Provisions could expand employer access to plan data, create a new coverage purchasing option, and soup up health savings accounts.

"By taking a realistic look at your health status and health care expenses as part of your overall retirement plan and budgeting accordingly, you position yourself to enjoy a less stressful, financially healthier retirement," the report said.

The majority of employees (85%) are experiencing significant workplace stress, almost one-third (29%) fear they can't make ends meet on a full-time salary, and 81% say they have some desire to change careers entirely.

The hybrid life/LTC model answers the needs of a broad spectrum of employees while simplifying administration.