Health benefits

Employers strengthen health benefits in a competitive market

Survey finds 70% of large employers plan health and benefits improvements for 2023.

According to a study by Mercier.

The survey of 708 organizations ranging from less than 500 employees to 5,000 workers or more. Among large employers, 70% said they plan health and benefits improvements in 2023, while 61% of all employers are conducting surveys on employee benefits preferences.

“In today’s competitive job market, employees may leave their jobs for others that offer only slightly higher pay,” said Tracy Watts, senior partner and national health policy manager. American at Mercer. “Employers are looking to create a stronger connection with this workforce by providing health and wellness benefits and resources that their employees will appreciate.”

With health benefits a priority for many workers, employers are revamping their health plans to attract talent.

The survey found that 41% of employers will offer a health plan option with a low or no deductible, such as a co-pay based plan, while 11% are considering it.

Additionally, 11% offer free employee-only coverage for at least one plan option, and 11% are considering it.

More than half of large employers (52%) said they would offer virtual behavioral health care, with 40% offering a virtual primary care physician network service.

When it comes to fertility treatment coverage, nearly a third of large employers will offer benefits such as adoption and surrogacy, while another third are considering it.

Family-friendly benefits are also a priority, with 70% of respondents currently offering or planning to offer paid parental leave and 53% offering or planning to offer paid adoption leave.

“Employers need to be really thoughtful and specific about their benefits to make sure they’ll get a return on their investment,” Watts said. “It requires an understanding of the values ​​and needs of their unique workforce.”

Jay Asser is associate editor for HealthLeaders.