In a recent ADP survey, 500 HR decision-makers estimated that only about 40% of their employees
understand their benefits, though 80% of the HR leaders said that it’s
important for employees to know how their benefits work. It’s hard to tell
which of these figures is more remarkable—though it’s not a stretch to believe that
nearly half of employees are thought to lack clarity about one of the most
important parts of their financial (and sometimes their medical) lives.
Benefits education couldn’t be more critical than it is now,
given the move toward “consumerism” in health benefits, such as high-deductible,
account-based consumer-directed health plans (CDHPs) (that’s a mouthful even
for benefits planners). Skyrocketing
healthcare costs and healthcare reform are driving a need for employees and their
benefits decision-makers at home to take on more responsibility for
understanding, navigating, and sharing more of the cost for increasingly
complex health coverage options and other benefits.
