In this collaborative activity, your team will formulate a recommendation for open enrollment for employee benefits to present to senior leadership. The presentation should incorporate analysis, interpretation, and research. Each team member is accountable for contributing to compiling and presenting recommendations.

Instructions

Start by reviewing the current plan options $($Appendix A darr $).$ This document is typically provided to employees when they start employment and$/$or during open enrollment. It provides details of the current benefits package and its cost to the.employee. We reviewed this in week $10\text{'}$s live class.

Next, the claims from the previous years are reviewed $($Appendix B darr $).$ This is typically provided to the benefits$/$HR manager and illustrates how much the insurance company has paid in claims. Analyze the cost of the premiums $($this is the amount that the employer pays to cover the employees. This includes what is deducted from the employee's paycheck AND the employer's portion$).$ Analyze the claims $($this is the cost the insurance company has paid$).$ Compare the premiums to the claims. Insurance companies aim to have an $80\%$ ratio $($the remaining $20\%$ is used for administrative and overhead costs$).$ The higher this ratio, the more the insurance company charges.

Lastly, the proposals for the new plan year are reviewed $($Appendix $Cdar{r}_C.$ Compare the various options, including coverage and costs. The Open Enrollment Calculator darr $)$ will help you calculate the cost to the employees and the cost to the employer $($note: the information in the calculator will need to be updated with information from your organization$).$

Prepare a presentation of your recommendation for senior leadership. The overall recommendation should include:

Changes to health plans $($medical$,$ dental, vision$)$ with rationale

Changes in cost to the employee $($include an anticipated response by employees$)$

Changes in cost to the employer $($supported with rationale$)$

Any other recommendations that may arise $($utilize your work from week $10.)$

How you will communicate these changes to employees

Your presentation must be a collaborative effort. Team members are equally tasked with analyzing, interpreting, researching, and determining recommended