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Group insurance renewal checklist 

By: Benefits by Design | Tuesday July 30, 2024

Updated : Monday July 29, 2024

When you have employee benefits, a group insurance renewal is not a matter of if, but rather, when. Which means it’s a good idea to prepare ahead of time, so you understand what you’ll be agreeing to for the coming year. Before and during the renewal process, there can be a number of things to be aware of. 

Understanding your renewal infosheet 

We created this handy group insurance renewal checklist so you can ensure you’ve crossed all the t’s and dotted all the i’s. 

Your group insurance renewal checklist 

Understanding the Group Benefits Renewal Process

Before your renewal 

During your renewal 

Remember, if your insurer doesn’t hear from you by the date of your renewal, they will automatically apply the renewal rates based on the calculations by their underwriters. These are the people who assess risk and trend factors for the insurers and try to estimate future claims experience. 

Communicating your benefits after your group insurance renewal 

Employees won’t use their benefits if they aren’t aware of them. Ask yourself: “When was the last time we communicated information on employee benefits, and how?”  

[Free Download] How to Nail Your Benefits Communication Strategy

Ideally, you should be communicating with multiple touchpoints, and in multiple formats. Especially if there were changes made to the plan based on employee feedback or usage trends.  

Start by scheduling upcoming communications that work for as many employee as possible. Consider vacations and time of day, as well as the number of meetings and other events occurring. These communications should be ongoing throughout the year. Try the following formats: 

Group insurance renewals, while they only occur once a year, have a big impact on employee satisfaction, and therefore productivity and engagement. Being diligent when reviewing your renewal can ensure you continue to have a sustainable and successful benefits plan. 

Still have questions about how your group insurance renewal works?

Everything You Need to Know About Benefits Renewals