A year ago, employers and brokers were grappling with worker recruitment and retention, alternative workplace arrangements and the lingering effects of the pandemic. Little did they know that 2022 would bring record inflation, several court decisions and regulatory actions with far-reaching implications.
"Our clients, like all companies, are getting hit from all directions with skyrocketing costs, from materials to wages," says Suzy Alberts, account director for Comprehensive Benefits Inc. in Southfield, Michigan. "When you pile on often double-digit increases to their health insurance plans, this only exacerbates the issues. However, benefits are vital to attracting and retaining employees. Our challenge is to bring solutions that manage the cost without stripping the benefits. Adding enhanced benefits that support the core benefit plans can make all the difference in employee satisfaction."
As the year winds down, industry leaders are looking back on recent developments and ahead to the challenges and opportunities of the coming year. Even by the standards of the fast-changing benefits industry, 2022 has been eventful, with the economy becoming top of mind for most employers.
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