A recent survey by Voya Financial reveals that 77% of respondents plan to spend more time re-evaluating their benefit elections during open enrollment - signaling a shift toward more intentional benefits decision-making.

Beyond that, the research shows a growing alignment between finances and well-being: 63% of Americans now agree that their financial stability directly impacts their mental health, up from 57% just two years ago.

Key Findings & Trends

Increased Attention to Benefits Elections

The proportion of employees who intend to allocate more time for benefits review rose from 69% last year to 77% this year. This suggests workers are becoming more deliberate in how they choose health, retirement, and other offerings.

Mental Health & Financial Stability Connection

Voya’s survey indicates that more workers see their personal finances as closely tied to mental and emotional well-being. As economic pressures persist, the role of benefits in supporting financial health is gaining prominence.

Desire for Guided Tools & Education

The data also shows employees want help making decisions:

• Nearly half say personalized benefit recommendations would boost their confidence during open enrollment.

• Many favor support via interactive calculators, one-on-one HR consultations, or decision support tools to navigate benefit options.

Retirement Readiness Remains a Concern

Only 55% of workers reported feeling “very” or “somewhat” prepared for retirement, highlighting a major gap in financial confidence and long-term planning.

What This Means for Employers & HR

• Open Enrollment Becomes a Strategic Moment
  As employees commit more time, employers have a stronger chance to influence choices, reinforce employee benefits value, and position benefits as central to well-being.

• Need for Better Decision Support
  Tools like benefit recommendation engines, cost comparison visuals, and risk/coverage illustrations can help employees make informed choices and reduce decision fatigue.

• Communicate Year-Round, Not Just in October
  The mindset toward benefits is evolving - education and engagement should be continuous, not limited to open enrollment windows.

• Mental Health & Financial Wellness Programs Gain Relevance
  With more employees linking finances and mental health, employers that integrate benefits communication with wellness support may see improved morale, retention, and productivity.

• Tailor Messaging for Different Demographics
  Younger workers, those with families, or workers close to retirement will have different priorities. Segmenting communications can make benefits more relevant and actionable.

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