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Offering Employee Benefits

Common Benefits Offered at OE

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The major component of open enrollment focuses on presenting employees with various benefits provided by the employer, often referred to as employer-paid benefits. 

Employer-paid benefits 

Health insurance is one of the most popular benefits offered to employees. Employers can offer different types of health insurance plans, with the most common types including Preferred Provider Organization (PPO) plans, Health Maintenance Organization (HMO) plans, and High-Deductible Health Plans (HDHPs). The coverage and cost of each plan will vary depending on the insurance provider, but employees usually have the option to choose from self-only coverage or family coverage. 

These benefits packages differ from company to company, but most employers offer healthcare, disability and retirement benefits, at the very least. While not all states require employers to offer healthcare coverage for their employees, according to the Bureau of Labor Statistics, in 2022, access to healthcare benefits was available to 74 percent of workers and 57 percent of workers participated in the benefit. 

Voluntary or Lifestyle Benefits 

During open enrollment, employees typically have additional coverage choices to consider. These ‘voluntary’ or ‘lifestyle benefits’ are offered as a benefit to employees (or enticement for new hires to join the company.) These are usually paid for by the employee but provide access to benefits that would be prohibitively expensive or unavailable to them as a consumer. Voluntary benefits may also be called employee-paid benefits or supplemental insurance. 

Popular voluntary or lifestyle benefits include: 

  • Pet insurance 
  • Mental health support 
  • Fitness reimbursement 
  • Tuition support 
  • Wealth management 
  • Disease management 
  • Legal services 
  • Emergency financial support 
  • Pet Insurance 
  • Home and auto Insurance 
  • Continuing education 
  • Identity theft protection 

Employers recognize the value of offering these benefits to attract and retain top talent, as well as improve overall employee wellbeing and job satisfaction. However, with so many choices and a limited amount of time to weigh and evaluate options, it can be a confusing and overwhelming experience. 

How HR and benefits plan administrators manage the process can ensure open enrollment is as stress free and successful as possible for everyone. We will get into some of these best practices further on the page. 

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Common Benefits Offered at OE

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