More than 9 in 10 employees who receive benefits counseling say they better understand their benefits, according to a new survey.
Colonial Life & Accident Insurance Company, Columbia, S.C., published this finding in a summary of results from an ongoing post-enrollment survey of 15,000 U.S. workers.
The survey shows that 96% who take part in individual benefits counseling sessions say they better understand their benefits. And 47% of the respondents say the benefits counseling sessions significantly improved their understanding.
The same survey shows 98% of employees believe having annual one-to-one benefits counseling sessions is important, with 63% saying it’s very important.
“Employers need to gain maximum value from the benefits they provide,” says Randy Horn, president & CEO of Colonial Life. “The investment made in providing a strong benefits package is lost if employees don’t understand and appreciate what they’re offered. These surveys show that personal counseling during a benefits enrollment session clearly enhances understanding, which is good news for employers and employees.”
Colonial Life adds that less than 19% of employers think their employees have a very good understanding of their benefits. And nearly 5% think their employees know nothing at all about their benefits.