Focus on this year’s benefits trends

1 Health Savings Accounts and other account-based health plans continue to gain traction in the industry, and with proposed legislation to expand these accounts, it is a trend that is expected to continue. Education to help employees better understand and make the most of these accounts remains a priority.
2 Innovative new benefit programs are on the rise, with companies introducing non-traditional programs and enhancing existing programs to better meet the needs of today’s workforce. Programs such as paid caregiving leave, student loan benefits or expanded parental leave are just a few examples.
3 Make it personal and accessible to engage employees in a meaningful way. In today’s hyper-personalized society, employees seek benefits and rewards experiences that are aligned to their own individual preferences. In addition, benefit services need to be simple, convenient and accessible to engage employees and help them fully leverage what employers make available.
4 Emotional health is coming out of the darkness with negative stigmas being removed, helping make it easier for employees to get the help they need. Behavioral health services are expanding as well, creating more choice and accessibility.
5 Technology is changing the game. From decision-making tools to simplified account management, technology can help provide personalized experiences in cost-effective ways, reducing your administrative burden while increasing employee engagement and satisfaction.

Source: Society for Human Resource Management, 2019.