For the first time since the early 1980s, inflation is a sincere concern for U.S workers. As it drives up prices of daily necessities and diminishes the value of money already saved, "real" hourly earnings (wage growth minus inflation) have declined 3% since May 2021. That has the same impact as an across-the-board pay cut.

The impact of inflation can lead to increased financial stress for employees as they navigate economic uncertainty. How can employers help employees cope? By optimizing benefit offerings, employers can demonstrate they understand the financial pressures employees face – and provide solutions to help. This is especially critical ahead of open enrollment.

We work with hundreds of American companies to help their employees maximize the value of their benefits, and trends are emerging in the increased support employers are providing. Among our corporate partners, 72% offer a combination of traditional health and high deductible health plans, a 20% increase in two years. To help employees save for health care expenses, many companies are restructuring HSA plans from a fixed contribution to a company match. Some are also changing insurance carriers for more favorable pricing and adding medical plans.