How the Pandemic Has Changed Open-Enrollment

Summary

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WSJ Your Money Briefing

Episode: How the Pandemic Has Changed Open-Enrollment
Date: November 13, 2020
Host: Charlie Turner
Guest: Katherine Dill, Wall Street Journal Reporter

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Episode Overview

This episode examines how the COVID-19 pandemic has reshaped the annual open-enrollment period for employer-sponsored health insurance in the US. Host Charlie Turner speaks with WSJ reporter Katherine Dill about increased employee anxiety, new employer strategies, and the challenges of communicating benefits during widespread remote work. The discussion highlights changes in plan selection behavior, employer priorities, and practical advice for workers navigating this unusually complicated benefits season.

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Key Discussion Points & Insights

Rising Concerns Over Cost and Coverage

• Many workers are especially concerned about how to pay for health insurance as economic uncertainty caused by the pandemic weighs on household budgets.
• Employees with dependents are now adding family members to their plans due to job losses among spouses and partners, heightening cost anxieties.
• There's a significant trend toward selecting higher-deductible plans as individuals seek to limit monthly paycheck deductions, often paired with Health Savings Accounts (HSAs).
  Quote:

  "We're also seeing a lot of people with dependents who've lost jobs that are bringing them onto their own insurance. And so those concerns about cost are big for employees this year."
  —Katherine Dill [00:48, 01:52]

Employer Strategies: Stability Over Savings

• Most employers are striving to provide stability rather than shifting cost burdens onto employees, in recognition of the stresses of 2020.
• The majority of companies are making no changes to premiums, deductibles, or co-pays. They are preserving “core benefits” to minimize employees’ stress.
  Quote:

  "The majority are planning not to make any changes not to raise deductibles, premiums, co pays. They are really looking at those core benefits ... planning places where they can ... minimize stress for employees in an otherwise extremely stressful year."
  —Katherine Dill [02:41]

Case Study: Zynga’s Pandemic Response

• Game developer Zynga rapidly shifted its benefits strategy in response to COVID-19:
  • Expanded backup child and elder care benefits
  • Waived certain co-pays for medical services
  • Fast-tracked the launch of a global mental health support program originally slated for 2021, implemented November 1
  • Added musculoskeletal benefits anticipating work-from-home injuries
    Quote:

  "He fast tracked a global mental health support program that they had been planning to implement in 2021. It took effect November 1st."
  —Katherine Dill [03:17]

The Communication Challenge of Remote Work

• Traditional ways of informing staff about health benefits (health fairs, flyers) are impossible with remote work.
• Employers have responded with:
  • Virtual benefits fairs
  • Extra digital messaging and targeted communication about COVID-specific changes
  • Emphasis on the importance of reviewing all options and reading the “fine print” amid increased complexity
    Quote:

  "It's always a big challenge for employers to communicate to their employees the array of benefits... It's an even bigger challenge now that there's nowhere to physically put up a flyer."
  —Katherine Dill [04:14]
  "...as one expert told us, it's a great year for employees to read the fine print."
  —Katherine Dill [04:57]

Advice for Workers: Take Advantage of Expanded Resources

• Many employers now offer resources for financial planning and enhanced benefits.
• Employees are encouraged to review all available options carefully, as this could be the year where overlooked benefits provide crucial support.
• Taking time to “look at the full benefits picture” is now more important than ever.
  Quote:

  "This is a great year for employees to really take the time to consider benefits that in the past they may have thought, I don't have time to think about this ... Now is definitely the time."
  —Katherine Dill [05:06]
  "...it's really a great time for employees to figure out how else they could be maximizing their total benefits."
  —Katherine Dill [05:32]

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Notable Quotes and Memorable Moments

• “Workers are pretty concerned about how to pay for their health insurance.”
  —Katherine Dill [00:48]

• “The majority are planning not to make any changes—not to raise deductibles, premiums, co-pays.”
  —Katherine Dill [02:41]

• “He fast tracked a global mental health support program that they had been planning to implement in 2021. It took effect November 1st.”
  —Katherine Dill [03:46]

• “It's always a big challenge for employers to communicate... the array of benefits that are available to them. It can be complicated. It can be boring.”
  —Katherine Dill [04:14]

• “This is a great year for employees to really take the time to consider benefits ... Now is definitely the time.”
  —Katherine Dill [05:06]

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Timestamps for Important Segments

• 00:37–01:03 – Introduction to open enrollment in the context of the pandemic
• 01:52–02:33 – Employees' main concerns: cost and coverage for dependents
• 02:41–03:09 – Employers’ focus on stability and maintaining core benefits
• 03:17–04:06 – Zynga’s rapid adjustment: expanded and accelerated benefits
• 04:14–04:59 – Communication challenges and solutions for remote workforces
• 05:06–05:39 – Practical advice: maximizing and reviewing new benefits

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Takeaways

• The COVID-19 pandemic has deeply affected both the concerns of employees during open enrollment and the ways employers respond.
• Stability and enhanced support (especially mental health and dependent care) are key trends.
• Employees should not overlook the “fine print” or new resources available this year.

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Transcript

[Small Business Owner]

Access to affordable credit helps me pay my employees, but I don't really need it.

[Retail Industry Representative]

Inflation is killing me, but who cares? Big retailers are making record profits. That's why we support the Durbin Marshall credit card bill.

[Small Business Owner]

See banks and credit unions help small businesses make payroll. This bill would cut the vital resources

[Retail Industry Representative]

they need while increasing megastore profits. They deserve it, don't they?

[Advocacy Group Representative]

Tell Congress, stop the Durbin Marshall money grab for corporate megastores paid for by the Electronic Payments Coalition.

[Charlie Turner]

Here's your money briefing for Friday, November 13th. I'm Charlie Turner for the Wall Street Journal. Open enrollment period for health insurance is coming at a bad time for workers.

[Katherine Dill]

Workers are pretty concerned about how to pay for their health insurance. We're also seeing a lot of people with dependents who've lost jobs that are bringing them onto their own insurance. And so those concerns about cost big for employees this year.

[Charlie Turner]

How are employers tailoring their health care offerings in the pandemic era? We'll talk with our reporter Katherine Dill after the break. This is the time of year when open enrollment takes place for employees choosing their health insurance options. And this year has been particularly stressful for workers who've had to deal with the COVID 19 pandemic and and the resulting economic turmoil. The Wall Street Journal's Katherine Dill has been looking into how companies are crafting their health insurance offerings. Katherine, thanks for joining us. Thank you for having me, Kathryn. The coronavirus pandemic is resurging across the US with that in mind, what are American workers most worried about with regard to the open enrollment period?

[Katherine Dill]

What we're seeing is that workers are pretty concerned about how to pay for their health insurance, at least from the employee side. We're seeing a lot economic anxiety, which is leading a lot of people to choose higher deductible plans. You know, they, they know that the a higher deductible can be a challenge, but they're also concerned about the, you know, the regular cost to their paycheck. And a lot of them also are looking to be able to take on a health savings account. We're also seeing a lot of people with dependents who've lost jobs that are bringing them onto their own insurance. And so those concerns about costs are big for employees this year.

[Charlie Turner]

Health care costs are continuing to go up. How are employers responding to this? Are they planning to raise premiums or cut costs?

[Katherine Dill]

No. While costs are continuing to go up, what employers are really prioritizing here is providing employees with stability. The majority are planning not to make any changes not to raise deductibles, premiums, co pays. They are really looking at those core benefits, you know, health insurance, dental, as planning places where they can provide, they can minimize stress for employees in an otherwise extremely stressful year.

[Charlie Turner]

You highlighted one company in your story, game developer Zynga. What changes has Zynga made in providing health insurance to workers?

[Katherine Dill]

You know, heading into this year, Zynga's benefits manager was looking at implementing a new, a new gym benefit and a few things that were going to be really useful to people before the pandemic. And then once the pandemic hit, he really had to pivot. And they introduced, they expanded crisis backup, child and elder care benefit. They waived some co pays through the summer, some other co pays through the end of the year. He fast tracked a global mental health support program that they had been planning to implement in 2021. It took effect November 1st. They also started looking at what are some of the, you know, what's some of the fallout of working from home going to be. And anticipating some back injuries, some neck injuries. They're implementing a musculoskeletal benefit for next.

[Charlie Turner]

Well, let's explore working from home a little more broadly. How has working remotely complicated this process? What are employers doing to address this?

[Katherine Dill]

You know, it's always a big challenge for employers to communicate to their employees the array of benefits that are available to them. It can be complicated, it can be boring. And it's an even bigger challenge now that, you know, there's nowhere to physically put up a flyer. You know, many employers hold these health fairs every year to provide employees with information about all these benefits and their financial benefits as well. And that's not possible either. So many, many employers this year have opted to do additional messaging. They're doing virtual benefits fairs. They're really emphasizing how you can look at your benefits specifically in light of the COVID pandemic. They're really doing everything they can to reach employees this year. And as one expert told us, it's a great year for employees to read the fine print.

[Charlie Turner]

And Catherine, what's the most important thing workers choosing their plan should keep in mind according to the people you've spoken with?

[Katherine Dill]

You know, workers really want to. Again, this is a great year to take a look at the full benefits picture. You know, lots of employers are adding additional resources for financial planning. And this is a great year for employees to really take the time to consider benefits that in the past they may have thought, I don't have time to think about this. This is too complicated. Now is definitely the time. A lot of employers are really stepping up to try and provide this additional support. And it's really a great time for employees to figure out how else they could be maximizing their total benefits.

[Charlie Turner]

Picture Wall Street Journal reporter Kathryn Dill. Thanks for being with us.

[Katherine Dill]

Thank you.

[Charlie Turner]

And that's your money briefing. I'm Charlie Turner for the Wall Street Journal.

[Small Business Owner]

Access to affordable credit helps me pay my employees that I don't really need it.

[Retail Industry Representative]

Inflation is killing me, but who cares? Big retailers are making record profits. That's why we support the Durbin Marshall credit card bill.

[Small Business Owner]

See banks and credit unions help small businesses make payroll. This bill would cut the vital resources

[Retail Industry Representative]

while increasing megastore profits. They deserve it, don't they?

[Advocacy Group Representative]

Tell Congress, stop the Durbin Marshall money grab for corporate megastores paid for by the Electronic Payments Coalition.