Benefits literacy is low. But the solution isn't more education, it's better technology to connect with employees in the time of need. Employees don't want to learn more about their benefits, they just need to be able to access them and then know how to use them. Our fully integrated decision support tool, takes the fear and confusion out of selecting benefits. Our decision support tool walks the employee through a visually engaging series of questions to aid in selecting the best plans for their needs. It asks the questions that your employees don’t know to ask themselves, educating them to make a decision that suits their unique lifestyle and situation. A simple, easy-to-use tool, provides employees with a holistic, strategic recommendation that takes into account their financial, physical and emotional needs. The ultimate goal is to give your employees the confidence they need to make benefits decisions.

Decision Support

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Who Used Decision Support

Literacy and Understanding

Users by generation:

Users by annual income level:

Users by gender:

Gen Z: 16% Millennials: 42% Gen X: 31% Boomers: 11%

$0-$30k: 3% $31k-$50k: 26% $51k-$80k: 28% $81k-$100k: 13% $101k+: 29%

Women: 44% Men: 55% NB: <1%

Those who self-report as being a “benefits pro” are likely more confident and savvy when it comes to managing their health and enrolling in/adopting resources to help them offset financial risk, maintain a healthy lifestyle, or manage their wellbeing.

Health and Risk Assessment

We ask respondents to describe their overall health, risk level/lifestyle, tobacco usage, RX usage, and family history.

Financial Preparedness

Influence on Enrollment

People are mindful of their finances, but still struggle to connect the dots between financial security and their benefits.

Without decision support, these types of benefits often go underutilized (or worse, not used at all).

Decision support tool affect on enrollment:

of respondents say they are confused about their benefits

“Pros” tend to be on fewer RXs

84%

Health literacy is trending down, up +3 points from 2022:

50% say they know where their ID cards are 34% say they are totally confused 16% feel they are “a pro” at benefits

“Pros” also tend to self-ID as being healthy (61%)

"Pros" also tend to earn more money

30% are on none, 36% are on one.

38% make $100K or more, 22% earn between 30-50K.

however, over half of respondents of all literacy levels report themselves as healthy.

60% describe themselves as healthy

However the definition of “healthy” may be subjective 39% are on at least 1 RX; 22% are on 2 or more RX 49% said they have a family history of health issues 47% of those who say they’re “healthy” are somewhat knowledgeable about their benefit

Millennials and Gen Z are most likely to report themselves as “healthy” while Gen Z and Boomers are more likely to report themselves as “below average” health

39% Golfer 29% Lounger 30% Biker 2% Rock Climber

2/3 describe their lifestyle as low risk

Of those who self-report themselves as “healthy”, 43% make over $80K; 45% make $30-70k.

$100K+ Earners

21% Rock Climber 30% Biker

Lower earners appear to be either very cautious or very risky

23% Lounger 22% Rock Climber

Higher earners tend to lead riskier lifestyles

$30K-$40k Earners

56% of respondents said they can "sometimes" save 30% always save 14% aren't able to save at all ("never")

A majority of respondents are savers

47% would feel panicked 43% could do it but prefer not to

Many are averse to large expenses, both emotionally and financially

54% said they would prefer to pay more later

indicating they want to have a lower monthly expenditure

While averse to spending money, 62% say they have cash savings set aside for large unexpected expenses.

92% said they would pay for an unexpected expense w/ cash savings 1% would dip into retirement 8% debt or don't know

Of those with a full umbrella rainy day fund:

Over 3/4 of respondents (86%) say they do not have any life events planned for the upcoming year.

66% said they always save 32% said they sometimes save 2% never save

Of those with a full umbrella rainy day fund:

Employees who enrolled in an HDHP and an HSA:

Businessolver data shows that of the clients who offer some of the most perceived empathetic benefits – like Accident, Critical Illness, ID theft, and HSA/FSA – decision support drives participation of these benefits.

71% of Businessolver clients offer Accident Insurance

67% of Businessolver clients offer Critical Illness

40% of Businessolver clients offer an identity theft plan

Average Health: 40% make over $80k; 49% make $30-70k Below Average Health: 42% make over $80k; 46% make $30-70k

Bikers and Golfers tend to be the top-reported risk level for those who earn $100K+

Low-mid-range earners ($30k-50k) tend to be a split mix of high-risk (rock climber) and no-risk (lounger) lifestyles.

22%

19%

67%

Who used decision support

Benefits Confusion by Generation

We ask respondents to describe their overall health, risk level/lifestyle, tobacco usage, RX usage, and family history.

Decision support helps employees make right-fit choices for their financial and holistic wellbeing

Employees are nearly 2 times as likely to elect voluntary benefits alongside medical when they have personalized decision support at enrollment.