Alera Group’s 2021 National Healthcare & Employee Benefits Benchmarking Survey reveals pandemic’s long-term impact on employers
Alera Group, a top independent, national insurance and wealth management firm, today announced the results of the 2021 Healthcare & Employee Benefits Benchmarking Survey. The annual nationwide study provides insights into benefit and plan trends, as well as strategies employers are implementing to offset rising healthcare costs and overcome talent acquisition and retention hurdles.
Trends from the survey highlight the enormous impact of the COVID-19 pandemic on employee benefits. Key findings include:
- Telemedicine benefits prevail: More than 90% of employers are integrating telemedicine benefits with their medical plan as utilization of virtual care stays strong. Employee assistance programs (EAP) follow telemedicine as the most commonly offered health and productivity benefit offered.
- Human capital challenges increase: New questions included in this year’s survey reveal that benefits costs, employee retention and the shortage of quality candidates weigh most heavily on employers of all sizes.
- Cost-containment strategies remain top of mind: With the cost of medical plans continuing to increase, the majority of mid-sized companies are now providing resources for employees to help assess and manage medical costs.
“Staffing shortages and the increase in telemedicine and employee wellness programs illustrate the long-term effects of the pandemic on today’s employees and employers,” said Sally Prather, Executive Vice President and Employee Benefits Practice Leader at Alera Group. “Through this analysis, we hope to provide business executives with the tools, insights and analysis to increase employee satisfaction and engagement while also improving overall benefits offerings and keep rising costs in check.”
“This report offers a comprehensive look at the challenges and opportunities facing executives and HR managers across the country,” said Lai-Sahn Hackett, Vice President of Market Research at Spring Consulting Group, an Alera Group company. “With Alera Group’s findings, employee benefits advisors like us can offer more inclusive and competitive benefits plans to employees that ultimately help overcome recruiting and retention challenges.”
Alera Group conducted this online survey from March 24 through June 18, 2021. More than 2,500 companies across the United States participated, up from 2,000 in 2020. The aggregate report with a summary of key findings will be available during Alera Group's Grow Through Benchmarking webinar on August 11. Please contact your local Alera Group firm or email firstname.lastname@example.org to be connected with a benchmarking expert who can answer your questions.
About Alera Group
Alera Group is an independent, national insurance and wealth management firm with more than $650 million in annual revenue, offering comprehensive employee benefits, property and casualty, retirement services and wealth management solutions to clients nationwide. By working collaboratively across specialties and geographies, Alera Group’s team of more than 2,500 professionals in more than 100 offices provides creative, competitive services that help ensure a client’s business and personal success. For more information, visit www.aleragroup.com or follow us on LinkedIn.