Rapid City, South Dakota

Open Enrollment Doesn't Have to Be Chaos

Most employees spend 17 minutes choosing benefits they don't understand — and pay for it with $8,000+ in missed savings every year. Here's how South Dakota employers are fixing that.

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The Problem

Employees Are Guessing. Employers Are Paying for It.

Open enrollment is supposed to be a benefit. For most employees, it's a confusing ordeal that ends with bad decisions and wasted money.

According to LIMRA, the average employee spends just 17 minutes choosing their benefits — and that 17 minutes has real consequences. MetLife's research found that 83% of employees don't understand their benefits options. They skip FSA contributions, leave 401(k) match money on the table, choose the wrong health plan for their situation, and never touch the HSA that's sitting there earning them tax-free interest.

For employers, the downstream effects are worse: confused employees = higher HR support tickets, more benefits waste, and frustrated workers who don't feel their employer is looking out for them. Benefits you're paying for aren't being used. The people who could benefit most from financial stability are the ones getting the least out of what you offer.

17 min

average time employees spend choosing benefits (LIMRA)

83%

of employees who don't understand their benefits options (MetLife)

$8K+

in missed annual savings for employees who don't optimize benefits

The Solution

FundWise's "Understanding Your Benefits" Module

Module 1 of the FundWise curriculum is called "Understanding Your Benefits" — and it's designed specifically to solve the open enrollment problem. It's not a benefits broker pitching products. It's an AFC® (Accredited Financial Counselor) giving your employees the financial literacy they need to make smart decisions.

Group format means every employee gets the same foundation. In-person sessions in the Black Hills or live Zoom for employers statewide.

Health Plan Comparison

HMO vs. PPO vs. HDHP — what each actually costs over a year, which saves money for which situations, and how to choose without guessing.

HSA & FSA Optimization

How HSA triple-tax advantage works, what FSA "use it or lose it" really means, and why most employees are leaving thousands on the table.

401(k) Match Enrollment

What "employer match" actually means in dollar terms, why enrollment timing matters, and how missing the window costs thousands.

Pay Stub Literacy

What deductions actually mean, how to read a pay stub, and why understanding it reduces financial stress — and support tickets for HR.

Voluntary Benefits Overview

Life insurance, disability, accident coverage — what actually matters, what costs too much, and how to evaluate the options presented at enrollment.

Group Format, Local Facilitator

Led by an AFC®, not a benefits broker. Available in-person (Black Hills) or live Zoom. Every employee gets the same foundation.

Timing

When to Bring FundWise In

Open enrollment education works best when scheduled 4–6 weeks before your enrollment window opens. That gives employees time to absorb the information, ask questions, and actually use what they learned when it matters.

But FundWise isn't just an open enrollment tool. It's year-round financial education. Open enrollment is the hook — ongoing financial wellness is the outcome. Employees who understand their benefits in October make better decisions all year, not just during enrollment season.

Open Enrollment Season

4–6 weeks before your enrollment window. Focused "Understanding Your Benefits" session so employees go in informed. Timing is everything — give them context before the decision deadline.

Year-Round Program

Quarterly or monthly sessions covering debt, budgeting, emergency funds, and retirement. The enrollment session is just one touchpoint in a broader financial wellness relationship. See the full curriculum →

Industries

Who Benefits Most from Open Enrollment Education

Construction

Hourly workers are especially confused by benefits — complex plan options, high-deductible plans, HSA vs. traditional, 401(k) enrollment. Many skip enrollment entirely because it feels overwhelming. FundWise breaks it down in plain language. See industry page →

Healthcare

Benefits-rich environments that go heavily underutilized. Healthcare employees often have multiple plan options, FSA/HSA accounts, and retirement vehicles they barely understand. Better benefits literacy = better enrollment decisions. See industry page →

Retail

Part-time and seasonal workers often skip enrollment entirely because they assume it's not worth it — or they don't understand what's available. An enrollment education session ensures no one falls through the cracks. See industry page →

Frequently Asked Questions

Can small businesses offer financial wellness benefits?

Yes. FundWise is built for businesses with 5–50 employees. There's a flat annual fee — no per-head costs, no surprise charges. Small businesses can offer the same quality financial education as large employers, just on a smaller scale.

When should I schedule open enrollment education?

Ideally 4–6 weeks before your enrollment window opens. That gives employees time to absorb the information before they have to make decisions. FundWise can run a targeted benefits literacy session timed to your specific enrollment schedule — contact us and we'll coordinate.

What does an open enrollment education session cover?

The session covers health plan comparison (HMO vs. PPO vs. HDHP), HSA and FSA basics and optimization, 401(k) matching and enrollment timing, voluntary benefits overview, and pay stub literacy. Employees leave understanding exactly what they're signing up for — and why it matters.

Is FundWise available outside the Rapid City area?

In-person sessions are available in the Rapid City / Black Hills area. Employers across South Dakota can access FundWise via live Zoom — every bit as interactive, just from a screen. We've worked with employers in Sioux Falls, Aberdeen, and Pierre via remote sessions.