EXCLUSIVE: 86% cite reasonable cost as major factor when choosing healthcare benefits

EXCLUSIVE: Reasonable cost (86%) has remained the largest influencer when choosing to buy, or continue to offer, benefits since this question was first asked back in 2006, according to research by Employee Benefits.

The Employee Benefits/Health Shield Healthcare research 2019, which surveyed 202 HR decision makers and influencers, also found that for the second consecutive year, the range of benefits offered by a provider is the next biggest influence below cost.

This factor has risen steadily in importance in recent years, overtaking elements such as employee engagement, respondents’ desire to support employees, and a wish to be seen as an employer of choice.

This year, 69% base their benefits decisions on a provider’s product range, compared to 75% that did the same in 2018 and 51% in 2017. A desire to streamline the benefits offering or an awareness of the efficiencies of scale may be behind this trend.

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