What can be more frustrating for companies than taking the time and effort to offer a voluntary benefit, only to see tepid enrollment results and low employee participation? With time, plan administration and bottom line costs all competing for the HR department's attention these days, making a commitment to offer more voluntary benefits – like a legal insurance plan – may seem like an uncertain payoff.
Employers who are holding back, however, should consider some recent enrollment and retention data from ARAG:
- 97% retention rate among employers1
- 90% retention rate for members2
Plus, 95% of employers say that ongoing enrollments are easy with ARAG.3 Those results, say Mindy Anfinson, Regional Client Manager with ARAG, can be attributed in part to the legal insurer's proven approach to enrollment best practices.
"We've identified four critical success factors that make enrollment and ongoing participation in a voluntary plan successful. It's something that is top of mind for me every time I work with a new client."
These four factors include:
- Holding a single enrollment period for both core and voluntary benefits.
- Offering payroll deduction.
- Communicating early and often.
- Demonstrating support.
Working with a dedicated client manager to help drive plan information and employee communications – along with guiding implementation – boosts success. And, since offering the benefit comes at no additional cost to employers, legal plans create a win-win combination for companies and their employees.
ARAG legal insurance plans typically cost employees around $20 per month and give them access to more than 14,000 credentialed attorneys. Having a nationwide attorney network at their disposal helps employees identify an attorney to handle their legal needs. In turn, employers can benefit from satisfied employees and increased workplace productivity, as employees aren't expending valuable time on the job dealing with legal matters.
1 Based on all active clients with a group plan. Average annual client retention over the last five years as of 1/1/2019.
2 Percentage of members who re-enrolled in the legal plan during open enrollment.
3 "Legal Plans Save Time, Reduce Stress." ARAGlegal.com. Statistics are from the study "HR Professional's Return on Investment (ROI) in ARAG Legal Plan," 2012 September
