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Workplace benefits whether it's a corporation,
a Fortune 500 company
a state and local government
they really form the backbone of financial security.
I get life insurance through my company
so I'm very grateful for that.
I'm really grateful
that my employer The State of California
offers a long-term health care.
I also have a disability
short term and long term disability through my employer.
Providing benefits through the workplace
is absolutely critical because
frankly a lot of individuals would not be protected
against the types of risks they need to protect against.
Because what happened is
that more and more you know
individuals are not really buying outside workplace.
Of the top five 5
you know,key benefit concerns that employers have
3 of them are in the cost area.
In particularly health care costs are foremost
in the minds of many head of HR and Benefits Managers.
I think funding, expense levels, and optimization
are 3 challengers
that plan sponsors face.
They're trying to make these plans more effective
they're trying to make sure that their employees
are taking full advantage of the offerings.
Education is critical.
Individuals do not understand what they need.
So offering a plan that is well understood
and well appreciated,
And as an industry we have to make it
easy for them to do that,
we have to make it cost-effective,
because they are vital to ensuring that,
you know, the typical American household
is protected against the types of things they should be.
So what we're seeing is we're seeing a shift
more and more to voluntary benefits.
Legal coverage, group insurance, long-term care insurance,
dental insurance,
and they are willing to pay for those things
that are most important to them
and the employees get to choose.
So they're able to reduce their costs
but at the same time offer these valuable benefits.
The challenge everybody is attracting talent.
My employer does offer a lot of benefits
that was one of the reasons I went to work for them.
They'd like a compelling value proposition.
They'd like choice and flexibility.
If the rest of the companies offer
plans that are less robust
all things being equal
I'm gonna work for a company
that has the high-quality benefits plans.
And gets me out of bed
is the thought that the work we do
how we partner with the employers
that we work with
how we deal with their challenges
how we help to influence the decisions
that their employees make.
To see people understand
and they are actively taking action.
The employer has a more relevant plan
to get people the kinda benefits that they need
I'm Vishal Janin.
I'm Kevin Myers.
I'm Jim Gemus.
I'm Sharon Taylor
and I am helping to build
the next generation of workforce benefit plans.