Let’s face it, when employees compare their feelings shopping for health insurance to having a tooth filled or trying to figure out their own tax returns1, there’s no question they don’t view the healthcare decision-making process the same as their personal finances. This mindset often leads to uneducated decision making, opening the door to buyers regret.
The challenge doesn’t end there. When we add more sophisticated and lesser-known benefits into the equation, it’s easy to understand how employees tend to maintain status quo with their previous year selections. Sure, voluntary coverages like Disability Insurance, Critical Illness, Accident and Hospital Indemnity sound exciting to insurance insiders and the actuarial community, but to the rest of the 99% it’s more of the same – insurance jargon creating confusion and doubt.
Businessolver’s MyChoiceSM Recommendation Engine is built on our core beliefs that people don’t want to shop for benefits, too much choice is too much, the buying process for health insurance is irrational, and we need to consider more than just cost to make a meaningful recommendation. By identifying not only financial and physical needs of each employee, MyChoice is able to address the emotional side of the benefit selection process. This unique philosophy creates a personalized strategy for employees that helps drive decision-making.
For this reason, MyChoice is expanding beyond core healthcare recommendations to include the full suite of benefits being offered, including voluntary, life and other gap benefits. By making minor tweaks to the current MyChoice tool, employees are able to create a personalized benefits strategy without the hassle of added confusion.
Our goal is to ensure that your employees are looking at the full package of benefits they’re being offered by guiding them through a simple, easy to use process and providing a holistic, strategic recommendation. Ultimately, giving employees the confidence they need to make a decision that will fit their needs.