Employees Not Feeling Confident In Benefits Elections This Open Enrollment Period: MetLife

Just 56 percent of employees are highly confident they will select the right employee benefits during the annual benefits enrollment period in 2013, according to recent research from MetLife. The MetLife Benefits Election Poll also found that one in five workers who had the opportunity to participate in a benefits enrollment last year failed to act and defaulted to either the prior year’s choices or their employer’s default choices. Men (24 percent) were twice as likely as women (12 percent) to fail to actively enroll.

MetLife also founds the following:

• More than half (51 percent) of respondents reported that they deliberately kept their choices the same, believing their personal needs are unchanged. However, 43 percent of those who actively reviewed materials deliberately keep the same options, compared to 58 percent who only briefly reviewed them.

• The survey found that many workers do not realize the savings potential from workplace benefits, even if paid for by the employee. Sixty-eight percent of workers reported they would spend more time reviewing enrollment materials if they could save money by buying group insurance products.

• Nearly two-thirds of workers want a wider array of voluntary benefits to choose from even if they pay for the benefits themselves. According to MetLife, this finding means that employees recognize the value of having access to more benefits options regardless of who pays for them.

The survey includes responses from 523 workers ages 18 and older. For more information, visit http://www.metlife.com.

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