’s 10th Annual Study of Employee Benefit Trends, released earlier this year, found that access to financial education and tools was a distinct preference, with almost two-thirds (64%) of employees surveyed interested in company programs such as online tools, written material and calculators. In addition, Gen X and Gen Y employees have an even stronger interest in employers providing online tools. Seven in ten Gen Y respondents stated they were interested in having access to online tools, as were 69% of Gen X workers. This compares with 58% and 53%, respectively, for younger and older members of the Baby Boom generation. M-Powered Enrollment gives employees access to a powerful and informative array of educational tools, including benefits calculators and estimators, product tutorials and benefits explanations that help ensure a better understanding of benefit choices and a firmer grasp of the enrollment process.
“By offering interactive online enrollment features, M-Powered makes it easier to combine enrollment for MetLife benefits with an employer’s medical benefits,” observed Michael Fradkin, senior vice president, Group Voluntary and Worksite Benefits, MetLife. “M-Powered Enrollment can be used year-round, not just in open enrollment season, which gives employers more control over their benefits programs as well as added insight into how benefits, including voluntary benefits, are being used by employees. All of this can help employers optimize participation in their benefits plan.”
The Study of Employee Benefits Trends also found a strong correlation between benefits satisfaction and feelings of loyalty towards employers. According to the Study, 61% of employees who are very satisfied with their benefits say they feel a very strong sense of loyalty to their employer. M-Powered Enrollment, with its ability to handle enrollment for multiple benefits as well as an employer’s medical benefits, can also provide a pathway to offering more voluntary choices within a benefits program. The percentage of employers who regard voluntary benefits options as a significant part of their benefits strategy jumped to 41% in 2011 from 31% in 2010. Moreover, 62% of employers say that voluntary benefits will become an even more important benefits strategy over the next five years.
The M-Powered Enrollment program makes the process easier for both employers and employees by including these features:
- Complete end-to-end online enrollment experience, now including real-time Statement of Health submission and beneficiary designation.
- New decision advice and guidance provided by Amy Helper, an online, interactive avatar to help employees decide what benefit options are best for them and their families.
- A dedicated enrollment expert to help build an employee communications campaign.
- Dedicated call center support, as well as educational tools and calculators.
- Real-time reporting capabilities provided through an online administrator view, assisting to evaluate participation levels and to identify gaps.
No doubt about it. Delivering an enrollment program focused on voluntary coverage and simplifying the employee enrollment experience is key to meeting client benefit objectives regarding employee attraction, retention and satisfaction. Look to MetLife’s M-Powered Enrollment program as you expand and strengthen your client relationships.
Watch how easy it is. View a short video at www.metlife.com/mpowered.
Like most group benefits programs, benefit programs offered by MetLife contain certain exclusions, exceptions, waiting periods, reductions, limitations and terms for keeping them in force. Ask your MetLife group representative for costs and complete details. Metropolitan Life Insurance Co., New York, NY