Three Key 2022 Employee Benefit Trends—and Why They Matter
New year, new worries: nearly two full years into the pandemic, employers and employees are grappling with new uncertainty as the Omicron wave upends normalcy once more. Add to this the ongoing strain of mental health and workplace stress, and the challenges of a fierce hiring market. It’s easy to see how critical the right benefits can be to protect productivity and retain top talent. Here is a look at key 2022 employee benefit trends—and why they matter to you.
Key employee benefit trends
Recruitment and retention. . As many as 25% of employees have quit1 —or are considering quitting—over ongoing stress, work-life balance or other strains. And with a record 11 million2 current job openings, it’s very challenging to stand out. This is where benefits that make employees feel valued and appreciated can make a real difference in attracting or retaining top talent.
Employee well-being. After years of cost-shifting and shrinking coverage, employees are paying more out-of-pocket for their healthcare costs. This reality can have health consequences: One in four U.S. adults has delayed medical care for themselves or family members because of financial strain.3 The right approach to benefits, though, can close voids in coverage, reduce out-of-pocket healthcare expenses and help to reduce financial worry and delays in seeking care.
Virtual care. Over the last two years, virtual care has become far more accepted, including for counseling and therapy to address mental health needs (which have surged since early 2020). It’s a convenient, effective way for employees to get the care they need when they need it. Often, though, mental health care is out-of-network with most primary care plans. It’s effective, and it matters, as mental health is connected to productivity, performance and the bottom line.
Expanded benefits that promote physical, mental, emotional and financial well-being can help employees through present and future uncertainty.
An all-in-one solution for employee well-being
When it comes to employee support, one-size-fits-all primary health care plans can often fall short. Voids in coverage and lack of flexibility mean it’s difficult to meet evolving employee needs, especially in a changing world.
There’s another approach that can help employers stay on top of key employee benefit trends—complementary insurance. At ArmadaCare, we’re committed to filling in the gaps in standard employer-sponsored health insurance coverage, including in mental health coverage and support for well-being.
WellPak gives employers the flexibility, coverage and programs to meet changing needs and support better employee well-being. This complementary health insurance product*offers a unique combination of mental health and well-being benefits and services together in one plan. No other solutions combine coverage to help pay the inevitable out-of-pocket costs of mental health treatment with support and access to the right care, whether that’s coaching or counseling or in-patient treatment. Learn more now.
*The above referenced supplemental health insurance policies have exclusions, limitations and benefits that vary by plan and state. To obtain a quote or for more details on coverage, contact ArmadaCare.
ArmadaCare’s supplemental health insurance policies are underwritten by Sirius America Insurance Company and Transamerica Premier Life Insurance Company. Insurance plans and coverages vary by state. Please contact us to confirm state availability.
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[1] AP/NORC Poll, 2020
[2] U.S. Bureau of Labor Statistics, 2021
[3] Gallup, 2019