While most U.S. workers are free to make changes during their company's annual employee benefits enrollment program, many keep the same choices year after year, or don't even actively enroll at all, says a new study.
According to MetLife's Benefits Election Poll, released Oct. 15, one in five workers who had the opportunity to participate in a benefits enrollment last year failed to act and defaulted to either their prior year's choices or their employer's default choices.
When polled, employees said their "dream benefits" package would consist of free or affordable medical coverage, followed by dental, vision and a 401(k) retirement plan. These benefits were cited ahead of more vacation time and gym memberships. Other "dream" benefits cited included life insurance, auto insurance, homeowners insurance and disability insurance.
Researchers also found out that 24 percent of the men and 12 percent of the women polled in the survey indicated that they had failed to participate in the company's benefits program last year.
The poll also determined that 51 percent of respondents reported that they deliberately kept their choices the same, believing their personal needs were unchanged, even though industry research indicates that the more actively employees review benefits materials, the more likely they are to make changes.
The poll was conducted online September 28-30 and was fielded by GfK Roper Customer Research North America. The survey polled 523 full- and part-time workers across the nation who are age 18 and older.
Metropolitan Life Insurance Company is a subsidiary of MetLife, Inc., a provider of insurance, annuities and employee benefit programs.
-Jim McConville