Employee Benefits Market Trend Report Published

As constantly changing circumstances affects how employers handle their operations and benefits offerings, the ability to get a solid picture of what other companies are doing becomes even more important.  

In 2020, Assurex Global conducted a series of polls with thousands of employers to gain an understanding from them on a variety of employee benefits, human resources, and health care topics.  

In our EB Market Trend Report, you will find useful information on these topics you can use to help guide your own decisions as you evaluate your employee benefits offerings. Here are 4 key takeaways from our findings:  

1. HSA Contributions – From our data, we are seeing a trend that employers will be maintaining their contributions for the next year. This tracks with the previous year, where most employers kept their HSA contribution at the same level.  

2. Medical Plan Opt-Out Incentive Strategy – A large majority of employers do not offer any kind of incentive to employees who choose to waive coverage and enroll elsewhere. Though offering this kind of incentive can provide savings, employers recognize that they must consider a variety of other financial, cultural, and compliance-related factors before employing one.  

3. 2021 Employer Health & Wellbeing Strategies – Our data indicated a trend of employers choosing to increase and enhance various medical and non-medical offerings in the new year, particularly, access to virtual care or digital health solutions, financial wellness services, and other voluntary benefit products.  

4. Annual Enrollment Methods – It has become critical to keep employees engaged in the enrollment process, and our data show that employers are still heavily utilizing group and one-on-one meetings (both virtual and in-person), along with online web portals and traditional, printed mailings, to effectively communicate benefits offerings.  

The report can be viewed in full here.