Let’s be honest—employee benefits often get put on autopilot. You finalize your offerings at open enrollment, communicate the changes, and then… you move on. But here’s the thing: the business doesn’t stand still, and neither do your employees’ needs.
That’s why a mid-year benefit plan review isn’t just helpful—it’s essential. Think of it as a performance check on one of your biggest investments: your people.
Why a Mid-Year Review Actually Matters
If you’re only looking at your benefits once a year, you’re missing real-time insight and real-time opportunities. A mid-year review gives HR leaders the chance to catch small issues before they turn into big problems—and sometimes, to completely reframe how benefits are working for the company.
- Spot overspending before it wrecks the budget
- Find underused or misaligned benefits
- Give you time to renegotiate with vendors or switch gears before Q4
- Align your benefits strategy with what’s happening in the actual business
Common Problems You’ll Probably Find (And How to Fix Them)
Rising Healthcare Costs That Snuck Up on You
Medical and pharmacy claims can spike mid-year, and it often takes HR by surprise.
Fix: It’s not always about slashing coverage. You can look into things like wellness incentives, reviewing high-cost claims, or offering more flexible plan tiers to spread risk.
Employees Aren’t Using Their Benefits
It’s frustrating but common—your team isn’t taking advantage of what you’ve offered.
Fix: Maybe the benefits aren’t relevant anymore. Or maybe people just don’t understand them. Use a short survey or host a focus group, then refresh your internal communications or roll out a benefits explainer tool.
Your Benefits Don’t Stack Up Against Competitors
This one stings: a candidate tells you they got a better benefits package somewhere else.
Fix: Use benchmarking data. Are others offering fertility support? Mental health stipends? Student loan help? If you’re behind, a mid-year review is your chance to catch up before your next recruitment push.
You Might Be Sitting on a Compliance Risk
Let’s face it—between ACA, COBRA, HIPAA, and ERISA, compliance is a maze.
Fix: Do a mini-audit with your legal or benefits broker. Make sure your documentation, notices, and filings are where they need to be. Fixing it now is a lot cheaper than a penalty later.
To ensure your retirement plans meet current compliance standards, refer to the IRS’s Operational Compliance List, which outlines recent changes and requirements.
What to Look at in the Review
Don’t just skim the numbers—go deeper. Here’s where your focus should be:
- Cost breakdowns by benefit type (medical, dental, etc.)
- Employee engagement and usage rates (not just enrollment)
- Performance of vendors and brokers (are they delivering?)
- Changes in workforce demographics (have your needs shifted?)
How a Mid-Year Review Pays Off Big
Strategic Alignment
Your benefits start supporting the real needs of your business. That could mean focusing more on family benefits, financial wellness, or hybrid-work perks—whatever your team actually values.
Better Retention and Engagement
When employees see that leadership is adjusting benefits mid-year based on feedback or usage? That builds trust.
Smarter Spending
If something’s not working, you find out now—not after you’ve renewed another 12-month contract.
A Smoother Open Enrollment
You walk into Q4 knowing what needs to change. No scrambling. No guesswork.
Tips to Run a Strong Mid-Year Review
This doesn’t have to be a huge lift. Here’s how to do it well:
- Pull your claims data and enrollment trends—your broker can help
- Set up a cross-functional team—include HR, finance, and maybe ops
- Benchmark against industry peers to see where you stand
- Talk to employees—quick polls or HR office hours go a long way
- Communicate openly—even if you’re not making big changes, people want to know you’re paying attention
Don’t Wait for December
The best HR teams don’t treat benefits like a once-a-year project. They treat them like a living part of the business strategy. Mid-year reviews help you stay agile, responsive, and—most importantly—human-centered.
So instead of reacting at year-end, act now. Review what’s working, fix what’s not, and make sure your benefits actually benefit the people you hired them for.
Want to improve how your employee benefits strategy? Check out our article on How to Refresh Your Employee Benefits Strategy/.