Competitiveness and sustainability top concerns for sponsors
2022 Healthcare Survey Shows Plan Sponsors Making Investments in Their Plans
The 2022 Benefits Canada Healthcare Survey reports on plan sponsors’ major areas of concerns, and plan competitiveness and sustainability top the list.\
In response to a tight labour market, almost one in three plan sponsors added or improved their benefits plan in the past year.
In the next three years, 75% of plan sponsors anticipate dedicating funds and/or staff resources outside of the health benefits plan to support employees in at least one wellness area, according to the Healthcare Survey. In line with previous years, investments in emotional or mental health were most likely (46%), followed by physical fitness (32%), prevention of illness and/or management of chronic conditions (30%), social health (28%) and financial health (26%).
The pandemic has helped shine the spotlight on the value of group benefits
Plan sponsors’ investments are paying off, with an increase in the percentage of plan embers who feel their plans is either excellent or good.
“It’s great to see more people saying their benefits plan is excellent or good,” says Vanessa Lycos, Vice President of Group Product and marketing at Empire Life. “We’ve made investments in our products and services —including Mental Health Navigator; telelmedicine, and Teladoc Medical Experts—to help people get faster access to care, so we’re happy to see these results.”