As healthcare costs for employees rise, organizations are seeking ways to minimize costs of benefits while ensuring employees are satisfied.
In a presentation at the Becker's Hospital Review 7th Annual Meetingin Chicago on April 28, Peter Bresler, the North American practice leader of health analytics for Willis Towers Watson, discussed trends in employer-sponsored health benefits seen in a variety of Willis Towers Watson research initiatives.
Here are five key findings Mr. Bresler discussed in his presentation.
1. In 2015, 44 percent of employers said they thought they would still be providing benefits into the future, according to Willis Towers Watson data. That percentage is a significant drop form the 73 percent who said the same in 2008. After that year — notably the implementation of the Affordable Care Act — employers who expected to still provide benefits sharply decreased to close to 40 percent. However, the number is slowly rising again.
"Some employers are thinking the health of their employees is a strategic asset for whatever business initiatives they're pushing forward," Mr. Bresler said. "The negative view is the thought of the public exchanges, and that makes employers a little bit nervous."
2. The majority of employers said developing or enhancing a workplace culture of health is a top priority, with 66 percent of employers indicating so. "They are recognizing various positive impacts of good health, whether bottom line on a cost standpoint, reduction in absenteeism or other forms crucial to highlight," Mr. Bresler said.
3. The second top priority employers are looking at in regards to sponsored health benefits is seeing how other companies and competitors are approaching the situation. Mr. Bresler highlighted this herd mentality where organizations want to see an approach proven elsewhere before they implement it in their own organization.
4. Eighty-three percent of employers said they plan to place more of an emphasis on data, metrics and analytics when it comes to sponsored health plans. Employers are looking for transparency tools and evidence-based data when assembling a health benefits program.
5. Mr. Bresler also shared data on the employee side and offered insight on what employees seek. When selecting benefits, people want a smaller list of choices, he said, adding that having too many options can be intimidating. Individuals are also very sensitive to co-pays. They are more concerned with the up front, out-of-pocket costs instead of the percentage services are covered under a plan.
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