Workers don’t take the time to understand their benefit choices

Aflac surveyed American workers and found:

90% choose the same benefts year after year.**

64% say they rarely or never understand the changes in their beneft coverage.**

47% spend less than 30 minutes selecting their health care benefts *and 41% spend less than 15 minutes researching their beneft options.**

Source:*2014 Aflac WorkForces Report**2014 Alfac Open Enrollment Survey

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Source:12014 Aflac Open Enrollment Survey2Zillow Mortgage Marketplace Survey, accessed June 18, 2014 - http://zillow.mediaroom.com/index.php?s=28775&item=85029

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Time well spent?

Workers spend 20 times more efort on vacation planning and 16 times more time selecting a computer than on choosing health insurance.

In fact in a recent survey, 41% said they spend less than 15 minutes selecting their health care benefits. 1

In comparison, they spend a lot more time: 2

Researching new car purchases – 10 hours

Researching mortgage loans – 5 hours

Planning vacations – 5 hours

Shopping for new computers – 4 hours

Deciding what televisions to buy – 2 hours

Lack of understanding of insurance leads to wasted money

Aflac surveyed American workers and found:

73% say they only sometimes or rarely understand everything that is covered in their policy.*

62% say they rarely have a full understanding of their deductible costs.*

42% estimate they waste up to $750 a year because of mistakes made during open enrollment.**

Source:*2014 Aflac WorkForces Report**2014 Aflac Open Enrollment Survey

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Health expenses higher and workers are not prepared financially

Aflac surveyed American workers and found:

On average, workers spent $1,569 more on health care this year than last year.**

69% say they regularly underestimate the total costs of an illness or injury.*

53% say their health care costs were considerably or somewhat more than last year.**

49% have $1,000 or less to pay unexpected out-of-pocket medical expenses, and 27% said they have less than $500.*

Source:*2014 Aflac WorkForces Report**2014 Aflac Open Enrollment Survey

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Many workers waste $750 annually on benefits mistakes

Aflac surveyed American workers and discovered 42% estimate they waste up to $750 a year because of mistakes made during open enrollment.1 That’s equivalent to:

Three weeks of grocery for a family of four. 2

211 gallons of gasoline, which is enough to fll the average mid-size car’s tank 14 times. 3, 4

10 months’ worth of diapers for an infant. 5

A family of four seeing 22 box-offce-hit movies. 6

Three iPhone 5Cs with 32 GB of storage. 7

Source:12014 Aflac Open Enrollment Survey.2US Dept. of Agriculture, Center for Nutrition Policy & Promotion, Oicial USDA Food Plans, US Average, June 2014, accessed July 30, 2014: http://www.cnpp.usda.gov/Publications/FoodPlans/2014/CostofFoodJun2014.pdf 3 US Energy Information Administration, Gasoline Release Date 7/28/14 $3.54, accessed July 30, 2014, http://www.eia.gov/petroleum/gasdiesel/4 Average size of car gas tank, mid-size car is 15 gallon, accessed July 30, 2014: http://www.ask.com/question/how-many-gallons-will-the-average-gas-tank-hold 5

Disposable diapers average cost, $72 per month, accessed July 30, 2014: http://www.babycenter.com/baby-cost-calculator6 Average movie ticket costs $8.33, accessed July 30, 2014 http://www.hollywoodreporter.com/news/average-movie-ticket-price-hits-720316 7 Apple Store, $199, accessed July 30, 2014http://store.apple.com/us/buy-iphone/iphone5c?aid=www-k2-iphone+5c+-+index-n%40b&cp=k2-iphone+5c+-n%40b