Employers are recognizing the need to modernize the employee health experience following research that demonstrates the disconnect between companies’ investment in health benefits and the impact on employee health.
Employers are recognizing the need to modernize the employee health experience following research that demonstrates the disconnect between companies’ investment in health benefits and the impact on employee health.
The research—published by League and conducted in partnership with Harvard Business Review Analytic Services—surveyed 238 executives and found that 90% of respondents view employee health benefits as a reflection of the organization’s understanding of the needs of their employees. Since healthcare costs continue to rise, companies are beginning to focus on restructuring health benefits, with 51% of organizations increasing the strategic priority of benefits over the next 3 years.
Although employers are committed to trying to improve health benefits, employees had demonstrated a lack of awareness. According to the research, 58% of survey respondents reported that employees are unaware of the company-provided health benefits that they are entitled to and 63% said employees do not know enough about leveraging their benefits.
“There is a profound disparity between what employers are doing to provide health benefits and what employees are actually getting from these efforts,” Mike Serbinis, chief executive office of League, said in a statement. “To close this gap and improve health outcomes while reducing costs, the entire ecosystem needs to become employee-centric. Employers need to think about how they can streamline the current sea of point solutions with an enterprise health OS and empower employees to proactively manage their health.”
Due to the minimal amount of employee awareness, there are low levels of engagement with health programs. Only 28% of respondents reported that employees engage with all of the benefits that are offered, and only 27% of organizations said that employees use the full range of benefits.
Despite the lack of engagement, 68% of the respondents reported that there are opportunities for the organization to improve their health benefits costs and 68% also are open to changing their employee health care experience, according to the research. As costs continue to rise, employers are placing an emphasis on focusing on this issue.
ERISA Industry Committee Sues Minnesota Over PBM Law
January 3rd 2025The Employee Retirement Income Security Act (ERISA) Industry Committee filed a legal challenge against the Minnesota Department of Commerce, arguing that Minnesota’s Pharmacy Benefit Manager (PBM) Licensure and Regulation Act illegally interfered with employer-sponsored health plans by restricting plan design options and increasing costs.
Read More
How Can Employers Leverage the DPP to Improve Diabetes Rates?
February 15th 2022On this episode of Managed Care Cast, Jill Hutt, vice president of member services at the Greater Philadelphia Business Coalition on Health, explains the Coalition’s efforts to reduce diabetes rates through the Diabetes Prevention Program (DPP).
Listen
Contributor: The Diabetes Vendor Resource Guide—A Useful Directory for Employers
November 13th 2024Employees living with diabetes often face unique challenges, such as managing blood sugar levels, balancing medication, and preventing complications, all while maintaining their professional responsibilities. This condition can lead to increased absenteeism, reduced productivity, and rising health care costs.
Read More
Employers Shift to Equity-Focused Strategies as Health Costs Outpace Wages
October 31st 2024As health care costs escalate, a new survey reveals that 74% of employers are grappling with the impact on employee wages and benefits, with many anticipating further cost-shifting to their workforce.
Read More