How many companies outsource benefits-related functions? Short answer: more and more. Two recent studies both demonstrate this dramatically. The third annual Guardian Workplace Benefits Study found that one-third of employers now outsource all of their benefits administration, a 65% increase since 2013.
According to the 2012 Open Enrollment Survey of the Aflac WorkForces Report, over half of employees make mistakes with their benefit elections, leading to $750 million in annual waste. In part, that’s due to a “perception gap:” half of employers believe they have communicated effectively with employees about their benefit programs. Try these tips to help employees elect the right options in your benefit program.