2016 Employee Benefits Enrollment Study Results Released
Princeton, NJ, August 14, 2016 – Lodestar and alliance partner Customer Benefits Analytics LLC (CBA) today released key results from Who Buys Benefits And Why: 2016 Employee Benefits Enrollment Study. The research, based on a survey of over 2,700 of full-time employees in mid-sized and larger employer organizations, explored the drivers of decisions to enroll in (or waive) ten commonly offered voluntary benefits – medical, dental, vision, life, short and long-term disability, critical illness, accident, hospital, and wellness.
The research was completed in part to validate and refine CBA’s proprietary healthcare benefits predictive analytics platform, but also to explore broader employee attitudes and perceptions of voluntary benefits and the employers and insurance carriers that offer them. Results were initially shared with senior marketing, product, and thought leadership executives in large insurance organizations which helped sponsor the research.
Lodestar CEO Dr. Tom Nelson commented, “We are delighted to have the opportunity to partner with Customer Benefits Analytics to explore the drivers of employee benefits-related decision-making. The findings around employee confidence in their decisions, satisfaction with benefits offered, and other issues will be of great value to carriers, brokers, and employers alike in planning for the future and supporting employees in making more informed benefits decisions.”
CBA Founder and CEO Patrick Toner added, “Lodestar’s consumer research experience brought an important customer-centric perspective to this employee benefits market research. The findings give in-depth insights covering 10 different types of benefits that enable marketers to deliver the right products and messages to increase benefits enrollment.”
Lodestar is an advisory services firm that helps clients create, manage, and utilize information and intelligence of all kinds to solve complex business problems. Our work has two goals: improve business performance and drive growth.
The firm is built around six major practice areas – marketing research and decision sciences, information management, innovation, marketing effectiveness, strategy acceleration, and customer experience management. We also offer specialized services in areas such as competitive intelligence, technology scouting, intellectual property assessment, future forecasting, performance measurement, marketing effectiveness, ROI assessment, strategic planning, sales force effectiveness, and go-to-market strategy.
Lodestar works with Fortune 1000 and SMB clients across a variety of industries, including financial services, healthcare and life sciences, media, publishing, technology, professional services, manufacturing, and the public sector.
About Customer Benefits Analytics
Customer Benefits Analytics connects employees to the right benefits by using advanced analytics modeling of consumer-level data to provide rich customer insights and in-depth targeting. Our prescriptive analytics optimize participation rates and premiums from benefits enrollment. User-friendly dashboards put customized, data-based recommendations at the fingertips of marketing, enrollment, and sales professionals.
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