The Next 3 Years In Employee Benefits

‍Think Advisor recently made some prognostications about what kind of changes can be expected in the employee benefits space over the next few years.

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First, the author predicts that remote work is going to become a long-term fixture in the business world, noting the pushback to many highly-publicized ‘back-to-office’ initiatives that has led to considerable compromise on the part of even seemingly resolute employers. 

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The increasing importance of portable benefits is another trend on the rise as employees are requesting access to supplemental individual health and life insurance policies that can stay with them in the event they find work somewhere else. 

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The article also notes that technology has significantly reduced processing time, which was previously one of the main advantages that group plans have held over individual plans, and enables the inclusion of a much wider array of voluntary benefits offerings without meaningfully increasing the required administrative work, so the shift in compensation toward benefits is likely to continue, as well.

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You can find that piece here.