Apr 21, 2023
Happy, healthy, cared-for employees are more loyal, productive, and complimentary of their employers, and employees have baseline expectations for health insurance products offered as part of their compensation. Blue Cross® and Blue Shield® of Arizona (BCBSAZ) reports a 2022 uptick in small businesses offering health insurance for the first time.
Joe Greenberg, the Vice President of Commercial and Specialty Business at BCBSAZ, observes that:
"Here in Arizona, we have experienced consistent and very high offer rates for employers with more than 50 employees but, unlike the national trend, we are seeing many new small businesses offer health insurance that were not offering coverage before."
Data indicates that, during 2022, approximately 30% of BCBSAZ's new sales to small businesses (employers with fewer than 50 employees) were from groups that did not offer health insurance during prior years.
In addition, employees are increasingly looking for ways to engage and take control of their health. For examples, employees are interested in coverage for behavioral health, cancer, diabetes, wellness, and condition management. In addition, they are seeking additional consumer-facing capabilities for managing their health and wellness.
No matter the size of the employer, health insurance benefits are a big deal to employees. Benefits are a major contributor to talent acquisition and retention. BCBSAZ suggests that employers think of health insurance benefits as less of a cost and more of an investment, one that will result in higher quality employees.
There are many available products and solutions that are designed to improve your clients' employee experiences while managing their employer costs. For more information, contact your Amwins Connect Sales Representative today.
