It’s tough to get workers to participate in benefit programs that they don’t even know exist.
Seventy-one% of workers lack basic knowledge of standard benefit programs, as reported by a new study by the American Payroll Association (APA).
Low participation rates
The ASA study focused on workers knowledge of their company’s pre-tax benefits. While nearly three quarters of workers say they live paycheck to paycheck, and would like to stretch their current salaries –
• 52 percent don’t participate in available flex spending accounts (and 6 percent of had never even heard of an FSA)
• 17 percent didn’t know their corporation offered a health savings account or health reimbursement arrangement (46 percent of those aware of the benefit still don’t participate), and
• 18 percent are unaware of existing transportation benefits or subsidies their company offers.
Corporate Wellness Companies