Fall is an exciting time for those of us in the benefits community. Apart from new hire onboarding, it may be the only time of year when workers are focused on their benefits, prompted by carefully crafted messages about open enrollment.

But as delighted as HR professionals may be to see increased engagement with their companies’ retirement and health insurance plans, they need to confront a hard truth: for many low- and moderate-income (LMI) workers, cost is a prohibitive barrier to participating in these plans at all. The employee health premium may not be affordable for these families, while many LMI workers may not be able to afford a retirement contribution to trigger the employer match.

In a typical year, 25-40% of private sector LMI workers do not participate or enroll in these benefits, citing insufficient financial resources. In 2023, the challenge is magnified in light of ongoing economic pressures and the resumption of student loan payments–with as many as 40 million Americans responsible for those monthly debt payments once again.

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2023 ALM Global, LLC. All Rights Reserved.