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How COVID-19 is impacting the way employees evaluate open enrollment and their benefits

Published: Oct. 20, 2020 at 4:58 PM CDT
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WAUSAU, Wis. (WSAW) - Open enrollment is coming up for millions of U.S. workers – but amid the COVID-19 pandemic, the way employees are evaluating their benefits has seen a dramatic shift as employees remain anxious about their own financial security.

In fact, a new MetLife survey shows employees are placing much greater importance on the benefits election process than they did last year, and many are expressing a newfound determination to improve their financial health. Additionally, given the influx of major life changes being precipitated by the pandemic, many workers are showing a notable shift in interest to specific benefits, as well as intentions to take more time reviewing their choices.

Survey highlights include:

• Nearly half of workers say open enrollment is more important this year than it was in 2019 – with two in three citing a COVID-19 reason, and one in three citing personal finance issues

• Three in four workers say there are specific benefits they’re more interested in this year

• 69% say improving their financial health is a big goal this year, and 45% say they feel insecure about some aspect of their finances

Meredith Ryan-Reid, Senior Vice President for Group Benefits at Metlife joined NewsChannel 7 at 4 to explain what people of all backgrounds and life stages should be thinking about when it comes to maximizing the value of their employee benefits.

For more information, visit https://www.metlife.com/OpenEnrollment/

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