Survey: Health Insurance “Knowledge Gap” Is Wide and Employees Don’t Know Where To Turn When Choosing Health Insurance Options.

A survey conducted by The Harris Poll and commissioned by Justworks found that 72% of working adults choosing insurance want someone to tell them which health plan is best for them.

NEW YORK, Oga. 4, 2022 /PRNewswire/ — Just to doHR platform for small businesses, today announced an acquisition Health Insurance Information. The findings show that older Americans who are employed have different opinions when it comes to choosing benefits and that younger workers don’t know what their plans cover, a difference that can cost them.

Justworks (PRNewsfoto/Justworks)

This study, conducted by The Harris Poll, shows that many employed Americans do not understand the most important facts about health insurance despite the fact that many people claim to know a lot. The knowledge gap between US workers can also cause, among other things, the frustration that occurs during the registration process. With confusion surrounding key words like deductibles, as well as the services of Health Savings Accounts “HSAs,” and Flexible Spending Accounts “FSAs,” it’s no wonder that Americans who have insurance want others to help them make their enrollment decisions, and the benefits—or opinions about them. —can contribute significantly to why employees leave or look for work.

Knowledge Gap

While a majority of working Americans (82%) say they feel well informed about health insurance enrollment, including more than three-quarters (39%) who consider themselves knowledgeable, more than half (53%) do not feel knowledgeable. find out more about the health insurance options they have. The same number (54%) do not know all the benefits of their health insurance.

Health Insurance Information it shows us that there is a huge knowledge gap in understanding and great educational opportunities,” he said Elizabeth SklarManager, Research & Customer Insights at Just to do. Sklar continued, “With the current market conditions (inflation, wage tightening and recession) it’s more important than ever for employees to understand their benefits so they don’t miss out on potential savings.”

Young adults (18-34 years old (67%); 35-44 years old (71%)) are more likely to answer incorrectly or be unsure about some information about health insurance, especially the definition of the deductible; versus adults aged 45-64 (45-54 41%; 55-64 26%).

Recruited American adults don’t know who to turn to if they have questions and often fall back on choosing the same insurance each year, which can hinder employers’ efforts to increase enrollment by adding new plans or offering services at new rates. The main symptoms of cognitive disparity and low self-esteem are:

  • 72% of workers who participate in their health insurance decisions say they want someone to advise them on the best insurance for their unique situation.

  • 44% of US employers say they are uncomfortable asking HR representatives questions about health insurance enrollment.

  • 47% say they call friends or family for help when signing up for health insurance.

  • 62% of working Americans who participate in their health insurance choices say they don’t change their health insurance choices every year because they worry too much.

  • Almost half (49%) feel pressured to choose the most expensive insurance option to ensure they have the coverage they need.

Quality and Employee Retention

Considering today’s job market, understanding benefits is always important. Among working Americans, 66% say they are looking for a new job, or opening a new one. In some cases, the consideration of benefits outweighs the salary, since 78% of workers in the United States say that having health insurance that meets their needs is important to them when looking for a new job, and 64% say that they would be willing to give up some. pay good insurance, if they are looking for a new job. Additionally, nearly two-thirds (63%) say their company’s health insurance affects how much they want to stay there.

“It’s not just about what employers can offer, but how their employees engage with them,” Sklar said. “If employers can provide clear guidance and training to their employees about how to choose the best benefits strategy, employers will support their employees and increase their chances of retaining talent.”

Employees who are actively looking for or opening a new job (58%) are more likely to say they don’t feel they are getting the most out of the insurance options they have compared to their peers (44%), highlighting that. the results of benefit training and enrollment events that ensure that employees feel safe and valued.

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About Research

The survey was conducted online internally United States and The Harris Poll and commissioned by Justworks from June 9-13, 2022 of 2,021 US adults aged 18 and over including 1,040 respondents who were employed full or part time. For full research options, including weights and subgroup sizes, please contact us press@justworks.com.

About Justworks

Justworks is a cloud-based platform that provides small and medium-sized businesses access to benefits, payroll, human resources and follow-up support – all in one place. We drive greater economies of scale through collaborative operations, enabling our clients to reduce tangible costs, and provide greater value to their employees. We believe we are the first provider to combine this powerful combination with simple, intuitive technology and 24/7 expert support—helping entrepreneurs and businesses grow with confidence. For more information, visit Justworks.comFollow us on Twitter @Justworks and Instagram @Justworks_HR.

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