Labelling is different since version 20.
You now do it as you mentioned or you can simply set up your label tool and just click on the element/s that you want to label (plan or elevation).
This will give you more control of how the label is placed but you must do it for each element.
Now you can have more than one label per element which is why there is no longer a check box in the element settings.
One of the forum moderators. Versions 6.5 to 25 Dell XPS- i7-6700 @ 3.4Ghz, 16GB ram, GeForce GTX 960 (2GB), Windows 10 Dell Precision 3510 - i7 6820HQ @ 2.70GHz, 16GB RAM, AMD FirePro W5130M, Windows 10