How much coverage is enough? Smart Benefits decisions to maximize value
February 1, 2022
Written by Marie O’Bonsawin
The right amount of benefits coverage is unique to each employee’s personal situation. When selecting benefits, employees can be confused or even overwhelmed while making these decisions and can end up with not enough coverage or the wrong coverage all together!
Employers are enhancing their benefits plans to provide flexibility to attract and retain top talent. It’s equally important that their employees choose the right coverage to protect themselves and their families.
Many variables, including financial and health obligations, need to be factored in when selecting benefits, but personalized recommendations are not something most employers can support. Some employees do not feel confident making these decisions on their own and would not be comfortable discussing their personal situation with their colleagues.
As part of the benefits enrollment process, it’s important to give employees access to intuitive decision support tools that consider the available benefit plan options and can provide tailored recommendations for the appropriate amount coverage. These tools educate the employee to make better choices which ensures coverage that is the best fit and more likely to be used and valued by the employee.
The FlexPlus DIRECT decision support tool is becoming increasingly popular with our clients and consultants to ensure employer and employee dollars are maximized and used to truly add value to their benefits experience.