1 in 3 Workers Plans to Boost Benefits During Open Enrollment

During this open enrollment season, many workers are planning to choose new insurance benefits and increase their coverage due to COVID-19. A Unum survey of 1,500 full-time U.S. workers in October 2020 reveals new trends due to this year's pandemic:
Making Different Benefit Choices

• 36% plan to enroll in different benefits this year
• Workers plan to enroll for the first time or increase their coverage in life insurance (27%), short- and long-term disability insurance (12%), and other products
• 53% say they are likely to enroll in a high deductible health plan. This is despite the fact that 57% report financial stress or hardship, and 45% are finding it hard to pay for out-of-pocket medical costs 

Reviewing Benefits
Sixty-four percent of workers plan to spend more time reviewing and understanding their employee benefits. However, 88% will still spend 60 minutes or less reviewing their benefits before signing up. 

Facing Stresses 
Fifty percent of workers worry about their mental health. 

Going Virtual
More employers are offering virtual benefits education this year. According to 400 companies Unum surveyed in June, 42% will offer virtual video conferencing or co-browsing with a benefits counselor, up from 23% last year. In-person meetings with benefits counselors will drop from 49% in 2019 to 33% in 2020.

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