#3: Price and value are the most important factors for mid-size employers when choosing a voluntary carrier — but they’re far from the only key considerations.

A strong majority of these employers also rate many other factors — the quality of enrollment and communication materials, carrier support with communication and enrollment, and easy benefits administration — as extremely or very important. Also high on the list are the availability of tools and benefits advice, a reputation for high quality, and the availability of self-service options for employers and employees. In contrast, mid-size market advisors don’t list price as one of the top three criteria they consider in carrier selection. Instead, they lean more toward administration and service, product benefits and features, and integration with their client’s enrollment and administrative needs.

#4: Online services are increasingly important to mid-size employers.

More than two-thirds of medium-market employers say they won’t use a carrier that doesn’t offer online administration, or that having those capabilities definitely influences their decision, a significant increase from the previous survey of this group. Only 2% of mid-size employers say online services don’t matter to them. The most critical online services are those that help their employees: the ability to file claims, check claims status, find forms and materials, and view the benefits available on the products they purchase.

#5: Mid-size employers tend to use a voluntary carrier that provides one or more of their core products.

One reason for this may be that all mid-size brokers surveyed for Eastbridge’s 2024 “Rising Tide for Brokers in Voluntary Benefits” report say they sell voluntary products from the same carrier that provides employer-funded group products such as life and disability coverage. A strong majority of these brokers (87%) always or often bundle voluntary products with that carrier, and most say they bundle products at least occasionally with the carrier they use for the employer’s medical plan.

Instant Insights /

5 reasons the mid-size voluntary market offers a big opportunity for advisors

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