Analytics-based benefits design will continue to grow in the near future as employers continue to seek ways to reduce costs while improving both engagement and outcomes.
Technology and data frequently go hand in hand to power the latest innovations in the benefits industry. New solutions as well as evolving applications of existing technology and data analytics continue to emerge at a rapid pace, making it critical that brokers and benefits specialists stay on top of the latest trends in this space in order to help their clients make informed decisions about how to implement programs that will be most effective for their workforce.
Related: How artificial intelligence can enhance benefits programs
Read on to learn more about the top trends currently impacting health and benefits:
1. Personalization
While not necessarily new, this is one trend that continues to evolve and demonstrate its value. Utilizing data, including claims, user behavior and more, enables programs to identify gaps in care and create targeted outreach and communications to more effectively connect with employees. These communications can encourage employees to address medication adherence issues, prescription savings opportunities and recommendations to participate in programs or utilize tools that might be beneficial, among other personalized messages to take positive behavioral steps toward better health and well-being.
A 2016 Health Advocate study found that 40 percent of employees cite the lack of “communication personalized to my specific health needs” as a core flaw in their organizations' benefits and wellness initiatives. Accustomed to the increasingly individualized experience brands in retail, travel and hospitality are laser-focused on offering, employees expect more from their corporate benefits programs.
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