News and Industry Insights

NFP US Benefits Trend Report 2024

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Trends in Employee Benefits: Key Takeaways

Employers are facing new challenges with legislation and ballooning costs.

65%

of employers see price transparency as a challenge.

 
18%

of employers see price transparency as an opportunity.

 
76%

of employers report that it is either very or extremely important to establish a best practice fiduciary policy and practice in 2024.

 
21%

of employers plan on increasing their benefits budget by at least 10%.

76%

of employers are concerned about increasing pharmacy costs. However, 31% do not use a pharmacy consultant.

Employees are struggling with stress and the current economic environment — and employers have an opportunity to better support them.

33%

of employees report feeling distracted at work by non-work issues.

 
58%

of workers are interested in mental fitness programs such as resiliency training or meditation programs.

 

Employees need lower cost options that meet their needs, and more support in choosing benefits.

42%

of employees feel their benefit offerings don’t meet their needs well.

 
37%

of employees do not feel confident in their ability to select the benefits that best meet their needs.

 
56%

of employees note that economic concerns will impact their benefits decisions.

 
38%

of employees feel that economic concerns will cause them to choose a lower-cost plan.

 
50%

of all employees have $1,000 or less in savings to cover the cost of unexpected expenses.

 
 

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