Timeline and deadlines
To ensure a smooth renewal process, it’s important to adhere to the following timeline:
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Notice period: Level requires 60 days’ notice prior to the plan renewal date. If adequate notice is not provided, employers may be responsible for the remaining administrative fees for the current year or the upcoming year.
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Renewal conversations: You can initiate renewal discussions at any time, and open enrollment documentation along with renewal rates are typically available around August each year.
Dental/Vision suggested premium rate updates
Level provides suggested premium rates for employers. Here’s what you need to know:
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Self-funded plans: All Level plans are self-funded, which means that the premium rates are suggestions. Employers have the option to collect premiums from employees to offset the total cost of offering dental and vision plans.
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Estimated annual costs: Alongside suggested premium rates, Level also provides estimated annual costs. This estimate is based on the projected versus actual claim spend throughout the year. If actual spending exceeds projections, the estimated cost for renewal will be higher.
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Cost variability: Please note that the estimated annual cost is not fixed. It is subject to change based on actual claims throughout the benefit year.
Administrative fee updates
Level may update administrative fees at the time of renewal. We will ensure to provide you with ample notice prior to the renewal about any changes to administrative and plan fees.
Renewing plan approval/review
Upon renewal, it's essential for employers to:
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Review the plan: Ensure the renewing plan is accurate and make any necessary updates to coverage.
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Contact for updates: If you wish to add or remove specific coverage options, please reach out to us at success@level.com.
Adding a plan to your benefit suite
Level offers a variety of plan types designed to meet employee needs and support your company culture and values. If you’re interested in adding a new plan to your benefit suite:
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Renewal period: Renewal time is an excellent opportunity to introduce a new plan, but you can request a new plan at any time.
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Contact us: For more information about additional Level plans, reach out to success@level.com or check out our Plans overview article.
Renewal enrollment
To ensure a seamless transition to the renewed plan:
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Review and update enrollment: Before the renewal date, review and/or update employee enrollments into the renewing plan. This helps Level provide uninterrupted service.
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Integrated systems: If you utilize an integrated HRIS/API system with Level, please ensure that the renewing plan ID is used for employee enrollments into the renewed plans.
Contact information for existing customers
For any assistance during the renewal period:
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Email: Reach out to success@level.com or your designated account manager.
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Phone Support: You can also contact our support team at 855-400-5705 if you prefer to speak directly with a team member.
Open enrollment
Open enrollment is the perfect time to review and communicate benefit offerings to your employees. Make sure to keep them informed about their options and any new plans added to your benefit suite.
By utilizing your employer dashboard effectively, you can manage your benefits smoothly and ensure that your employees are well taken care of. If you have any questions, don’t hesitate to reach out to our support team.