STUDY OF EMPLOYEE BENEFITS: 2006 & BEYOND - Prudential

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The Progressives Progressive Employers Expand Web Tools for Benefits Administrators Transactional tools such as billing, managing retirement plans, and claims inquiry are more likely to be used by progressive employers and will be even more widely available by 2010. EXPECTED AVAILABILITY OF WEB TECHNOLOGY FOR EMPLOYERS BY 2010 Progressives All Firms 2006 2010 2006 2010 Access billing info 58% 78% 44% 60% Review/Process DC plan deferrals 69% 77% 57% 63% Check claims status 57% 76% 48% 58% Access claims forms 65% 73% 52% 61% Handle enrollment 57% 71% 51% 64% Process employee eligibility info 63% 70% 45% 59% Receive updated eligibility info 57% 69% 43% 59% Access reports 58% 68% 54% 61% Submit claims 50% 64% 35% 56% Pay bills 48% 63% 40% 56% Integrate payroll processing 48% 62% 41% 55% 34
Progressive Employers Value Personalized Communications Most progressive employers (94%) say it’s important to tailor benefits information to individual employees. Progressive employers (63%) are also more willing to share employee information to enhance communications. EMPLOYER ATTITUDES TOWARD PERSONALIZED EMPLOYEE COMMUNICATIONS Progressives All Firms Point Difference Providing personalized communications is “highly important” 94% 52% +42 Willingness to share/use employee information for 63% 39% +24 personalized communications Progressives Are More Likely to Outsource More than half of progressive employers (58%) plan to outsource their medical/pharmacy and non-medical insurance programs by 2010. Almost seven in ten progressive employers (67%) plan to outsource their retirement programs. EMPLOYERS EXPECTING TO INCREASE ADMINISTRATION OUTSOURCING ACTIVITY BY 2010 Progressives All Firms Point Difference Retirement plans 67% 37% +30 Non-medical group insurance plans 58% 40% +18 Medical/Pharmacy plans 58% 43% +15 35
Page 1 and 2: PRUDENTIAL’S GROUP INSURANCE STUD
Page 3 and 4: Welcome The cost of employee benefi
Page 5 and 6: Methodology This study surveyed a b
Page 7 and 8: Benefits Matter Eight in Ten Plan S
Page 9 and 10: Commitment to Benefits Spans Most C
Page 11 and 12: Benefits Decision Making Is Increas
Page 13 and 14: The Gap Among Top Financial Concern
Page 15 and 16: Voluntary Benefits on the Rise, But
Page 17 and 18: Most Plan Sponsors Do Not Require C
Page 19 and 20: Plan Sponsors and Participants Are
Page 21 and 22: Employee Concerns Extend Beyond Fin
Page 23 and 24: Interest in Lifestyle Benefits Vari
Page 25 and 26: Positive Online Outlook Online Tool
Page 27 and 28: Web Technology is Empowering Employ
Page 29 and 30: Plan Sponsors Want Enhanced Perform
Page 31 and 32: Criteria for Progressive Plan Spons
Page 33 and 34: Progressives Are More In Sync with
Page 35: Progressives Also Outpace Other Com
Page 40 and 41: Summary of Key Findings Theme One:
Page 42: About Prudential Financial Currentl

STUDY OF EMPLOYEE BENEFITS: 2006 & BEYOND - Prudential

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