Voluntary Participation Rates

Cost: $2,500; published 2020

There are many factors in the equation used to evaluate the success of an enrollment, whether initial or annual. Products, employer and broker buy-in to the enrollment strategy and clear communication are all vital. Ultimately, however, successful enrollments are defined by good participation rates for the products offered. 

Since carrier practices for setting participation requirements and tracking actual participation vary, the objective of the 2020 Voluntary Participation Rates Spotlightâ„¢ Report is to provide comparative data on the participation rates of carriers active in the voluntary market. Topics include:

  • Participation rates by group size
  • Participation rates by product line
  • Participation rates by enrollment methodology
  • Impacts on voluntary participation rates
  • Strategies to improve participation rates
  • Future trends

It is important to note that while carrier participants were not able to provide data on all measures, this report provides a valuable snapshot for carriers to compare their own results to others in the industry. Where appropriate, the report also compares findings to the 2017 report.

 

View Table of Contents

1. Executive Summary

A. Report Objectives

B. Key Findings

C. Methodology

2. Detailed Findings

A. General Information

1. Voluntary Products Offered

2. Group vs Individual Platform

B. Voluntary Participation Rates

1. Method of Calculation

2. Average Participation Rate Changes

3. Participation by Group Size

4. Participation by Product Line

5. Participation by Enrollment Method

C. Impacts on Voluntary Participation

1. Participation and Core Enrollment

2. Participation and “On- or Off-Ballot” Enrollment

3. “Off-Cycle” Enrollment Participation

4. Active Enrollment Requirements and Participation

5. Participation and Online Product Sequencing

6. Ideal Working Conditions

7. Basis for Participation Requirements

8. Participation Results Compared to Pricing Assumptions

9. Action if Participation is not Met

10.”Maxed Out” Accounts

11.Most Important Factors Limiting Improvement to Participation Rates

12.Future Changes to Improve Participation Rates

13.Importance of Improving Participation Rates

14.Future Expectations for Participation Rates

 

 


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