Vision benefits may be one of the least expensive coverages on your benefits budget, but they make a big impact on employee satisfaction and eye health!
93% OF EMPLOYERS OFFER VISION INSURANCE
While most employers offer vision insurance, only 6% made it a core focus of last year’s annual enrollment.
Plan Design
- $10 Eye Exam Copay Is the most common, offered by 49% of employers; 23% of employers have no eye exam copay.
- $125-$150 Frame Allowance Is the most common, offered by 54% of employers
- $100-$125 (18%) and $150-$200 (18%) are other common offerings
Employer Considerations
From exams to eyewear, vision benefits keep employees seeing and feeling their best. Making small adjustments to your vision plans can be an inexpensive way to increase the value and competitiveness of your benefits program—especially as 72% of employers say it’s harder for employees to afford benefits than two years ago, and 14% are enhancing overall benefits to improve talent attraction and retention.
- Enhance frame allowance If your plan is at the low end (<$125), consider raising it to stay competitive in today’s talent market.
- Offer premium lens options Anti-glare, blue-light filtering, and/or progressive lenses add value without major cost increases.
- Consider partial employer funding Moving from 100% employee paid to shared contribution may increase participation or satisfaction as well as address cost concerns.
- Highlight health benefits Vision exams can detect early signs of chronic conditions like diabetes and hypertension, reinforcing the importance of good eye health in overall well-being.
- Promote the plan Increase education about the plan to ensure employees maximize the value of their benefits.
If you'd like to discuss Vision Benefits or any other Employee Benefits contact your Wells Insurance agent today!
Information provided by Assurex Global. Used with permission.
