STUDY OF EMPLOYEE BENEFITS: 2006 & BEYOND - Prudential

Web Technology is Empowering Employees
Online tools to serve employees help to provide easy access to information, legal protection,
and consistent information while freeing up limited HR resources for higher value activities.
Benefits web technology designed for employee self service has been well received
by plan sponsors. The most common functionality available in the marketplace is for
managing retirement plans, accessing claims information and forms, and for financial
planning. The market is quickly evolving toward more transactional and decision
support tools to help employees effectively manage their own benefits and make
benefits selections that best meet their individual needs.
Interestingly, about twice as many employers expect to be deploying employee web tools
for accessing PTO information, as well as enrollment and claims submission by 2010.
ONLINE TOOLS AVAILABLE FOR EMPLOYEES
Doing in 2006 Plan to do by 2010
2006–2010
Change
Access PTO info
22%
52%
+30
Handle enrollment
34%
62%
+28
Submit claims
Update beneficiary
Update personal info
Verify eligibility
Access financial info/tools
Check claim status
Access ins. & ret. plan info
Obtain forms
35%
60%
41%
65%
43%
64%
39%
59%
50%
65%
50%
65%
54%
66%
63%
68%
+25
+24
+21
+20
+15
+15
+12
+5
Future Growth High Current Usage
Manage D.C. plan
70%
70%
–
25