New Data Uncovers False Sense of Confidence Regarding Benefits Choices Among American Workers

October 9, 2017 | PRNewswire.com

76 Percent of Workers are Unsure about Health Coverage Specifics

COLUMBUS, Ga., Oct. 9, 2017 — Aflac … today announced results from two studies that analyzed the trends, attitudes and use of employee benefits among the U.S. workforce. The 2017 Aflac WorkForces Report (AWR) shows that American workers may feel more confident about benefits choices, while admitting a lack of understanding regarding the choices being made. A separate Aflac study found younger workers who may be making benefits decisions for the first time also lack knowledge of health insurance coverage but want to branch out and make independent benefits decisions.

American Workers May Have a False Sense of Confidence
Benefits enrollment findings from the 2017 Aflac WorkForces Report, a national online survey of 5,000 U.S. workers, conducted between Jan. 26 and Feb. 17, 2017, by Lightspeed GMI and released by Aflac, found that more than half (55 percent) of American workers who receive benefits from their employer agreed that completing their annual health benefits enrollment made them feel secure, like being tucked in at night, or accomplished, like they just finished a marathon. And 67 percent said they are confident they understood everything for which they signed up.

However, these results may indicate an underlying false sense of confidence. The survey also uncovered that 76 percent of workers are making benefits decisions without a complete knowledge of the overall plan. When asked specifically about understanding their overall policies, like deductibles, copays and providers in their network, only 24 percent of these workers could answer they understood everything. And this result has been on a steady decline since 2015, when nearly half (47 percent) believed they knew everything, and then down to 39 percent in 2016.

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