Top 5 Benefits Concerns of Employers in 2023
As HR teams reevaluate their offerings in the coming year, they are focused on providing the best employee benefits in the most efficient ways. To help teams make informed decisions, one benefits firm, Nava Benefits, collected information about choices made by HR teams from over 600 vendors across 28 benefit categories.
Nava’s analytics identified several key benefit concerns as top priorities for HR teams: healthcare navigation, mental health, financial education, fitness and nutrition, and reproductive benefits.
As healthcare costs continue to climb, HR teams are focusing on ways to reduce wasteful spending. One of the most effective solutions is healthcare navigation benefits.
Healthcare navigation benefits help employees identify reliable and cost-effective healthcare options, including providers and facilities. These benefits typically provide patients with information on various in-network providers and comparative price data to help them make informed decisions.
Additionally, healthcare navigation may provide support in understanding complex medical bills or pricing negotiations. In some cases, these services are provided directly through an employer’s health plan, while in others, they may be offered as a separate benefit.
Not only can this save employers money by reducing hospital overcharging, but it can also ensure that employees make the best use of their health plans and benefits.
Mental health benefits have taken center stage in HR departments since the pandemic began, as rising rates of depression, anxiety, and burnout have put a spotlight on the need to prioritize mental wellness. In response, many employers are now offering virtual counseling and therapy options as part of their benefits package.
These changes increase privacy and convenience for employees when accessing mental health providers, allowing them to seek help without taking time off work or traveling for appointments. Benefits like these can improve employee retention and productivity, leading to a healthier workplace.