In a recent survey conducted by Research Now for Aflac, 56% of workers estimated they wasted up to $750 because of mistakes made with insurance benefits elections. In addition, 24% of workers said they chose the wrong level of insurance coverage or benefit options they didn’t need.7
Employers can provide personalized benefit coaching to make certain that their employees fully understand the choices they make and that they are maximizing their benefit from the program. This can be a monumental task if it is left to the inside benefits staff.
EOI’s personal benefit coaching provides a venue to engage employees on an individual basis and help them choose the plans that are right for them. Oftentimes, employers find that an important aspect of this coaching service may be to educate and migrate employees to a new high deductible or consumer-based program, which benefits both the employer and the employee. EOI can provide this service, saving your HR staff time without denting your budget.
Benefit coaching and employee education will be even more important given the requirements of the health care reform act and the new exchanges that will be a very important resource for many employees in their evaluation of benefits for themselves and their families.