{"id":464275,"date":"2021-03-24T09:18:14","date_gmt":"2021-03-24T13:18:14","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=464275"},"modified":"2021-03-24T09:18:14","modified_gmt":"2021-03-24T13:18:14","slug":"benefitfocus-state-of-employee-benefits-2021-report-highlights-importance-of-benefits-to-diverse-workforce","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/benefitfocus-state-of-employee-benefits-2021-report-highlights-importance-of-benefits-to-diverse-workforce\/","title":{"rendered":"Benefitfocus State of Employee Benefits\u2122 2021 Report Highlights Importance of Benefits to Diverse Workforce"},"content":{"rendered":"
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Analysis of four years of benefits enrollment data shows trends in plan offerings and the impact of COVID-19<\/h2>\n

PR Newswire<\/p>\n<\/p><\/div>\n

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\n CHARLESTON, S.C.<\/span>, March 24, 2021<\/span> \/PRNewswire\/ —\u00a0Benefitfocus, Inc.<\/a>\u00a0(NASDAQ: BNFT), an industry-leading benefits technology platform that simplifies benefits administration for employers, health plans and brokers, has released The State of Employee Benefits\u2122 2021 report, an analysis of employee benefit plan design and participation highlighting key trends that are shaping the future of the benefits ecosystem.<\/p>\n

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According to the report, enrollment in high-deductible health plans (HDHPs) as well as voluntary benefits, specifically income protection products, increased as employers continued to diversify and enhance their benefit offerings for 2021. The report took its findings from millions of actual enrollment transactions occurring on the Benefitfocus platform.<\/p>\n

“The State of Employee Benefits provides a clear picture of how employers maintained their strategic focus on employee engagement and controlling health care costs. It also highlights, in the midst of the COVID-19 pandemic, how employers are approaching benefit plan design, offering more consistency in workforce benefits planning and better addressing employees’ total wellbeing,” said John Thomas<\/span>, Chief Data Officer of Benefitfocus. “With the long-term impacts of the pandemic still largely unknown, our unique data capabilities help us identify enrollment and engagement trends that can help guide employers to adapt their benefit strategies accordingly.”<\/p>\n

Based on its analysis of the compiled data, the report concludes: “There was a clear trend upward for expanding benefit offerings as a way to differentiate in a competitive job market leading up to 2020. If anything, employers took a more paternalistic approach in 2021, continuing to offer more benefits and absorbing health plan cost increases to keep things consistent for employees. At the same time, employees took more advantage of savings opportunities and income protection.”\u00a0 <\/p>\n

Among the report’s key findings:<\/p>\n