Thanksgiving Open Enrollment Tips

Table of Contents

1. Thanksgiving Open Enrollment Tips

2. Sequoia Investor Portal: Exec Comp Benchmarking for VCs

3. Happy Thanksgiving from the Cafieros!

🦃Thanksgiving Open Enrollment Tips

With Thanksgiving around the corner and Open Enrollment season in full swing, it’s worth pausing to appreciate the role benefits play in helping employees and their families feel supported and secure.

For early-stage companies, open enrollment is more than just a deadline - it’s an opportunity to show employees you’re (thoughtfully) invested in their wellbeing.

I remember when I enrolled in benefits during my first job out of college. It was like reading a different language. At the end of the day, I went with the cheapest plan possible because I didn’t know any better. Months later, I ended up at an out-of-network doctor (without realizing it) and paying far more than I should have. Tough break for a penny pinching 22 year old.

So you can avoid repeating my mistakes, Rebekah Willetts Cafiero (Senior Business Consultant at Sequoia & my wife!) breaks down how to make this process simpler and more impactful for everyone:

Essential Insurance Terms to Understand

• Deductible = The $ amount the employee is responsible for before insurance kicks in.

• Co-Insurance = the % amount of healthcare cost covered by insurance after the deductible is met.

• Co-Pay = A fixed $ amount for covered services, defined by the plan, for things like physicians & specialist visits or certain prescription drugs.

• Out of Pocket Maximum = The cap or limit you will pay for covered health services in the given plan year. The lower this amount, the richer the plan design!

Healthcare Plan Types to Understand

🏥 Health Insurance Plans

• PPO (Preferred Provider Organization) = *Higher cost, with both in & out of network coverage, which provides more flexibility for care. Anthem BCBS is an example of a PPO.

• HMO (Health Maintenance Organization) = *Lower cost, in-network only, with no coverage outside of their specific doctors, hospitals, or providers. Kaiser is an example of an HMO.

• HDHP (High Deductible Health Plan) = *Lowest cost, high deductibles, which means more up front costs to the employee when they use healthcare. Enrollees are eligible for an HSA (Health Savings Account) which you can learn more about in a previous Back Office article here.

_{*Usually the case.}

🦷👓️Dental & Vision Coverage

• Dental = Cleanings, X-rays, basic procedures. Richer plans cover Orthodontia (think braces and teeth straightening) for adult and/or children.

• Vision = Eye exams, glasses, contacts.

Emerging Wellbeing Benefits

✨ Fertility & Family Care

• Egg freezing, adoption assistance, or parental leave coverage like Carrot.

✨ Mental Health Support

• Therapy, counseling, or mindfulness apps like Headspace or Spring Health.

✨ Family Flexibility

• Childcare stipends, elder care resources, flexible hours, or care-on-demand like Urban Sitter.

Guidance for First-Time Enrollees

• Assess your needs: Are you healthy? Planning major life changes?

• Understand costs: Premiums, deductibles, copays, and HSA contributions - know the difference.

• Ask questions: Your HR team and their benefits broker/PEO should provide excellent resources to ensure a smooth enrollment experience. (i.e. Sequoia offers Employee Advocate support pus support through with Nayya for guidance during OE)

Why This Matters: Open enrollment is a chance for companies to show appreciation for their teams through thoughtful, inclusive benefits.

For employees, understanding benefits means making choices that protect their families in meaningful ways. It’s about setting everyone up for a better year ahead. That’s something to be thankful for!

If you’d like a free benefits benchmarking & consultation meeting, connect with Rebekah by clicking the button below:

🗣️ Sequoia Investor Portal: Exec Comp Benchmarking for VCs

I’m excited to share that our VC partners now have access to the Investor Portal, a new tool from Sequoia that further enhances the way we support the startup community. We’ve partnered with Carta to give them access to up-to-date compensation and equity market data. Paired with Sequoia’s comp and benefits advisors, the portal will help them guide executive comp decisions for their portcos

Coming up Tuesday, December 10th at 11:00am PST, we’re offering an exclusive sneak peek into this new tool. WIth this tool, VCs can now:

• Review salary, bonus, and equity benchmarks

• Build total comp packages for executive teams

• Share market data with board members and execs

• Learn more how Sequoia can help support their portcos

• Join community conversations with comp experts 

Take a closer look: Check out the informational video by clicking the button below, or access the webinar by clicking the image above.

🐕️Happy Thanksgiving from the Cafieros!

Happy Thanksgiving from my furry family to yours!

Thank you for subscribing and joining this journey with me!

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_{The intent of this newsletter is to provide general information. This information/analysis does not necessarily fully address any specific legal issue or situation, and it should not be construed as, nor is it intended to provide, legal advice. Furthermore, this message does not establish any attorney-client relationship between any of readers with the author. Questions regarding specific issues should be addressed directly with your respective legal or tax counsel (or directly with the San Francisco Office of Labor Standards Enforcement).  ​
Sequoia makes no warranty, whether express or implied, that adherence to, or compliance with any recommendations or best practices will result in any particular outcome. Federal, state or local laws, regulations, standards or FAQ guidance is subject to change and the reader/listener should always refer to the most current requirements/regulations before taking any action.}

_{The views and opinions expressed by the author are their own and do not necessarily reflect the official policy or position of their employer. Any content provided by the author is of their opinion and the content is for informational purposes only and should not be construed as legal or financial advice.}