Balancing cost and empathy in employee benefits
Autor: Mercer Marsh Benefits.
Fuente: Mercer Marsh Benefits, 2020.
Employer-sponsored health and benefit plans have moved from “fringe” or “nice-to-have” to being a central pillar of the employee value proposition, with increased C-suite attention. In response, the variety and sophistication of products in the market has grown — with many firms offering not just insurance benefits but also a broad range of physical, mental, social, and financial well-being initiatives. Still, the costs of employer-sponsored health plans are climbing rapidly. In fact, on average, medical costs outpace general inflation by close to three times. Businesses are therefore seeking ways to economize and improve efficiencies in their health-related plans. The desire for employer-sponsored coverage and support continues to rank high among employees. Thus, employers are balancing the need to assure access and sustain affordability, for both the organization and the employee.
To successfully meet this objective, employers need to take quick action to modernize their benefits and optimize value to ensure they offer cost-effective plans that protect and improve employee health.