Increasing Voluntary Benefit Participation with Enrollment Strategy for a Multi-Location Collections Agency
Partner
CLIENT
A collections agency operating in various locations with a workforce of 515 employees.
ISSUE
The collections agency aimed to enhance their employee benefits package by introducing voluntary benefits. The main objective of this initiative was to educate employees about their medical plan and ensure accurate and cleansed data in the enrollment system.
Previously, the collections agency experienced challenges in communicating enrollment information due to the dispersed nature of their offices and the limitations created by the COVID-19 pandemic – preventing face-to-face interactions. Group meetings were originally used for this purpose, but they proved to be impractical since they required significant time away from their desks simultaneously…leading to a decrease in overall productivity.
IMPACT
Plan
M3 engaged our enrollment partner to create a customized pre-communication strategy using announcement flyers, reminder messaging, and emails. As part of the strategy, the collections agency employees used an online scheduling tool for 1:1 enrollment via outbound calls.
The calls were scheduled between the hours of 8:00AM to 8:00PM, which allowed employees to coordinate outside of regular work hours. In addition to these changes, the collections agency enrolled in a technology platform that accurately captured and tracked the benefit elections.
Evaluate
Throughout the plan year, 456 out of 515 employees enrolled with a benefit counselor through pre-scheduled telephonic meetings. During the 30-minute consultative phone calls, employees and their spouses had the opportunity to verify their personal information, review their medical options, and learn about new supplemental benefits.
The enrollment process increased participation in voluntary benefits, including accident (50% participation), critical illness (38%), and hospital indemnity (36%). The implementation process was seamless because all benefit elections and deductions were provided to the employer post-enrollment. As a result, employee surveys yielded overwhelmingly positive responses regarding their experience.
The benefits counselor was very friendly and answered all of my questions and gave me his personal options to make me better understand which benefits I should take and which I shouldn’t.
This was done professionally and with great knowledge of the plans so it made the choices quick and easy for me. Please do this every year going forward.
98% of the clients’ employees found this experience helpful and 95% felt that their knowledge of the benefits offered increased after meeting with a counselor.
Because of M3’s approach to voluntary benefits and engagement during enrollment, the collections agency experienced a seamless implementation of employee benefits, along with positive feedback from their employees.
