Like most things benefits-related, it makes perfect sense to launch a new program at the start of a plan year. Many new clients adhere to that timeline with Rx Savings Solutions. Others opt for an “off-cycle” launch so their members and plan can reap the benefits as soon as possible.
In fact, launching mid-year or anytime other than Jan. 1 works just as well—sometimes better. Here’s why:
Less Stress – Open enrollment in advance of a new plan year is a crazy time for everyone involved in benefits. Launching off-cycle gives your HR and IT teams one less implementation to worry about during the traditional Q4 grind.
Focused Attention – Without all the communication “clutter” that happens during open enrollment, employees and plan members can get to know us with less competition for mindshare.
Maximized Early Engagement – Twice the promotion (during an off-cycle launch, and again at open enrollment) typically results in registration spikes. That means more sustained savings for members and the plan, sooner.
Our member engagement programs have proven effective no matter when a client chooses to launch. However, off-cycle launches do show a statistical engagement advantage across employer clients.When prospective clients are planning for the coming year, we often hear this: “There’s no way we have time to make 1/1.” That may indeed be the case for one reason or another. But could it be we’re all just wired to a plan year mindset?
The way Rx Savings Solutions overlays the pharmacy benefit, implementation can take place at any time. Formularies, claims, plan designs and deductibles are automatically adjusted for, no matter when the calendar begins. The sooner the launch date, the faster members and the plan can build savings.
In other words, good things don’t come only to those who wait.
For more on off-cycle advantages,
check out the one-page PDF: