Rising costs haven't deterred employers either. A 2010 survey conducted by Conrad Siegel Actuaries, a Harrisburg, Penn.-based actuarial and employee benefits consulting firm, shows that just under 75 percent of responding employers offered vision insurance to their employees, a 10 percent increase from 2008. For many employers, voluntary vision plans are one way to ease the burden employees are feeling over their rising health care costs.

"Because [employers] are passing increased costs to their employees for medical, many are adding vision coverage as an overall benefit enhancement," explains Kevin Hilst, senior vice president of sales and service at EyeMed Vision Care in Mason, Ohio. In other cases, Hilst explains, employers have been adjusting their contributions toward employee vision programs.

An untapped opportunity

Though employers have continued to offer voluntary vision benefits to their employees, many still underestimate the correlation between employee satisfaction regarding benefits and how employees feel about a company. According to MetLife's 2011 annual study of employee benefit trends, more and better access to benefits makes employees happier. Of employees who said they are satisfied with their benefits, 71 percent also reported a strong sense of loyalty to their company. Forty percent of employees say benefits are an important reason why they joined their company, and 60 percent say benefits are an important reason they remain with their current employer.

Despite these statistics, 40 percent of employers underestimate the interest employees have in voluntary benefits, according to MetLife. And all that speaks to vision coverage. "Employers do not understand the value of a good vision program," Elenze says.

Voluntary vision benefits remain a largely untapped opportunity, Akridge says, because many employers who have only a basic vision plan embedded in their medical benefit don't realize that a more comprehensive vision service could be available to them as a voluntary buy up.

A more comprehensive plan—say, including more robust eyecare and more eyewear offerings—can be attractive to employers and employees, but it's still an investment, one that employers may hesitate to make. "It's an untapped market because employees value vision coverage when it's offered to them—and are both able and willing to pay for it," Akridge says. "My clients see 80 to 85 percent enrollment when it's offered as a voluntary benefit or voluntary buy up. It's a win-win, since employees get their vision plan on a low-cost, pre-tax basis and employers save on the FICA tax on the amount of the premium."  

Saving on expenses

A 2010 study release by the National Association of Vision Care Plans indicates vision plan membership is on the incline and policyholders are utilizing eye exams at a higher rate. These findings indicate that consumers value and understand the wellness component and health benefits of their vision plans.

Perhaps more importantly, using eye exams for early detection of common diseases and treatment has the potential to save consumers money and time in the future.

Though employers want to stay competitive in the benefits arena and use benefits as a recruiting tool, "employers are sometimes surprised when I start talking to them about the potential impact eye-related issues can have for overall health and productivity," Akridge says. "Vision makes a lot of 'cents,' in terms of dollars-and-cents savings possible behind a premium vision plan that includes regular eye exams and sight-enhancing vision wear options such as photochromics or anti-reflective coatings—all at a low cost, especially when compared with medical premiums."

Annual comprehensive eye exams can potentially reveal the warning signs of health problems such as cardiovascular disease, hypertension and diabetes, according to EyeMed Vision Care. With diseases like diabetic retinopathy affecting more than 5.3 million Americans 18 and older, and an estimated 12,000-24,000 new cases of blindness related to diabetic retinopathy each year, according to the U.S. Centers for Disease Control, access to vision insurance and care is imperative.

But despite overwhelming evidence for the benefits of vision care and potential for early disease detection and prevention—which can potentially help consumers to save on other medical costs—nearly 40 percent of visually impaired Americans do not seek eye care due to cost and lack of insurance.

Furthermore, some insured consumers have been opting out of using the benefits they have enrolled in because they either don't understand the value of their vision benefits or because they need further education about their benefits, according to Transition Optical's 2011 annual employee survey. The survey showed that 30 percent of employees felt their company did not take appropriate steps to make sure benefits were understood. 

And that's where education fits in. Transitions Optical's annual research in 2010 revealed 32 percent of enrollees let their vision plan go to waste by not getting their annual eye exam (up 2 percent over the 2009 study). At the same time, employee dissatisfaction with their employers' vision benefit education methods is increasing.

A better understanding of benefits and their advantages is essential for helping employers and employees get the most out of their vision insurance. For brokers, it's important to emphasize the potential that benefits have to save a company money and help offset the financial burden over rising medical costs. The more than 50 percent of companies that currently offer vision plans, stand to save a collective $300 million annually in medical bills, compensation and lost work time due to eye injuries occurring on the job—not to mention, the reduction in work comp claims.

Vision care programs can be provided for a minimal expenditure—0.5 percent to 1.5 percent of the typical health care dollar, according to NAVCP. This minimal cost is an added incentive for employers to make available benefits that are important to the happiness and satisfaction to their employees. In stagnant economic times, reducing cases of lost productivity—as well as the potential for mistakes—due to eye problems and injuries, affects benefits companies where it matters most: their budgets.

Vision programs and eye exams increase productivity, Elenze says, as eye strain make employees prone to mistakes and less efficient, resulting in loss of productivity.

Looking to the future

To be successful, brokers need to find new ways to prosper while addressing potential changes due to health care reform. And while employers look at ways to keep their work forces healthy, brokers should keep them informed on how to do so—ways which include eye health.

"I've found that many brokers don't take the extra step to make sure their clients are informed about the actual health value of their vision coverage, and I feel they are missing a critical opportunity," Akridge says. "As a health care professional, I feel I need to do due diligence to promote a healthy work force, and that means talking to clients about how eye health ties into overall health, and the importance of educating employees about the value of their plan beyond discounts on an exam or pair of basic eyeglasses."