CBIZ – Health Care Study 2023

CBIZ Health Care Survey Shows Employers Prioritize Recruiting and Retaining
  Talent in Hot Job Market

  Survey also finds employers are prioritizing stemming the rising costs of
        medical plans and the inclusion of mental healthcare services

Business Wire

CLEVELAND -- March 15, 2023

CBIZ (NYSE: CBZ), a leading national provider of insurance, financial and
advisory services, released its inaugural 2023 State of Health Care survey
that shows recruiting talent (67%) and retaining talent (64%) as top
priorities for employers, trends driven by a hot job market despite concerns
of a recession later this year.

The State of Health Care survey includes responses from 869 businesses with at
least 100 employees, spanning 41 states and 26 industries. The survey provides
insight into employer priorities, top health plan features, and emerging
mental and physical health benefit trends to watch through the remainder of
2023.

“Employers continue to show an eagerness for recruiting the best and the
brightest talent and to identify and retain those employees who have the best
growth trajectory,” said Jay Meschke, President of CBIZ Talent & Compensation
Solutions. “Since 2020, employers have had to respond quickly to drastic
shifts in social and economic conditions and this year will be no different.”

Controlling medical costs is a top priority for 49% of businesses. This comes
as industry experts project a six to eight percent increase in employers’
health care costs due to rebounding utilization, or rising use of medical
providers, and the rise in prescription drug costs. Cost-containment
strategies businesses are implementing include reference-based pricing,
alternative funding arrangements and enhanced use of telemedicine.

Polly Thomas, Business Unit President, Employee Benefits added: “The survey
showed that emerging trends and the priorities in the health care and benefits
spaces are changing. This data will serve as a guide for businesses looking to
modernize their benefits programs that mitigate risks and costs, while
improving their employees’ health care experience.”

The data was assessed from an overall perspective, as well as based on company
size and industry. An interactive infographic with the results is available on
the CBIZ website. Additional key findings include:

  * Almost 35% of employers that don’t offer mental health wellbeing resources
    through their plans are open to considering options –  Despite opting to
    provide coverage plans that do not offer certain mental health services,
    nearly 35% of businesses indicated they would like to learn more about
    offerings for mental health programs. Interest surpassed consideration of
    other offerings like weight management (18.7%) and financial wellbeing
    (14.7%).
  * The majority of businesses provide mental health resources for their
    employees –  80 percent of employers offer mental health resources through
    an employee assistance program, while 68 percent provide counseling
    through their medical plans.
  * Nearly two in three businesses offer a wellbeing program for employees –
    With retaining talent being the second most valued priority for the
    employers surveyed, 61.9% are looking to attract and retain
    high-performing employees in part by offering a comprehensive benefits
    program that includes a wellbeing component.
  * 82% of employers include options for virtual behavioral health
    consultations –  Employers are providing workers with increased options to
    meet with their medical professionals, both as a convenience and to help
    mitigate health and safety concerns amid the ongoing impact of COVID-19.