Dive Brief:
- More than half of health plan consumers (56%) spend less than 30 minutes researching their benefits options, according to a recent Aflac survey.
- The lack of research leads many people to base a quick decision on premiums, without understanding their true out-of-pocket costs or their provider networks.
- "People are reluctant to get deep into the weeds when it comes to healthcare, but a greater investment of time would be absolutely worthwhile,” Matthew Owenby, chief human resources officer at Aflac, told TheStreet.
Dive Insight:
Many of the survey participants said they would choose unpleasant chores over researching their benefits: 38% would prefer to clean out their email inbox; 23% would prefer to clean their toilet; 21% would prefer to pull weeds; 18% would prefer to do their taxes; and 12% would prefer to have a dental cavity filled.
While the responses are likely tongue-in-cheek, they make a point.
According to Aflac's report on 2015 workforce benefits and enrollment trends, employees have high expectations for their online enrollment experience and are looking for more support and decision-making tools because of their increased share of healthcare costs and many don't understand the details of their plans.
Among the survey's findings: more than half (52%) of those who selected high-deductible plans said they regretted it, and almost half (48%) said they did not actually understand how a high-deductible plan works.