Despite the stress and potentialfor problems, open enrollment provides an opportunity for a companyto set itself up for success for the following year.
One of the busiest times of year for an employee benefitsprofessional is open enrollment. It is a crucial and yetstressful time of year that typically results in numerous employee questions and complaints and is a timeof year with high potential for both employer and employeemistakes. Despite the stress and potential for problems, openenrollment provides an opportunity for a company to set itself upfor success for the following year.
The Employee Retirement Income Security Act (ERISA) does notrequire an annual opportunity for employees to change benefit planelections. However, because of compliance issues that can spring from notoffering a regular enrollment period, most companies choose tooffer an “open enrollment” period, usually taking place in mid- tolate fall for calendar-year health and welfare benefit plans.
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