As we approach the end of the year, it’s a great time to re-evaluate your current benefit statements or consider producing them for you employees! Over time, just as your benefit plans may change, your employee benefit statements should also update. Perhaps your company has changed providers, increased or decreased levels of coverage, or even added a new benefit? These are all great things to consider including on a benefit statement.
Also consider your current offerings – is there something that employees aren’t taking advantage of or seem to be unaware is available for them? If so, adding a section to your benefit statements about that service can be a great way to increase awareness.
When updating your employee benefit statements, one major offering that many clients choose to add is retirement. If you have a retirement matching program, but most employees aren’t receiving their full match, that’s an opportunity to educate! Adding a retirement section to your benefit statements allows employees to benchmark where they are currently against what they should be contributing to receive a maximum match. It can even show projections of what their match could be if they increase their contributions by just 1%.
Other benefits that make sense to highlight are new offerings or changes coming to your benefit plan. Maybe you have increased the spousal and family coverage on your healthcare plan, or your life insurance has added a complementary Employee Assistance Program? These are important things to let employees know about, so consider adding a callout to your benefit statements highlighting these updates!
Need some inspiration? Download our latest sample set for some great examples of what you can do with your benefit statements! Or Contact Us for a more in-depth look at what we can do to help you update your employee benefit statements!