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Benefits Literacy Fail: Many Americans Don’t Know Anything About Their Benefits

Benefits Literacy Fail: Many Americans Don’t Know Anything About Their Benefits
Posted on Tuesday, October 30, 2018 by Businessolver Team
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Annual enrollment is often an indicator of how well we communicate throughout the year.  

benefits-literay-and-communication-techniquesIs your inbox full? How many unanswered voicemails do you have? Ping! There goes your instant messenger again! 

The high volume of questions HR pros get around annual enrollment is to be expected. After all, benefits literacy — the ability to understand and use one’s benefits to make good decisions — has always been low in America 

According to data collected through the Benefitsolver MyChoice decision support tool, 38 percent of adult employees under 29 years old claim to have “no benefits knowledge.” Even among those who are 60 years of age, as many as 21 percent claim to have “no benefits knowledge, despite several decades of exposure to the topic.  

But low grades are often the fault of the teacher, not the student. What do we, as HR professionals, have to learn here? Are we using the wrong textbook? Are we just not dedicating enough time to this? 

Watch our on-demand webinar, “Get Personal: Better benefits messaging for your multigenerational workforce.” You’ll hear from nationally recognized benefits communication specialists and learn: 

  • Why benefits literacy is an important part of the ROI for your benefits spend 
  • How to leverage AE data to drive positive change throughout the year    
  • The best timing and channels for educating employees  

Increasing benefits knowledge can help your employees make the right decisions when it comes to their benefit elections. Not only that, but the right selections (at the right place and at the right time) can save you, the employer, a lot on administrative fees overtime. School is officially in session! Listen to the webinar below to increase your employee’s benefits literacy.

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