Beyond Open Enrollment: 5 Employee Benefits Decisions That Could Shape Your Business in 2027
Open enrollment may be wrapping up, but your employee benefits strategy shouldn't stop there.
As 2026 draws to a close, business owners and HR leaders are looking ahead to another year of balancing rising costs, employee expectations, and business priorities. While selecting health plans and reviewing premiums are important parts of the process, a successful benefits strategy goes well beyond annual enrollment.
The real question isn't simply what your benefits will cost in 2027. It's whether those benefits are delivering meaningful value to your employees and your business.
Before closing the books on 2026, consider these five decisions that could help shape a stronger, smarter benefits strategy for the year ahead.
1. Are You Spending More—or Spending Smarter?
Healthcare costs continue to be a significant concern for employers. But higher spending doesn't necessarily translate into better benefits.
Now is a good time to evaluate what you're getting for your investment.
- Are your current plans meeting employee needs?
- Could alternative plan designs offer better value?
- Are you taking advantage of available cost-management strategies?
- Is your employer contribution strategy sustainable?
The opportunity: Look beyond premiums and consider the total value of your benefits investment. A thoughtful review may reveal ways to manage expenses without sacrificing the quality of your offerings.
2. Do Your Benefits Reflect the Workforce You Have Today?
Your workforce may look very different than it did just a few years ago.
Employees at different career and life stages often have different priorities. Younger employees may place greater value on financial wellness and student loan assistance, while employees approaching retirement may be more focused on retirement readiness, healthcare coverage, and long-term financial security.
Consider whether your benefits package reflects the people who make your business successful.
Options worth evaluating include:
- Flexible healthcare and voluntary benefits
- Retirement savings and financial wellness resources
- Mental health and employee assistance programs
- Family support and caregiving benefits
- Supplemental insurance and income protection
The opportunity: A competitive benefits package isn't necessarily the one with the most options. It's the one that offers meaningful choices aligned with your employees' needs.
3. Are Employees Getting the Full Value of What You Offer?
You can invest in an excellent benefits package, but if employees don't understand what's available, much of that value may go unrealized.
Benefits communication shouldn't be limited to a few weeks during open enrollment.
Employees need clear, accessible information throughout the year to make informed decisions about their healthcare, retirement savings, and financial well-being.
As you plan for 2027, ask yourself:
- Do employees understand their coverage and costs?
- Are they aware of voluntary and supplemental benefits?
- Are retirement plan participants taking advantage of available employer contributions?
- Do employees know where to turn when they have questions?
The opportunity: Make benefits education an ongoing conversation. Clear communication can improve employee engagement, help employees make better-informed choices, and reinforce the value of your investment.
4. Is Your Benefits Program Ready for 2027?
Year-end is an important checkpoint for reviewing benefits administration and compliance responsibilities.
Changes in contribution limits, reporting requirements, plan documents, and other regulations can affect employers and employees alike.
Depending on your organization's plans and circumstances, areas to review may include:
- Retirement plan contribution limits and employer contributions
- Health Savings Account (HSA) and Flexible Spending Account (FSA) limits
- Applicable ACA reporting and compliance obligations
- Required employee notices and plan documentation
- Benefits eligibility and administrative procedures
The opportunity: Address potential issues proactively rather than reacting to them later. Working with knowledgeable benefits professionals can help you stay informed and better prepared for the year ahead.
5. Are Your Benefits Supporting Your Long-Term Business Goals?
Employee benefits are more than a line item in your operating budget. They're an important part of your overall business strategy. The right program can help support employee satisfaction, strengthen retention efforts, and reinforce your organization's commitment to its people.
As you evaluate your 2027 priorities, consider how your benefits strategy fits into the bigger picture. Are you planning to grow your workforce? Compete for specialized talent? Improve employee retention? Manage expenses more efficiently? Your benefits program should evolve alongside your business.
The opportunity: Move from making annual benefits decisions to building a long-term strategy that supports both your people and your organization's financial objectives.
Make 2027 the Year Your Benefits Work Smarter
The end of the year is more than a deadline. It's an opportunity to evaluate what's working, identify gaps, and prepare for what's next.
At Edelman Wealth Management Group, we understand that every business has unique challenges, goals, and employees. Our Employee Benefits team works with employers to evaluate their options, navigate complex decisions, and develop benefits strategies aligned with their business needs.
Because a better benefits strategy isn't just about what you offer. It's about the value you create.
Let's Plan for a Strong 2027
Whether you're looking to manage costs, enhance your offerings, or take a more strategic approach to employee benefits, we're here to help.
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This article is intended for general informational purposes only. Benefits requirements, contribution limits, and regulatory obligations vary by plan and employer circumstances. Consult qualified benefits, tax, or legal professionals regarding your specific situation.
Contact Melanie Tumolo at melanie@ewmginc.com for more information or if you have any questions!
If you have any life changes or updates to your benefits that you need us to address (I.e., address change, marriage, the birth of a child, loss of coverage, etc.) please do not hesitate to contact us at 215-579-5601 or email us at info@ewmginc.com.
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