New Case Study: Personalized Employee Benefit Statements Create Successful Enrollment of Voluntary Benefits

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Motivated by continuously rising costs for health insurance, increasing numbers of employers and employees both are turning to employee-paid Voluntary Benefits (VB) for insurance coverage. Yet group brokers often struggle with employer resistance to stand-alone VB enrollments at the workplace, as well as low participation and limited access to employees. As detailed in a new Cornerstone Enrollment Services Case Study, personalized Benefit Statements can open the door to a VB enrollment, create almost 100 percent access to employees, and dramatically increase voluntary participation.

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 participation—and premiums—in VB enrollments.

The case study (available at http://www.cornerstonevb.com/Cornerstone_Case_Study_Benefit_Statements.pdf) 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. Cornerstone’s salaried Benefit Counselors wrote over $150,000 in new annualized Voluntary Benefit premiums.

“Our Benefit Statements created a definite ‘buzz’ among employees,” notes the study, “such that our counselors were able to arrange scheduled meetings with many employees in work areas beyond the cafeteria, where we were initially stationed.”

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

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

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.

About Cornerstone Enrollment Services

Cornerstone Enrollment Services is an independent enrollment and benefits communication company, with over 60 years of combined experience in employee benefits insurance and 25+ years of voluntary benefits experience.

We use only career, salaried enrollment counselors and experienced case managers. And you can expect one of our partners to be on-site during every enrollment to monitor the process and assure a quality enrollment.

Cornerstone employs current technologies—including our in-house dedicated call center with voice stamping—to enhance communication, maximize enrollment outcomes, assure quality data, and satisfy both broker and employer expectations. Other services include personalized Benefit Statements and a turnkey Hispanic Enrollment Service.

Our objective is to be a valuable, long-term partner with the broker. For more information, please call Nelson Griswold at 866.370.3401 or visit the company’s website at http://www.CornerstoneVB.com.

Cornerstone Enrollment Services

866.370.3401

http://www.CornerstoneVB.com

This press release was distributed through eMediawire by Human Resources Marketer (HR Marketer: http://www.HRmarketer.com) on behalf of the company listed above.

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Nelson Griswold