Choosing the right benefits decision support tool can make all the difference for open enrollment season. With rising healthcare costs and increasing complexity in benefits offerings, there is a need for smarter solutions that deliver better outcomes, for both employees and the bottom line.

Data-driven decision guidance stands out from traditional tools by providing personalized, actionable recommendations based on each employee’s real-life situation. But not all platforms that claim to be “data-driven” actually deliver.

Below is a handy checklist for evaluating whether a benefits decision support solution is truly equipped to guide employees toward better choices, plus some information on SelectSmart from SAVVI Financial:

1. Uses Robust Financial Modeling

Look for a solution that can simulate real-life scenarios, comparing total costs across plan options, not just premiums. Employees need help seeing how different plans stack up when factoring in deductibles, copays, out-of-pocket maximums, and employer contributions.

SelectSmart's Advantage: SelectSmart uses sophisticated modeling that calculates total cost of care and out-of-pocket risk across multiple scenarios, helping employees avoid costly surprises and choose with confidence.

2. Delivers Tax-Smart Recommendations

Healthcare and benefits decisions have direct tax implications, yet many tools overlook this crucial piece. A truly data-driven solution should recommend options like HSAs or FSAs when they make sense, and show the tax advantages clearly.

SelectSmart's Advantage: SelectSmart automatically incorporates tax impact into its guidance, helping employees optimize savings and reduce taxable income wherever possible.

3. Considers the Whole Household

Most employees aren’t just choosing for themselves. Their decisions often affect spouses, children, and dependents. Look for tools that evaluate household dynamics, not just individual preferences.

SelectSmart's Advantage: By factoring in household size, income levels, medical usage, and even spousal coverage, SelectSmart gives employees recommendations that align with their family’s needs, not just their own.

4. Offers Holistic Benefit and Financial Planning

It’s not just about picking the right health plan. Today’s employees want help making sense of their entire benefits package, from retirement contributions and life insurance to emergency savings and wellness incentives.

SelectSmart's Advantage: SelectSmart doesn’t stop at medical benefits. It provides integrated guidance on how to allocate benefit dollars across multiple categories, offering insights that tie benefits to broader financial goals.

5. Personalizes the Experience Using Employee Data

Generic suggestions won’t cut it. Real decision guidance should be built on data: demographics, income, usage patterns, financial goals, and even risk tolerance.

SelectSmart's Advantage: With just a few data points, SelectSmart tailors guidance to each user, making the experience feel personal, relevant, and actionable, without overwhelming them with complexity.

6. Supports Year-Round Decision-Making

Great enrollment support shouldn’t vanish after open enrollment ends. The right platform should offer ongoing tools to help employees navigate benefits, adjust savings goals, and respond to life events.

SelectSmart's Advantage: SelectSmart is a decision engine that stays active all year. Employees can revisit their plan, adjust contributions, and get support through key financial moments, not just once a year.

7. Drives Engagement and Informed Action

It’s not enough to show options. The best tools guide employees toward the best-fit choices, nudging them to take action and explaining the “why” behind each recommendation.

SelectSmart's Advantage: By simplifying complexity and clearly presenting the impact of each choice, SelectSmart empowers users to take informed action, not just click through options.

8. Delivers Measurable Results

A true decision support solution should have a proven track record of improving outcomes, from increased HDHP adoption and HSA utilization to higher employee satisfaction and reduced employer costs.

SelectSmart's Advantage: SelectSmart has helped employers reduce healthcare spending, increase plan alignment with employee needs, and improve benefits satisfaction across diverse workforces.

As open enrollment approaches, it’s more important than ever to equip employees with tools that do more than compare plans.  SelectSmart delivers and we are ready to bring smarter benefits decisions to your workforce. Contact us to learn more about how we can support your strategic planning efforts. Click here to schedule a 30 minute chat. Or simply call 781-583-7017 or email at sales@savvifi.com.