Let's talk about the benefits that employees really want. Accompass' report Fresh Perspectives on Group Benefits: The Latest Thinking From Plan Sponsors, Members, and Insurers, asked working Canadians which health benefits were top of their list. Find out more below.
Prescription drug coverage and dental coverage are seemingly most important to working Canadians. These health benefits are tied for first and trailing 14% ahead of the runner up (paramedical). Prescription drugs and dental expenses can add up quickly without proper coverage.
Although paramedical coverage, for expenses such as acupuncture, chiropractic and nutritionists was considered desirable by a fraction of employees (16%), it doesn't appear to compete with the aforementioned health benefits.
The Benefits Canadian Employees Want Most
30%- Prescription drug coverage
30%- Dental benefits
7%- Vision care
Canadians Value Costly Benefits
Canadians value prescription drug coverage at the top of their list. Of course, prescription drug trends also drive plan expenses more than any other benefit. As such, trends in drug plan use, costs, and controls are important ones to monitor.
For this reason, we ask Canadian insurance companies each year about their group benefit offerings, with a primary focus on drug coverage and cost-management solutions.