Enrolling employees in a group benefit plan is important for both employees and employers. These plans offer coverage protecting employees from unexpected costs reducing financial risk. Additionally, the benefits package plays a role in an employee compensation package. Prioritizing benefits enrollment and timely coverage helps employers fulfill the benefits portion of their compensation package. This approach also boosts recruitment, improves retention, and supports the organization’s overall success.
Who is Eligible to Participate in the Group Benefits Program
Enrolling eligible employees in a group benefit plan begins with determining whether they meet the eligibility requirements set by the employer under the policy.
Completing an Employee Enrollment
When it is time for an employee to enroll, the process is straightforward. They simply need to complete an enrollment form with their own information and any dependents’ details. The form is divided into six easy sections.
Employer Details
The employer details are the firm’s name as indicated on your policy. This allows us to associate the enrollment with your benefit program’s policy.
Employee Details
The employee’s information is required to calculate coverage and rates accurately. This includes their given names, address, date of birth, monthly income, occupation, date of full-time employment, family status, and smoking status
Coverage Information
This section enables employees to customize their health and dental coverage by coordinating with other benefits programs. It requests information about any additional coverage, such as a spouse’s benefit plan, to ensure proper coordination of benefits. Additionally, the section gathers details about converge for Pharmacare in Provinces where applicable, to proactively coordinate benefits with these programs.
Coverage Information Opting out (Covered by Spouse)
Employees can choose to opt out of the health and dental coverage only when they are already covered under their spouse’s plan.
Dependent Information
Employees need to indicate each of their dependents’ names, birthdates, gender, and relationship to the employee (spouse, dependent child) who will be included in the benefit coverage. Without this information dependents cannot be included under the coverage.
Beneficiary Designation
Group benefit programs generally have a life insurance benefit. In this section, the employee can name beneficiaries who would receive the payment of this benefit. The employee can split the benefit to multiple beneficiaries based on a percentage, as long as the total does not
exceed 100%. Also, the employee can name children as beneficiaries in cases where the children are not yet at the age of majority. They will also have to list a trustee who would be responsible for managing the payment on the child’s behalf.
*If no beneficiary is named, the estate will be the beneficiary of any death benefits.
Signature and Authorization
Once an enrollment is complete, it needs to be signed by the employee and the firm contact on file. These signatures authorize the use of the employee information included in the enrollment for use as part of enrolling them onto the group benefit program. The employer representative is authorizing the addition of the employee onto the group benefit program.
For a smooth and efficient enrollment process, consider the following best practices
Timely Submission
Submit the completed enrollment form within 31 days of the employee’s eligibility date to avoid delays, and possibility of the employee becoming considered a late applicant, which can impact their coverages.
Legibility
Ensure that all information provided on the enrollment form is legible and accurately reflects the employee’s details to prevent processing errors.
Original Documentation
While we will accept “soft copies” of employee enrollment to process new enrollees, it is important to be aware that the employee enrollment form is a binding document. Submitting the original as part of the enrollment process allows us to retain and manage the document on your behalf, as it may be requested by the insurer at the time of a claim.
By following these steps and best practices, employers can ensure a seamless enrollment process for their employees, providing them with the essential coverage they need while fostering a positive and supportive workplace environment.
This blog post is for informational purposes only and should not be considered as professional advice. For guidance specific to your situation, please consult with a qualified insurance advisor.