STUDY OF EMPLOYEE BENEFITS: 2006 & BEYOND - Prudential
STUDY OF EMPLOYEE BENEFITS: 2006 & BEYOND - Prudential
STUDY OF EMPLOYEE BENEFITS: 2006 & BEYOND - Prudential
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Voluntary Benefits on the Rise, But Require Even Greater<br />
Educational Support<br />
Many employers expect to compliment basic insurance benefits with a wider array of<br />
supplemental voluntary insurance benefits. Insurance coverage needs and options are<br />
more complex and voluntary benefits broaden the capacity of employers to provide<br />
coverage access.<br />
As employees are expected to select and pay for more of their benefits going forward,<br />
the success of these voluntary programs will depend upon employees receiving the<br />
necessary information and decision support tools to make the right decisions for<br />
themselves and their families.<br />
In addition, the brand and reputation of benefits providers will be increasingly important<br />
as employees decide whether or not to participate in voluntary plans based on their<br />
familiarity and image of a carrier. Often, employees may prefer to deal with companies<br />
they know and trust.<br />
PROJECTED INCREASE IN SPECIFIC VOLUNTARY <strong>BENEFITS</strong> <strong>OF</strong>FERED<br />
<strong>2006</strong> currently offer Total expect offering in next 18 months<br />
Disability insurance<br />
Life insurance<br />
LTC insurance<br />
35%<br />
47%<br />
39%<br />
48%<br />
16%<br />
25%<br />
Expected<br />
Change<br />
+12<br />
+9<br />
+9<br />
13