Sixty-one percent of employers have adopted consumer directed health plans, which provide a personal savings account to offset employee’s deductibles. Employers are expanding health and wellness programs, or implementing cost sharing for some benefits, according to a survey by Prudential.
Brokers say that their roles are being affected by rising healthcare costs and healthcare reform, changing regulations, expanding web technology, and rising competition from non-traditional players. They say that their most important business objectives are retaining customers, increasing productivity and efficiency, and increasing customer satisfaction. Most employees say that voluntary benefits increase the value of their benefit program, even if the employee doesn’t participate. This varies by generation, with a greater percentage of Millennials finding value.