STUDY OF EMPLOYEE BENEFITS: 2006 & BEYOND - Prudential
STUDY OF EMPLOYEE BENEFITS: 2006 & BEYOND - Prudential
STUDY OF EMPLOYEE BENEFITS: 2006 & BEYOND - Prudential
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Most Plan Sponsors Do Not Require Carriers to “Step Up”<br />
to Assist with Benefits Education/Communication<br />
Often, benefits providers are experts at communicating all aspects of an employee<br />
benefit program. They should be well versed on all legal issues and have experienced<br />
associates able to provide effective written and verbal communications. While many<br />
plan sponsors may desire to customize or fine-tune the final materials, benefits<br />
providers should be able to create an effective foundation of information.<br />
However, among plan sponsors who are dissatisfied with their existing materials,<br />
most are not “highly interested” in obtaining assistance from benefits providers,<br />
especially for group life and disability plans. By comparison, 47% rely on providers<br />
for help communicating 401(k) plans. Yet fewer require the same provider assistance<br />
for disability, life, or long-term care insurance benefits.<br />
More effective communication may help employees better understand and appreciate<br />
the real value of these programs, as well as help educate employees about how these<br />
benefits can provide needed protection for themselves and their families.<br />
INTEREST IN CARRIER HELP WITH <strong>BENEFITS</strong> EDUCATION/COMMUNICATIONS<br />
AMONG EMPLOYERS WHO RATE THEIR EDUCATION/COMMUNICATION EFFORTS “INEFFECTIVE”<br />
74%<br />
71%<br />
65%<br />
57%<br />
67%<br />
53% Not highly interested<br />
(1–5 of 7 point scale)<br />
Highly interested<br />
(6–7 of 7 point scale)<br />
43%<br />
47%<br />
26%<br />
29%<br />
35%<br />
33%<br />
Disability<br />
Life<br />
LTC<br />
Medical<br />
Dental<br />
401k<br />
15