While many have speculated that employers could start to pull back on healthcare spending due to a changing labor market and inflation pressures, a new study from Mercer shows that may not be reality.
According to Mercer’s Survey on Health and Benefit Strategies for 2024, nearly two-thirds of large employers (those with 500 or more employees) say they are planning to make enhancements to their health and well-being offerings in 2024 to better attract, retain and meet employee needs, but only 3% say they will raise cost-sharing enough to compensate for the projected cost increases.
Those added costs have to come from somewhere, though, which means employers will need to get creative. EssentialCare Group Ancillary products can provide value-added benefits while managing to strapped budgets – in fact, they can be offered to employees at NO COST to the employer!
EssentialCare Group Accident, Critical Illness, and Hospital Indemnity supplement traditional health insurance by providing additional cash benefits in the event of an accident, injury, serious illness or hospitalization. Products can be customized to complement an employer group’s underlying major medical, offering added support when employees need it most.
Offering EssentialCare Group Accident, Critical Illness, and Hospital Indemnity is a great opportunity to add benefits employees want and need, while managing employer healthcare costs. Contact us today [EMAIL] to learn more!
