Employer and employee perspectives
Across the benefits landscape, many vendors make it increasingly difficult for employers to evaluate, select and manage the right benefits solutions. According to a major survey of large employers, 43% of companies say there are too many health benefits solutions on the market — up substantially by 26% from the year before.1
And for employees, the environment can seem even more overwhelming: The U.S. healthcare industry is so complex that adults spend the equivalent of an entire 8-hour workday every month coordinating care for themselves and their loved ones, according to a recent Harris Poll survey.2 A better solution is desperately needed.
The employer’s perspective
To create a benefits ecosystem filled with targeted solutions, employers should consider a hub approach that offers a curated network of vendor solutions and tailored guidance around which solutions will be most meaningful for their employees.
A hub solution focuses on vendors that make sense for a company and its employees by reviewing the marketplace, assessing efficacy and identifying leading vendors across a wide array of benefits, from diabetes management and cancer care to women’s health and nutrition. It also helps secure competitive pricing, features a single contract with simple invoicing and conducts ongoing performance analyses to ensure that vendor partners continue meeting the employers’ needs.
The employee’s perspective
However, even the most optimized benefits package with products uniquely tailored for a company’s employee population will not be effective if employees do not use the benefits — whether they have difficulty accessing them, fear the associated costs or do not know how to navigate the options. According to recent data from the Kaiser Family Foundation, 1 in 4 adults have skipped or postponed necessary healthcare in the past 12 months.3