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Why This Enrollment Season Is a Pivotal Moment for Brokers

Posted on July 15, 2025

As someone who’s spent years helping brokers connect people with the insurance protection they may need, I can tell you this: this enrollment season is different.

Brokers are facing a unique moment — one shaped by economic uncertainty, shifting employee priorities, and a growing demand for financial stability over financial growth. The latest MassMutual Q1 2025 Pathway to voluntary benefits success report reveals a clear message: employees are no longer focused on getting ahead — they’re focused on staying afloat.

This shift presents both a challenge and a powerful opportunity for brokers to lead with empathy, education, and offer solutions for financial protection that meet today’s needs.

The New Financial Mindset: From Growth to Maintenance

MassMutual’s Workforce Financial Stability Score (WFSS), which measures working Americans’ perceptions of financial well-being, averaged 56.0 in Q1 2025. While that’s on par with last year, the story beneath the surface is one of growing caution:

• More employees are prioritizing financial maintenance over improvement
• Fewer are expecting to start or build an emergency fund
• More are concerned about the ability to save for the future before retirement
• Cost is now the top concern when evaluating voluntary benefits

This may not be a trend, but a transformation in how employees view their financial futures. And it’s happening across all three segments¹ of working Americans our WFSS survey tracks — the Financially Challenged, Stable and Healthy — signaling a need for more accessible benefit solutions that can help protect employees today and tomorrow.

Voluntary Benefits: A Critical Safety Net

In this climate, voluntary benefits are no longer “nice-to-haves.” They can be essential tools for financial resilience. Yet, the report shows a troubling decline in engagement:

• 44% of employees didn’t enroll in voluntary benefits during the last open enrollment (vs. 38% prior year)
• 35% regret their benefit choices, and 28% wish they had chosen differently
• Knowledge gaps persist, especially around Group Accident Insurance, Group Critical Illness Insurance, and Group Hospital Indemnity Insurance

This is where brokers can step in and make a real difference — by helping employees understand not just what these benefits are, but why they may matter now more than ever.

Group Whole Life Insurance & Supplemental Health: The Right Fit for Right Now

When employees are financially vulnerable, they need benefits that can offer predictability and peace of mind. That’s exactly what Group Whole Life and Supplemental Health products may deliver.

Group Whole Life Insurance

• Offers guaranteed death benefits, guaranteed level premiums, and guaranteed cash value
• Can be a long-term financial anchor for employees who want to protect what they’ve worked hard to build
• In addition to its primary purpose of providing permanent life insurance, cash value accumulation can help with emergency preparedness and be a financial resource² during an employees’ lifetime

Supplemental Health Products

• Products like Group Critical Illness Insurance and Group Accident Insurance can help with unexpected costs that could otherwise derail a family’s finances
• These benefits are especially relevant now, as employees across all three segments report increased concern about their ability to manage expenses between paychecks
• Yet, understanding remains low — only 30% understand Critical Illness Insurance, and 27% understand Hospital Indemnity Insurance

Voluntary benefits can be lifelines. And coverage can be more relevant than ever in a world where 35% of employees say they dropped voluntary benefits due to cost yet still worry about how they’ll handle emergencies.

Education Is Everything

Our report shows that 68% of employees are willing to invest more time to increase their financial literacy. That’s a huge opportunity for brokers.

When the time is taken to explain how these products work — and why they matter — you’re not just selling a product. You’re building trust. And trust is what drives employee engagement and enrollment, and long-term client relationships.

How You Can Lead

Offering the right benefit solutions is just the start. Here’s how you can make a real impact — especially when working closely with both employee benefit carriers and clients:

Partnering with Carriers:

• Educate and Empower: Collaborate with carriers to deliver clear, jargon-free education on voluntary benefits. Use webinars, digital tools, and real-life scenarios to close knowledge gaps
• Leverage Carrier Tools: Utilize enrollment support, scenario planning, and communication resources provided by carriers to simplify the decision-making process for employees
• Highlight Value Over Cost: With affordability top of mind, show how premiums today can help prevent major financial setbacks tomorrow

Collaborating with Clients:

• Promote Year-Round Engagement: Encourage employers to offer benefits check-ins and financial wellness touchpoints throughout the year — not just during open enrollment
• Support Financial Literacy Initiatives: Help employers implement financial education programs that align with employee needs and increase confidence in benefit decisions
• Simplify Enrollment Experiences: Coordinate with employers to streamline the enrollment process, making it easier for employees to understand and act on their options
• Emphasize Access: Ensure you have an extensive portfolio of offerings that provide solutions for financial protection. Providing access is key because for so many working Americans, good financial health and well-being starts with their workplace benefits

Final Thought

This is your moment to lead. To guide. To show employees that even in uncertain times, they have options — and you’re the one who can help them make the most of them.

Let’s make this upcoming enrollment season count!