Today’s employers are even more likely to contemplate making changes to their benefits package, according to Eastbridge Consulting
AVON, CONNECTICUT, USA (December 4, 2014)
The two changes mentioned most frequently by those surveyed are shifting more of the cost for group plans to employees and moving certain benefits to voluntary, particularly vision and dental.
The purpose of the 2014 MarketVision™—The Employer Viewpoint Spotlight™ Report is to help carriers stay current on the ever-changing voluntary short-term disability market.
Following are a few findings from the report:
- Medical, prescription and dental are still the most commonly offered benefits, and accident, life, and dental the most commonly offered voluntary benefits.
- Employers are very interested in adding non-traditional products to the benefit packages in the future.
- The majority of employers now prefer some form of self-directed, online enrollment method.
This year’s report includes responses from over 900 employers, with a minimum of 100 employers from each of seven different size categories. The specific topics covered include:
- Types of benefits (voluntary and employer-paid) currently offered
- Changes that have occurred in the voluntary benefits offered
- Changes employers are considering to their overall benefits plan
- Use of private or public exchanges and defined contribution plans to get benefits to employees
- Types of benefits employers would consider offering as voluntary
- Most important factors for employers in choosing a voluntary carrier
- Preferred enrollment methods for voluntary benefits
Eastbridge Consulting Group, Inc. is a marketing advisory firm serving insurance and financial services organizations in the United States and Canada.