According to the survey by the Colonial Life & Accident Insurance Company, 47% of employees say attending benefits counseling sessions significantly improved their understanding. Ninety-eight percent of employees believe having annual one-to-one benefits counseling sessions is important, with 63% saying it’s very important.
Employers spend a lot of money providing benefits for their employees, yet research shows the vast majority of them don’t think their employees really understand their benefits packages. Colonial Life said 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.
Results from the survey are based on an online post-enrollment poll of more than 15,000 employees conducted by Colonial Life & Accident Insurance Company since January 2010.