Despite more than 90 percent of companies
having Internet access for their employees, only half of the employees from
companies responding to a recent WorldatWork e-mail survey have direct Web access
to their insurance carriers. The Online Benefits Communications and Services
Survey questioned 387 companies on their online capabilities in the area of
employee benefits.
According to the survey, exactly
50 percent of responding companies provide direct access to insurance carriers
via the Web, and only 26 percent have open enrollment capabilities online. Online
prescription drug services also have not spread very widely among companies,
as only 23 percent of respondents provide them.
The survey did find that 16 percent
of companies, or their insurance carriers, accept "e-signatures" on their insurance
forms. Also, 11 percent of companies track major life events that may effect
the insurance needs of employees.
Of the information companies provide
employees online, 45 percent provide summary plan descriptions, 48 percent provide
employee benefit summaries, 73 percent provide investment performance information
and 60 percent allow 401(k) changes.
Question
1: Do you have employee Internet access?
Yes
No
92%
8%
Question
2: If no, is your company considering employee Internet access?
Yes
No
65%
35%
Question
3: Does your company have any of the following?
Yes
No
Corporate Web Site
97%
3%
Intranet
84%
16%
Extranet
34%
66%
Average
72%
28%
Question
4: Do your employees have direct access (via the Web) to your insurance
carriers?
Yes
No
50%
50%
Question
5: Do you offer on-line open enrollment?
Yes
No
26%
74%
Question
6: Do you or your carrier track major life events?
Yes
No
11%
89%
Question
7: Do your insurance carriers accept E-Signatures?
Yes
No
16%
84%
Question
8: Does your company offer on-line perscription drug services?
Yes
No
23%
77%
Question
9: Do you offer any of the following items to employees on-line?
Yes
No
Summary Plan Descriptions
45%
55%
Employee Benefit Summaries
48%
52%
Personal Data Changes
29%
71%
Investment Performance Information
73%
27%
Access to Financial Planning
Data
46%
54%
Access to Investment Advice
32%
68%
Company Newsletters
61%
39%
Provider Directories
65%
35%
401(k) Changes
60%
40%
Family Status Changes
18%
82%
Links to Other Resources
57%
43%
Average
49%
51%
Question 10: If you offer
on-line retirement information, do you feel this has enhanced you employee
involvement in planning for their financial future?
Yes
No
80%
20%
Question 11: Since implementing
on-line benefits enrollment/information do you feel that any of the following
have occurred?
