As companies seek to control the cost of employee benefits, working Americans are feeling the pinch. Employees are now bearing more of the cost of health insurance, and as a result, the perceived value of employee benefits — the BVI score* — has dropped from 7.1 in 2014 to 6.7 in 2016. But there may be even more troubling consequences to employees’ health and financial well-being.
Before these effects occur, employers should consider:
- Offering health savings accounts (HSAs) in conjunction with high deductible health plans
- Providing education and decision support for HSAs
- Giving employees wider access to supplemental health benefits like hospital indemnity, accident, cancer, and critical illness insurance
For a complete picture, read the research brief “A Crack in The Foundation” from The Guardian Workplace Benefits Study: Fourth Annual.