Updated December 2023
The start of new year is prime time to make benefits communications a priority. Employees have a fresh mindset. They’ve made resolutions and declarations to better themselves. We encourage you to help your employees start the year off right—and tap into their benefits to help maximize their physical, mental and financial health!
Here are 10 things employees should do to start 2024 with a benefits bang:
1. Check paystubs. Are they accurate?
As 2024 benefits go into effect, it’s helpful to confirm everything is correct with the first paycheck of the year. If there are inaccuracies, it’s easier to correct them the earlier they are discovered.
2. Opt into paperless W-2s.
With W-2s going out in January, it’s good practice for employees to confirm their personal contact information—and opt into a paperless version if that’s an option.
3. Gather FSA receipts and submit by the deadline.
If employees want reimbursed for 2023 FSA claims, they must submit receipts by your deadline. Remind them (and remind them again).
4. Make preventive care a priority.
After another year in which some may have delayed preventive healthcare again, we recommend making this a key focus for 2024. And this is usually free, so that’s always positive to reinforce. This is also a good time to emphasize the importance of having a primary care physician.
5. Give their retirement plan a “raise.”
An increase in contributions—no matter how small—will pay dividends in the future. Remind employees how important it is to continue to prepare for what’s next.
6. Tap into EAP.
Mental health is going to be a focus for some time, so remind employees about EAP and other services available to them. Employees can generally receive a set amount of counseling appointments free—and so can their dependents.
7. Be aware about the rules for changing benefits.
If employees have a “qualifying life event,” they may be able to make a related change of benefits—if they report and submit the appropriate documentation within your determined timeframe of the event. Help employees understand what life events qualify and the necessary reporting process.
8. Check to make sure your beneficiaries are accurate.
Things change—a lot. On an annual basis, it’s helpful for employees to review their beneficiaries for their life insurance and retirement plans—this ensures their intentions are easily upheld in the event of death.
9. Set up and virtual healthcare accounts.
Not only are virtual healthcare options smart, but we’ve also all discovered how convenient they are! And the best time for employees to set up accounts is while they’re feeling good. And remind them to set up an account for each family member covered.
10. Take advantage of financial wellness programs.
Programs like this see an uptick in the beginning of the year, as employees consider how to better budget, pay off debt and save, etc.
Want to chat? Reach out at helloindy@westcomm.com or follow us @westcomm on LinkedIn for more insights.
