Personalized Employee Benefit Statements Create Successful Enrollment of Voluntary Benefits

A new study from Cornerstone Enrollment Services highlights the power of personalized Benefit Statements to motivate HR departments to offer a Voluntary Benefits (VB) enrollment, enable access to employees, and dramatically increase participationóand premiumsóin VB enrollments.

The case study centers on a suburban hospital with 700 VB-eligible employees. The broker added value for the employer by distributing customized Benefit Statements to employees during the enrollment to show them the value of their Hidden Paycheck. Because Cornerstone Enrollment Services produced free personalized Benefit Statements for the broker and client as part of their enrollment services, the statements were a no-cost way for the hospital to boost employee morale and retention.

With good pre-enrollment communication, employee interest in the Benefit Statements was high and brought most employees to the enrollment tables. Despite being restricted to the hospital cafeteria, the enrollment team eventually met with almost 100 percent of the VB-eligible employees.

Good employee access resulted in strong participation in the VB offerings. Cornerstoneís salaried Benefit Counselors wrote over $150,000 in new annualized Voluntary Benefit premiums.

ìOur Benefit Statements created a definite ëbuzzí among employees,î notes the study, ìsuch that our counselors were able to arrange scheduled meetings with many employees in work areas beyond the cafeteria, where we were initially stationed.î

The paperís closing analysis notes that, by using the VB enrollment to both increase employee retention and morale and enhance the hospitalís benefit offerings, the broker further established further proved his value to the client and created an additional revenue stream from an existing client.

ìOur pledge as an enrollment firm is to make Voluntary Benefits work for both our partnering broker and the client,î said Dan O. Maclellan, president of Cornerstone Enrollment Services. ìCornerstone Enrollment Services has proven that personalized Benefit Statements help us successfully meet the differing needs of both the broker and the client.î

To view the case study in its entirety, visit http://www.cornerstonevb.com/Cornerstone_Case_Study_Benefit_Statements.pdf to download it or call 1-866-370-3401 to request a free copy by mail.