Implementing Flexible Benefits powerpoint #21

Implementing Flexible Benefits powerpoint #21 - Listen...

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Implementing Flexible Benefits Implementing flex benefits involves: Benefit plan design Pricing of Benefits Employee communication Internal and external benefits Legal and accounting issues
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Flexible Benefit Plans Flexible Spending Accounts Comprehensive flexible benefits plans Simple choice plans Pretax premium plans
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Flexible Plan Design Flex Plans have four key areas: Eligibility Enrollment choices Family and employment status changes Special classes of employees
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Flexible Benefit Pricing Factors Net Cost Pricing without credit Incentive based pricing and credits Market based pricing
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Tax Concerns Section 125 Pretax Benefits Dependent group life and long term care Communication strategies
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Communication Involve management
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Unformatted text preview: Listen Expect emotional reactions Define key messages Weigh Demographics Select communication media Test media selection Formalize a plan Annual Enrollment Data setup Individualized Worksheets Distribution of Information Confirmation Integration of Information Review Conclusion THE END Pitfalls Lack of management commitment Allowing too little time for communication Feeling pressure to do it all the first year Expecting employees read Underestimating employees ability to choose Expecting employees to calculate correctly Failing to follow up after implementation Forgetting objectives in ongoing design...
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Implementing Flexible Benefits powerpoint #21 - Listen...

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