Their innovation: Avila and McNeil created BenefitsTV — a series of videos posted to social media —after they couldn’t find any benefits content in video form. Since teaming up earlier this year, the two benefits advisers have created and posted more than 50 short videos for a YouTube and Instagram channel. The videos explain to both employers and employees a myriad of topics, such as what an annual group medical deductible is, payment options at the pharmacy, health savings account contributions and workplace culture. Now, some employers are asking the two to provide custom videos for their internal use.
Why it matters: The majority of employees have difficulty understanding their benefits: For instance, just 4% of Americans are able to correctly define the four terms — deductible, co-pay, coinsurance and out-of-pocket maximum — that determine how much they would personally have to pay for medical services and drugs they receive under their health plans, according to a 2016 survey from Policygenius. That confusion and frustration is taking a hit on employers, too, and is why new ideas to communicate benefits and their value are cropping up. “Audio and video are great ways to communicate with people because they can watch or listen on their own time and are able to multitask,” Avila says.
