Tips To Help With the Benefits Plan Renewal Process

Scrolling through emails, you see one from your group benefits plan provider flagged as urgent. You click on it and do a quick scan. It’s a notification that your organization’s benefits plan is up for renewal. You already have a desk full of urgent matters, and now this? It feels like there isn’t enough time or people power to get it all done.

For many organizations, benefits plan renewals now happen against a backdrop of packed schedules, rising costs, changing workforce expectations, and tighter budgets.

We can help! This three-step guide will give you all the information you need about the renewal process and how to get a great plan on a budget.

Step 1: Obtain and Review the Data (Understand Usage and Costs)

This step is where you will gather information and analyze it. Ask your benefits plan provider to send you the claims experience data for the last few years.

This information will tell you:

Which benefits are the most used
Which benefits are under-utilized
Changes in usage trends
Industry benchmarks

As you analyze the information, look for gaps in the current benefits offerings. Seeking feedback from employees is one of the best ways to identify how to strengthen the benefits plan. Talk to employees, listen to what potential candidates are asking about, and make a note of plan deficiencies mentioned in exit interviews.

Before you move on to the next step of the renewal process, confirm the actual costs paid for the current plan. Also, document recent and projected organizational changes that might impact the benefit plan. For example, has the organization transitioned to hybrid or does it exclusively have remote employees? Will there be a significant change in staffing levels over the next few years?

The goal of this step is to understand where your benefits dollars are going and where they are not delivering value.

Step 2: Know Your Options (Modern Benefits That Fit Today’s Workforce)

The world of work has changed significantly in the last decade, and employee benefits plans have kept pace with these changes. Plan providers have introduced new evidence-based and innovative products.

Digital health solutions are now widely available for counselling, medical advice, occupational therapy, physiotherapy, and specialist consultations.
There are more options for gender-affirming care.
Benefits plans offer programs that align with the latest medical and scientific research in disability and chronic pain management.

Employers are surprised to learn how much flexibility now exists in plan design compared to even five years ago. There are many impactful products and services; you just need to ask about them.

Plan design is more flexible than ever, and some employers are choosing a hybrid option. This allows them to provide medical and dental benefits, as well as spending accounts such as HSAs and WSAs, that better meet each employee's unique needs.

Knowing your options ensures your benefits plan reflects how employees actually work and access care today.

Step 3: Negotiate (Control Costs Without Cutting Value)

You do not have to accept the first price and plan design offered by your chosen benefits plan provider. You don’t even have to accept the second or third.

Use the negotiation period to ask for things like:

Plan add-ons, modifications, and omissions
Additional cost-saving strategies and incentives
Refunds
A reduced rate

If you are unsure how to deploy an effective negotiation strategy, using a benefits broker can be a huge help! When we work with organizations like yours, we use our industry-specific insights and insurance expertise to push back and get the best plan possible within your budget.

Negotiation helps balance employee needs with financial realities, without defaulting to benefit cuts.

A Smarter Way to Navigate Benefits Plan Renewal

The benefits plan renewal process takes time, attention, and the right information. When renewals are handled thoughtfully, they become an opportunity to improve employee engagement, control costs, and align benefits with how people actually work today.

Working with a benefits broker can simplify the process. With the right expertise and market insight, you can evaluate your options, negotiate confidently, and arrive at a plan that balances employee needs with financial priorities. The result is a benefits plan that earns support from employees and leadership alike.

If you would like help navigating your next renewal, we are here to support you. Get in touch to learn more about our benefits consulting services.

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