CBIZ’s 2024 State of Health Care Report Highlights Areas of Priority for Employer Benefit Plan Sponsors

CBIZ (NYSE: CBZ), a leading national provider of insurance, financial and advisory services, released its second annual State of Health Care Report. This year's findings highlight how critical it is for employers to offer health care benefits that are not only comprehensive but also specifically tailored to meet the changing needs and desires of the American workforce, highlighting the connection between such benefits and the ongoing challenge of attracting and keeping top talent.

Nearly 61% of respondents identified attracting and holding onto top talent as a primary strategic initiative. That was followed by 55% of companies which shared maintaining compliance and controlling medical costs were top priorities. Additionally, 40% of companies emphasize the need to improve their benefits communications, pointing to a significant gap in employees' understanding of their available benefits, with 33% indicating this as the most crucial area for improvement.

The State of Health Care Report includes responses from 338 businesses, spanning more than 27 states, the majority of which have more than 100 employees. 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 2024. A link to the full report can be found here.

"Our focus at CBIZ has been on not just meeting but anticipating the needs of our clients when it comes to tailored health care solutions,” said Polly Thomas, President of CBIZ Employee Benefits, Kansas City. “The insights from our State of Health Care Report reinforce the critical link between comprehensive benefits, effective communication, and strategic cost control. These elements are crucial for creating a work culture that both attracts and keeps top talent.”

The survey also sheds light on emerging trends and areas of innovation within health care benefits, pointing to new avenues for employers to enhance their offerings:

Responding to rising demand for weight loss medication: 17% of organizations offer weight loss medication coverage, with more than 15% considering it for future benefits packages. This highlights that employers are beginning to recognize the surging demand for employee wellness, a major theme of last year’s report.