According to a recent report from Morgan Stanley, 96% of HR leaders and 89% of employees feel that their company needs to do a better job educating employees about their benefits and coverage. This will help employees maximize their financial benefits and make the most of their group plans.
Without this ongoing education or guidance, critical resources will be overlooked, underutilized, and underappreciated.
Additionally, a recent Mental Health America (MHA) report concluded that only 28% of employees “strongly agree” that their employer does a good job of educating them about their benefits and how to use them. On the other hand, only 32% of employers say that tailoring benefits communication and enrollment for employees is “very important” or “extremely important.” Based on these figures, we can clearly see that there is a level of disconnect between what employees would like to know and what employers think they are telling them.
Third-party administrators (TPAs) can help employers with every aspect of their benefits administration. This includes providing guidance and customer service to employees so that they can best optimize their group coverage, including ancillary benefits.
CoPower is a TPA that can help employers with every aspect of their benefits administration. This includes providing guidance and customer service to employees so that they can best optimize their group coverage, including ancillary benefits. Plus, CoPower provides consolidated administration in the ancillary space and corporate benefits to over 6,000 employer groups and 250,000 employees and their families.
For more information, contact us today!