Open enrollment, sometimes called annual enrollment, is the period when you can freely change your insurance plans. Open/annual enrollment occurs both for individual plans and employer-sponsored plans.

Waiting periods will vary from company to company. Employers usually define waiting periods with benefit carriers when they establish benefits. Employers can amend waiting periods at renewal, but they typically stay the same.

When an employee terminates mid-month, coverage will generally last through the end of the month. For plans with a non-traditional effective date, one that was initially effective on the 15th of the month, for example, coverage will last through the end of that billing period.

From small to large businesses, offering employee benefits to retain top talent is essential! But how small is too small to write group benefits for your company?