25 fascinating statistics about benefits
Benefits 4 minute read

25 fascinating statistics about benefits

Rise | March 8, 2018

Today’s employees want their health benefits to reflect their changing lives, and it’s on employers to respond to their needs. Providing health insurance, wellness benefits, and other forms of assistance as it relates to wellbeing to your people are necessary investments for your organization.

By accommodating the evolving workforce and offering employees the tools and resources required to help them live full and balanced lives, companies are becoming increasingly dedicated to their active role in supporting their people in the present and providing support for their future.

Read on for 25 fascinating benefits statistics relating to holistic health care, current trends in the benefits space, and nice-to-haves for the future of employee health and wellbeing.

Benefits Statistics

  1. Health insurance protects over 28 million Canadians. (Canadian Life and Health Insurance Association)
  2. In 2015, $84.2 billion (or $1.6 billion a week) in benefits were paid to Canadians, with the breakdown being $40.9 in retirement benefits, $32.2 in health insurance benefits, and $11.1 in life insurance benefits. (Canadian Life and Health Insurance Association)
  3. Employers agree that they have a responsibility for the health and wellbeing (61%) of their employees. (MetLife)
  4. 59% of employees say that health and wellness benefits are important for increasing loyalty to their employer. (MetLife)
  5. 37% of millennials and Gen Z employees with access to workplace health benefits feel their plan fully meets their needs. (Sun Life).
  6. Employees seek diverse benefit experiences that meets their needs (58%), adapts to new family structures (47%), and supports extended careers (43%). (MetLife)
  7. Employees' benefits knowledge (on copays, deductibles, service providers, and other coverage details) has declined in the past few years, down from 47% in 2015 and 39% in 2016 to 24% in 2017. (Aflac)
  8. Employees with access to workplace wellness programs (63%) and health-care spending accounts (60%) are more likely to be satisfied with their health benefits plan compared to those without those benefits. (Sanofi)
  9. More than 90% of employers provide full-time employees vision care coverage (92%), private or semi-private hospital accommodation (96%), out-of-country medical coverage (99%), paramedical services like massage therapy, chiropractic coverage, and physiotherapy (99%), major restorative dental services (98%), accidental death and dismemberment (91%), and long-term disability (99%). (Conference Board of Canada)
  10. 83% of group benefits providers are providing mental health programs as part of their services to employers, and almost 67% of providers expect to increase their programs and services. (Canadian Institutional Investment Network)
  11. Organizations provide paid time off for vacation (96%), for sickness (81%), for personal leave (33%), and for maternity leave (30%). (SHRM)
  12. 74% of employees agree that having insurance and benefits provides peace of mind for unexpected life events. (MetLife)
  13. 49% of employees want wellbeing programs that reward their healthy behaviour, but only 8% of employers offer such programs. (MetLife)
  14. 87% of Canadian workers agree that accessible and secure information-sharing between individuals and healthcare professionals would have a positive impact on the health of Canadians. (Telus Health)
  15. The types of benefits offerings which will be most common are health-care spending accounts (70%), flexible benefits plans (65%), employee wellness programs (61%), group RRSP (60%), tax-free savings accounts (52%), and defined contribution pension plans (50%). (Benefits Canada)
  16. When asked to identify benefits that will be offered in the future, executives cited help with childcare costs (40%), contributions to registered education savings plans (30%), assistance with student loans (28%), providing pet insurance (14%), and support to pay down mortgages (11%). (Benefits Canada)
  17. Plan members say the following plan enhancements could make their group benefits plans more relevant: increase in allowed visits to preferred practitioners (32%), personal financial planning (29%), increased psychological services coverage (28%), nutritionist coverage (24%), homeopathy coverage (18%), and digital solutions to interact with coverage (14%). (Sun Life)
  18. Plan members are interested in receiving information about managing their personal health conditions (65%), general health (57%), their medications (55%), and contact information for nearby health-care professionals (54%). (Sanofi)
  19. Health benefits plan members wish to boost their coverage for major dental services (25%), vision care (21%) and healthcare provider services (21%). (Sanofi)
  20. The most commonly provided health benefits include prescription drugs (86%), basic dental services (90%), paramedical services (89%), and life insurance (89%). (Sanofi)
  21. Benefits plans are less likely to cover preventative healthcare measures, such as adult vaccinations (36%), on-site health risk screenings (8%), pharmacogenomic testing (6%), and critical illness insurance (3%). (Sanofi)
  22. A preventative benefit in which employees are showing interest is coaching for nutrition (63%), personal health goals (61%) and managing chronic conditions (73%). (Sanofi)
  23. The top five challenges encountered by plan sponsors around their benefits plans include costs/affordability/return on investment (41%), meeting and managing employee expectations and needs (19%), having employees maximize use and understanding of the value of benefits (7%), the economy and lower interest rates (7%), and flexibility (6%). (Benefits Canada)
  24. Among employees that anticipate changing their plans in the next two years, the top change would be a restructuring of the plan design (39%), new or increased benefits (38%), and adding more benefits tied to wellness or illness prevention (36%). (Sanofi)
  25. 51% of Canadian executives expect benefits plans to be more generous by 2037. (Benefits Canada)

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