While you’re looking forward to popping the champagne and ushering in another successful year, here’s a heads up on what to expect for the coming year for benefits trends.
More than just the New Year’s resolutions that many of us make (then forget about – oops), wellness programs are here to stay for a good reason. More companies over the past year have been offering a variety of wellness programs and incentives to keep their employees happy, healthy, and productive.
Besides offering gym memberships, many companies are employing a variety of techniques to keep their workforce happy and healthy. Programs are easily tailored to reflect a variety of employee ages, from personalized health coaching, seminars, and one-on-one meetings, to smoking cessation programs, massage therapy, and mental health coverage.
Financial Fitness Focus
Financial health can be tied into wellness for many people. Finances can be a major source of stress, which can impact emotional and physical wellbeing. Many companies are seeing that offering financial coaching and education for both personal finances, college and retirement funding, and investing can help relieve some financial stress and prove company commitment to their employees.
With rising health care costs weighing on employers, many are switching to higher deductibles to ease the burden. Fortunately, the higher burden on employees can be lessened with a Health Savings Account (HSA). The bonus is that the money remains from year to year, and can be withdrawn tax free after age 65 even for non-medical expenses, which can help employees save for retirement.
Automation and Combination
Technology and benefits are going hand in hand, and more companies are realizing the benefits and moving to online systems that help them automate not just previously separate benefits enrollment such as retirement and workers compensation programs, but claims and safety management. Administrators and employees alike reap the benefits of automated claims services and health and safety programs tailored to their specific employee demographics.
With these trends in mind, we hope your 2016 is successful and productive.