When it comes to their benefits, employees want more options so they can personalize their plans.

But, benefits are complex and there can be a disconnect between what employees really need and what they choose.

That’s because employees’ knowledge, state of mind and risk tolerance all factor into their decision-making.

In this white paper we leverage the answers of almost a half-million employees as they use Businessolver’s propriety decision-guidance tool: the MyChoice Recommendation Engine. By aggregating individual responses, we can take the pulse of the American workforce as they consider their benefits options during annual enrollment.

To provide employers insights into what employees are thinking as they choose benefits, this report explores several areas including:

• Generational differences in how well employees understand benefits

• The extent to which earnings impact how prepared people are for healthcare costs

• How risk and loss aversion color employees’ thinking about out-of-pocket spending