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27 April 2016

Employers embrace voluntary benefits role in financial wellness

Photo: Report cover"Employees are seeking holistic approaches to achieving their financial security," says Andy Sullivan, president of Prudential Group Insurance. "And our research shows companies are heeding their call and are widening their variety of voluntary benefits and increasingly working with employees to help them understand financial wellness."
In fact, over half of employers are likely to increase their voluntary benefit offerings in the next two years, according to findings from Prudential’s "Ninth Study of Employee Benefits: Today & Beyond." That’s good news for employees, the majority of whom agree that voluntary offerings increase the value of their overall benefits package. Despite this, employees who don’t participate in voluntary benefits cite the expense and perceived lack of need for more coverage as top reasons.
The research also showed that employers are increasingly looking to employee wellness programs and consumer-directed health plans as ways to manage benefits program costs.
"Employers want to control costs, but still maintain a competitive benefits package," Sullivan says—and for good reason. "Benefits programs can play a huge role in attracting and retaining employees."
Want more information? Read the report. Want to speak with Andy? Contact Sheila Bridgeforth.
Group coverages issued by The Prudential Insurance Company of America, Newark, NJ 07102.

© 2016  Prudential Financial, Inc. and its related entities. Prudential, the Prudential logo, and the Rock symbol are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide. 


Sheila Bridgeforth
phone: 973-802-6852
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