Fidelity Health Care Benefit Trends 2022
Presentation by Ben Isgur, Vice President, Health Care Thought Leadership, Fidelity Health Solutions, addressing key employer benefit trends and insights on the health industry and employee experience. An overview of how employers can get more from their health benefit investment. Employers made big investments in digital health benefits during the pandemic. It was necessary. Health systems had to limit access, employees were sheltering at home, and the mental and physical strains of the pandemic were spreading throughout our communities. The necessity of health access was the mother of the digital health explosion. The transformation from a largely brick and mortar health system to a digital system is necessary, but without more work to provide the right benefits, education, and tools, it will not be sufficient. To realize the full value of their digital health benefits, employers should measure value based on employee satisfaction. Employee well-being increases when offered key benefits. To realize the full value of their digital health benefits, employers should Illuminate the value of year-round use. A recent Fidelity survey found that FEWER THAN 40% see the value of digital health care benefits BUT, our research also found that, if an employee has used a digital health benefit NEARLY 2/3 see its value. Virtual health options for employees are now a necessary part of health delivery and need to be optimized for the best consumer experience. While some employers may think providing the benefit equals good access and care, the data reveals this is not always the case. To support employees with virtual health benefits and ensure that your investment in digital health benefits is realized. Provide education and communication to help ensure they are using the right access point. Reduce health disparities by making sure employees have the technology to support virtual care. Provide real-time feedback options to monitor experiences. Optimize employee care integration by ensuring virtual care records are sent to primary care physicians. Ben Isgur VP, Health Care Thought Leadership Fidelity Health Solutions benjamin.isgur@fmr.com
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Fidelity Health Care Benefit Trends 2022
- 1. FIDELITY INTERNAL INFORMATION HEALTH CARE BENEFIT TRENDS H E A L T H S O L U T I O N S T H O U G H T L E A D E R S H I P How employers can get more from their health benefit investment
- 2. Employers made big investments in digital health benefits during the pandemic. It was necessary. Health systems had to limit access, employees were sheltering at home, and the mental and physical strains of the pandemic were spreading throughout our communities. The necessity of health access was the mother of the digital health explosion.
- 3. The transformation from a largely brick and mortar health system to a digital system is necessary… …but without more work to provide the right benefits, education, and tools, it will not be sufficient
- 7. To realize the full value of their digital health benefits, employers should... Measure value based on employee satisfaction Employee well-being increases when offered key benefits Health savings account Most impactful when offered Chronic illness management Online health decision tool Most impactful when used Wellness program Source: Fidelity Investments, Uncovering the real value of the benefits you offer, March 2020. Mental health Flexible spending account Telemedicine
- 8. To realize the full value of their digital health benefits, employers should... Illuminate the value of year-round use A recent Fidelity survey found that FEWER THAN 40% see the value of digital health care benefits¹ BUT, our research also found that, if an employee has used a digital health benefit NEARLY 2/3 see its value¹ 1 Fidelity Investments Employee Value of Benefits Research online survey of 9,465 active Fidelity 401(k) and 403(b) participants from across the United States. The survey was conducted by Health Solutions Thought Leadership in October 2019.
- 9. EXPAND REMOTE HEALTH CARE ACCESS Virtual health options for employees are now a necessary part of health delivery and need to be optimized for the best consumer experience. While some employers may think providing the benefit equals good access and care, the data reveals this is not always the case. To support employees with virtual health benefits and ensure that your investment in digital health benefits is realized: Provide education and communication to help ensure they are using the right access point Provide real-time feedback options to monitor experiences Reduce health disparities by making sure employees have the technology to support virtual care Optimize employee care integration by ensuring virtual care records are sent to primary care physicians
- 10. Fidelity Internal Information Thank you! Ben Isgur VP, Health Care Thought Leadership Fidelity Health Solutions benjamin.isgur@fmr.com
- 11. Fidelity Internal Information Important Information Fidelity reserves the right to modify or cancel any concept designs being displayed. This information is general and educational and should not be construed as an offer to sell or a solicitation to buy any product or service, or as legal or tax advice. Not all products are available in every jurisdiction. Information provided is for informational purposes only. Although this material may reflect currently available functionality, it may discuss concepts being considered for future development. The proposed functionality identified is subject to a number of variables, including business reprioritization, that could impact the timing and sequencing of items. All items are subject to change or cancellation. Fidelity Brokerage Services LLC, Member NYSE, SIPC, 900 Salem Street, Smithfield, RI 02917 © 2021 FMR LLC. All rights reserved. For plan sponsor use only. 998337.1.0