Workers Look To Increase Life Insurance And Educate Themselves Better On Benefits This Year

During this open enrollment season, multiple employee benefit providers anticipate workers will review their plans more carefully and increase their life insurance coverage.

One report says two-in-three workers will spend more time understanding their employee benefits this year, and 27 percent of workers plan to enroll for the first time or increase their life insurance.

Chris Schrader is the president of Schrader & Associates, a human resources company. He says it’s unsurprising that people are paying more attention to their benefits this year.

“What COVID-19 has done, is make people pay more attention to health, their personal health, in a way we have not seen in the United States for quite some time.”

He says though it shows people are stressed, ultimately, it is good that people are educating themselves more about their benefit plans.

Schrader adds that though people will spend more time thinking about their plans, that does not necessarily mean they will decide to make changes.