Think about how a typical consumer buys their homeowner and auto policies. Do they gather together with their colleagues at work and listen to one sales rep from one company explain options just once a year during open enrollment?
Yet at the workplace, now more than ever, employees look to their employer to help them achieve financial security. And, there is a growing array of products being offered to meet that need; e.g., one or more health, dental and vision options; life and disability income plans; accident and critical illness coverage; long term care, and more.
I’ve been giving this a lot of thought in recent weeks. The annual lunchroom enrollment just isn’t working anymore! Employee benefits need to be far more strategic. At least, that’s the conclusion of last year’s MetLife Employee Benefit Trends Study. I find it very interesting. Maybe you will, too. Click here.
Perhaps the biggest takeaway is the need for communication and decision support.
Experts are calling that an “Active Enrollment.”