National Employee Benefits Day
National Employee Benefits Day is celebrated each year as a time to take a step back and look at the big picture of your benefit programs. Employee benefits are compensation packages that include benefits such as healthcare insurance, retirement saving plans, time-off and leave, and other wellness initiatives. Employers offer benefit packages to attract and retain talent. One study found that 60% of employees said their benefits were extremely to very important to them when considering staying with their current employer (1).
A survey released by Society for Human Resource Management found that employers ranked healthcare as the most important type of benefit that an organization can offer its employees. With nearly all organizations (98%) offering some type of health coverage, 72% offer fully insured health plans and 26% offer a self-insured option. Following healthcare, retirement benefits were ranked second in importance, with 82% of employers ranking this benefit area as extremely or very important in 2022 (2).
By offering Via Benefits, employers combine the two types of benefits that are ranked as most important: healthcare and retirement – into a benefit that sometimes goes overlooked: retiree healthcare. It is estimated that the average couple will need to save $315,000 to cover medical expenses in retirement, excluding long-term care (3).
Via Benefits provides employers, plan sponsors, employees and retirees with benefits solutions spanning individual health insurance on the country’s first and largest individual marketplace for Medicare and Pre-Medicare retirees and spending accounts that promote physical, financial and emotional wellbeing to help keep health benefits affordable for active employees and retirees. With over two decades of experience, Via Benefits makes it easy to administer individual plans and funding programs through its wholly owned and fully integrated administration platforms, allowing your employees and retirees easy access account information and comprehensive decision-support tools.
Sources:
Haan, Kathy. “Employee Benefits in 2023: The Ultimate Guide.” Forbes, Forbes Magazine, 24 Feb. 2023, https://www.forbes.com/advisor/business/employee-benefits/.
Shrm. “SHRM Releases 2022 Employee Benefits Survey.” SHRM, SHRM, 13 June 2022, https://www.shrm.org/about-shrm/press-room/press-releases/pages/shrm-releases-2022-employee-benefits-survey--healthcare-retirement-savings-and-leave-benefits-emerge-as-the-top-ranked-be.aspx.
“Retirement Planning: Health Care Costs.” Retirement Planning: Health Care Costs | Fidelity Institutional, Fidelity Institutional Asset Management®, 31 Jan. 2023, https://institutional.fidelity.com/app/item/RD_13569_42402/retirement-planning-health-care-costs.html.