Providing personal benefits counseling for workers during enrollment can help employees understand what their plans cover, according to a recent survey by a leading life insurance company.
An impressive 97 percent of respondents said they had a better understanding of their benefits following counseling, with 44 percent of those saying it significantly improved their grasp of how their package works. In addition, 98 percent said the experience made them believe it is important for employers to fully explain benefits coverage before enrollment.
Organizations across the country may be in need of employee counseling, as previous research found most employer's don't think their workers understand their benefits. Less than 19 percent of employers believe their employees are properly informed about their benefits, while 5 percent said they believe their workers had no idea what their policies entail.
It is more important than ever for employees to understand their benefits so they can be financially secure, as USA Today reports that Americans can no longer rely on social security to see them through retirement. While benefits vary by company, they can include health insurance, life insurance and other investment opportunities.