Whether we admit it or not, this question has crossed the mind of many a benefits professional — especially as most of us head into open enrollment season. After all, if employees don’t understand their health plan options and appropriate factors to consider in the selection, they could end up making a costly mistake.

Ensuring employees are well educated will not only help them make the right choice, but ultimately lead to increased engagement and productivity.

According to a recent HSA Bank survey of HR executives, only 10 percent were “very confident” their employees understood the choices they were making with health insurance. While 75 percent believed employees were “somewhat confident,” it’s hardly cause for cheer. Especially when that leaves 15 percent who were “not very confident or not at all confident.”

We can all agree, employees should be confident they are making the best choice for themselves and their families. This may require plan sponsors to better educate members around plan selection via enhanced communications, interactive tools, and maybe even good old-fashioned employee meetings.

For more information on engagement strategies to help your employees better understand their health plan choices, contact a member of the Chelko team.