As open enrollment season approaches, employees face the daunting task of selecting benefits that will impact their health and financial well-being for the year ahead. While these choices are significant, many employees struggle to feel confident in their decisions, often feeling overwhelmed by the complexity of their options. The result? Employees either stick with the same plans year after year without considering better alternatives or, worse, make selections that don’t fully meet their needs.
“Employees often face decision fatigue with the growing number of benefits options available.”
In fact, according to the 2024 State of Employee Benefits Report put out by Benefit Focus, 70% of employees want more help from their employers to better understand the benefits available to them. Despite the growing range of benefits options—from health plans to supplemental coverage—employees often lack the clarity and confidence to make informed decisions. And without proper guidance, they may overlook essential protections or overpay for coverage that doesn’t suit their circumstances.
“70% of employees want more help understanding their benefits choices.”
The Confidence Gap in Benefits Decision-Making
Why does this lack of confidence persist? For many employees, the sheer volume of options during open enrollment creates what’s known as decision fatigue. According to the State of Employee Benefits Report, 76% of workers spend less than 30 minutes reviewing their benefits before enrolling, with 72% making no changes from the previous year. This highlights a critical gap in both education and decision support, as employees often don’t have the time or resources to fully evaluate their options.
This confidence gap can have long-term consequences. Employees who don’t feel equipped to make the right choices may end up underinsured, overpaying for unnecessary coverage, or missing out on important supplemental benefits like disability or critical illness insurance. For employers, this translates to underutilized benefits programs and lower employee satisfaction—a lose-lose situation for both parties.
How Benefits Education Transforms Employee Confidence
To close this gap, it’s essential that employees receive targeted, personalized education and decision support during the enrollment process. Employee benefits decision support tools provide employees with the clarity they need to make confident decisions. These tools simplify the complexity of the benefits landscape by offering personalized recommendations based on individual needs and circumstances.
When employees feel confident in their benefits choices, the results speak for themselves. Employers who provide personalized decision support tools see significantly higher participation in critical health plans like high-deductible health plans and health savings accounts. This not only improves employee satisfaction but also optimizes the company’s benefits spend by ensuring employees are enrolled in plans that truly meet their needs.
“Smarter benefits decisions aren’t just about open enrollment—they lead to better utilization throughout the year.”
HMCB: Empowering Employees with Confidence
A prime example of how effective decision support can build employee confidence is Help Me Choose Benefits (HMCB). In a case study with ConGlobal, a shipping and logistics company, HMCB’s personalized, AI-driven platform helped employees navigate their benefits with ease, all without requiring any personal data. This low-barrier approach allowed employees to complete the enrollment process in under four minutes, significantly reducing time spent while enhancing their confidence in their selections.
The results were impressive: participation in critical illness insurance increased by 11%, hospital indemnity enrollment rose by 9%, and supplemental life insurance saw a boost from 29% to 38% participation. These gains in participation directly correlate to the confidence employees felt in their decisions, thanks to the clear, personalized recommendations provided by HMCB.
By offering a seamless and supportive experience, HMCB helped ConGlobal employees feel empowered to make the best choices for themselves and their families, without the usual stress and confusion that often accompany open enrollment.
Confidence Drives Better Outcomes for Employees and Employers
The key takeaway for employers is this: when employees feel confident in their benefits choices, everyone wins. Confident employees are more likely to select the right plans, participate in voluntary benefits, and feel satisfied with their overall benefits experience. This confidence not only improves their financial and health security but also strengthens their engagement and loyalty to the company.
For employers, investing in personalized decision support tools like HMCB ensures that your employees are equipped to make informed, confident decisions. As open enrollment approaches, consider how you can better support your workforce in navigating the complex benefits landscape. By providing the tools and education employees need, you can transform open enrollment from a stressful period into a seamless, empowering experience that drives higher engagement and satisfaction across the board.
As open enrollment approaches, now is the time to ensure your employees feel confident and supported in making benefits decisions. Help Me Choose Benefits is designed to take the complexity out of this process with AI-driven, personalized recommendations that help your team select the right benefits quickly and easily—no personal data required. By empowering your workforce with the tools and education they need, you can boost engagement, improve satisfaction, and maximize the value of your benefits program. Take the first step toward a smoother, more successful open enrollment—schedule a demo with Help Me Choose Benefits today and see the difference it can make for your company and your employees.
