2019 Benefit Trends Report: Comprehensive coverage and education are top priorities

2019 Benefit Trends Report: Comprehensive coverage and education are top priorities

Benefits are a fast-evolving business, and findings from Empyrean’s 2019 Benefit Trends Report demonstrate that this evolution continues as quickly as ever.

Among this year’s findings: employers are focused on delivering coverage choice in addition to managing costs, offering competitive and comprehensive options that expand beyond the basics, and helping families make the most of their benefit packages by leveraging the right tools, technology solutions, and services to educate and engage their employees.

The report looks at a host of employee benefit trends and analyzes data across a wide variety of Empyrean clients. As benefits increase in complexity and the workforce becomes more diverse, organizations can expect these growing employee (and consumer) demands to make an even bigger impact on how businesses attract and retain top talent – as well as companies’ bottom-line expectations.

Below is just a small selection of findings from the report. For more, download your free copy of the full report here.

  • PPOs and HDHPs remain the most popular health care coverage options. 97% of employers offer at least one of these two types of health insurance plans, and 64% of employers offer both.
  • Of employers offering HDHPs, only 8% utilize a full-replacement (HDHP-only) strategy. This is down from 14% in 2018 – suggesting employers are looking to offer coverage choice over pure cost-savings.
  • 78% of employers offer voluntary benefits to their employees. Voluntary benefits include accident coverage, critical illness coverage, and pet insurance.
  • Over one-third of organizations have decision support tools available to employees during open enrollment. The most popular decision support tool is the recommendation engine. Decision support is emerging as a critical resource that empowers employees to identify the benefit plans that are right for them and their families.

Among this year’s trends are indications that education, benefit technology, interconnectivity, and a holistic, people-centric approach are critical to driving benefits success. Want to know how your benefits strategy compares? Download your free copy of the 2019 Benefit Trends Report now.

You’ll discover how human resource leaders are navigating today’s evolving benefits landscape, adapting to new challenges and demands, and making employee benefits work for their business.

As you read, we’d love to get your thoughts. Feel free to contact us with questions or comments at info@goempyrean.com.

Help Employees Give Flowers, Not the Flu, with Telehealth

Help Employees Give Flowers, Not the Flu, with Telehealth

By Jill Hernandez, Director of Specialty Insurance Solutions

It’s February, which means love is in the air…and unfortunately, so are germs.

You don’t have to be a medical professional to know that doctor’s offices are especially crowded this time of year, with low temperatures bringing lower immune systems. Employers no doubt are struggling to find effective ways to remain productive as employees take higher rates of sick days and navigate the healthcare system. And if you have tiny petri dishes – ahem, children – like me, you’re on high alert this time of year for the first sign of illness in your home.

The Value of Voluntary: How to Engage Your Employees with Supplemental Coverage

The Value of Voluntary: How to Engage Your Employees with Supplemental Coverage

Voluntary benefits are increasingly essential to employee peace of mind and financial wellbeing, but many employees still struggle to understand how their supplemental plans work. This confusion results in coverage gaps and limited job satisfaction – but a tailored enrollment and benefits experience can help.

2018 Benefit Trends: How Trends are Shaping the Benefits Landscape

2018 Benefit Trends: How Trends are Shaping the Benefits Landscape

In today’s tight talent market, benefits are an increasingly important factor in determining employee satisfaction and company success. Proactive HR leaders are staying ahead of the curve by empowering participants with personalized resources to meet their diverse needs. How does your approach compare?

Wellness at Work: 3 Keys for Healthier, Happier, and More Productive Employees

Wellness at Work: 3 Keys for Healthier, Happier, and More Productive Employees

An engaging employee wellness program can bring about positive and lasting change that can benefit your workforce and your bottom line. But what is the best way to drive wellness success without burdening your team?

Health Savings Accounts: Combining HSAs and Technology to Drive Greater Value to Your HDHP

Health Savings Accounts: Combining HSAs and Technology to Drive Greater Value to Your HDHP

In response to rising pressures, many employers are turning to high deductible health plans (HDHPs) to meet the needs of both their businesses and employees. Combined with an health savings account (HSA), an HDHP can prove to be a mutually beneficial option for both businesses and workers, but your success is dependent on how these options are strategically approached and supported.

2017 Employee Benefit Trends Report

2017 Employee Benefit Trends Report

Results from this year’s Empyrean Annual Enrollment survey indicates HR leaders’ growing interest in consumer-driven plans, as well as the need to maintain strategic control to adapt to rapid business changes.

LET'S TALK