Large Employers Plan to Add Voluntary Benefits

Voluntary benefits are on the rise with large employers as a result of COVID-19, according to an Eastbridge survey. Twenty-five percent of employers with 1,000-2,499 employees are planning to add voluntary benefits in response to COVID-19. That figure is 34% for 10,000+ employers. 

Large employers are more likely to use multiple voluntary benefits carriers compared to employers overall. Almost half of 10,000+ employers use four carriers or more.

Product bundling and discounting are growing trends among large case carriers. Competition is heating up as more carriers target large cases. There’s more pressure to pay technology fees, reduce pricing, and add services such as integrated medical claims.

Nearly 80% of large employers want all benefits enrolled on a single platform or on their benefits administration platform. CoPower fits the bill for large employers by offering multiple voluntary benefits with a single service team and a single bill.