Why a Mid-Year Benefits Review Can Save You Money (and Headaches)

As a small business owner, it’s easy to think of employee benefits as a “set it and forget it” part of running your business. But just like your finances or marketing strategy, your benefits plan deserves a check-up—especially at the midpoint of the year.

Here’s why a mid-year review can be a smart move:

1. Catch Issues Before Renewal Season

Fall or Winter can be a chaotic time. By checking in now, you can:

• Evaluate how your plan has performed so far

• Identify gaps in coverage or confusing options

• Avoid a last-minute scramble when renewal notices arrive

2. Get Ahead of Rising Costs

Insurance rates tend to rise year over year, but there can be ways to control costs:

• Reassess carrier networks and plan options

• Consider integrating cost-saving options like Direct Primary Care or telehealth

• Explore alternate funding models (especially if your team has under 50 employees)

3. Improve Employee Satisfaction

A well-timed conversations with employees can give insight into what they value:

• Are they using their benefits?

• Do they understand what’s available?

• Is there a benefit they’re asking about (like vision, dental, or mental health support)?

Benefits that go unused or misunderstood can feel like wasted dollars. Education and communication go a long way.

4. Stay Competitive

Recruiting and retention are real challenges in today’s job market. Offering the right benefits—and making sure employees know how to use them—can set you apart.