Employees Feel Unprepared During Open Enrollment Season, Survey Shows
As open enrollment season begins, a survey conducted by BenefitHub reveals that many employees are feeling rushed, uncertain, and underinformed when selecting their benefits. Nearly 80% of the nearly 13,000 surveyed workers spend an hour or less choosing coverage, with fewer than one-third confident in how well their selected benefits protect them financially. The survey highlights a growing comprehension gap among employees who are increasingly anxious about medical costs and financial setbacks due to potential income disruptions. Over three-quarters of respondents worry about out-of-pocket healthcare expenses, while 73% fear being unable to pay bills if they cannot work for an extended period. BenefitHub's CEO emphasizes the need for clearer communication from employers during open enrollment. The findings suggest that open enrollment is no longer just a routine administrative task but has evolved into a key opportunity for improving employee financial wellness and engagement. The report calls on HR leaders to prioritize benefits literacy, offering year-round education and simpler plan comparisons to help employees make informed decisions.
Topics: employee benefits financial anxiety open enrollment workplace well-being