Trends Report
We’ve compiled the top 5 trends that have made the biggest splash this year and should be top of mind as you head into Open Enrollment and beyond.
Increasing claims and benefit costs
Increased focus on affordable healthcare
The cost of healthcare benefits is a growing concern in the industry, with actual expenses exceeding previous predictions. This trend has been consistent over the years, putting pressure on both employers and employees. The pandemic also disrupted health services, leading to missed health screenings, delayed follow-up care and more late-stage diagnoses. Investing in preventative care is crucial to reducing late-stage diagnoses, providing timely treatment and reducing financial burden on employers and employees alike.
Evolving employee benefit needs
Which benefits are rising in popularity?
Financial Wellness
82% of employees believe employers should support their financial wellness
Family Planning
As more states enact family leave laws, more employees want family planning benefits
Women’s Health
The need for women’s health and fertility support benefits has increased significantly
Anxiety and depression levels on the rise
Burnout levels continue to rise
In 2023, the world faces a perfect storm of stressors, including increased job responsibilities, pandemic effects, and inflation. This has led to a concerning surge in worker burnout, with 42% of the workforce experiencing it, the highest since May 2021. The repercussions are significant, affecting productivity, job performance, and communication. Furthermore, a substantial number of individuals are not receiving the mental health treatment they need, exacerbating the issue.
%
Overall Program Satisfaction
%
Reduced Absenteesism
%
Clinical Improvements
%
Increased Productivity
Depression can interfere with job tasks about 20% of the time and reduce cognitive performance about 35% of the time
Empowering better benefit decisions
Creating personalized experiences
Today’s Unique Workforce
There are 5 generations in today’s workforce each with their own benefit needs
Offering Lifestyle Benefits
Offering lifestyle benefits allows for customized benefit packages
Investing in engagement
Improving benefit engagement means increased benefit utlization
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2022 Benefits Trends Report – What actually matters in 2022
2021 Benefits Trends Report – Maximize your time and budget
