To hang on to top talent, HR practitioners also will roll out new, creative and customized voluntary benefits. Student loan assistance, anyone? Here’s how benefit experts tell SHRM Online how they plan to do it:
Taking Consumerism Up a Notch
This often means promoting health care consumerism by shifting to high-deductible health plans (HDHPs) and providing—and funding—health savings accounts or health reimbursement arrangements that help employees pay their out-of-pocket expenses and allow them to keep funds that go unspent.
Transparency Tools On the Go
Comparison shopping requires having access to information on access to information on cost and care-quality metrics.
Telemedicine and More
As part of the larger consumerism trend, telemedicine services and onsite clinics also are becoming more prevalent as cost-effective health options for employers. These offerings also appeal to employees who are paying more out-of-pocket for their care.
Employers are using health care analytics to design better plans and to demonstrate to employees the costs associated with their health care plans.
Customization and Communication
Promoting Financial Well-Being
For employers, financial wellness programs that help workers to reduce—or at least better handle—stress about money and debt is a way to improve physical and mental health, lower absenteeism and turnover, and raise productivity.
To read more about each of these topics raised above, please visit the full article here.