Oct 13, 2020
Thirty-seven percent of workers want more benefits information and guidance than usual during this year’s open enrollment season. They’re most interested in a benefits portal, a decision-making tool, and online brochures, according to a survey by the Employee Benefit Research Institute (EBRI) and Greenwald Research.
Just under half welcome advice from a third-party benefits advisor or online program. Ninety percent are likely to use a free online program that offers benefits advice.
Three in 10 employees take advantage of the benefits advice and education that their employer provides. Those who leverage this advice are more satisfied with their benefits and understand them more.
The Most Sought-After Benefits
Paul Fronstin of EBRI says that employees are most likely to consider health insurance when making employment decisions, followed by retirement plans. These benefits play a critical role in how employees view their financial security. He added that newer benefits are getting more popular including wellness programs, critical illness, cancer insurance, and financial wellness programs.
Employee Satisfaction
Fifty-four percent are satisfied with their health insurance plan. Consumers cite the following benefits as contributing a lot to their financial security:
- Nearly two-thirds cite health insurance
- 55% cite their retirement plan
- About 40% cite life insurance, financial wellness, and benefits, such as accident and critical illness insurance
- One-third cite disability insurance
Contact your LISI Regional Sales Manager for a complete package of enrollment tools and support.
