Costs savings are coming from health care competition mentioned above, and from cost containment measures. Employees and applicants are placing a higher value on benefit plans than they have in the past. Benefit managers are responding by enhancing various benefit plans. Daily valuations, frequent reporting and a broad set of investment options are also the norm. Vision care plans are now almost as common as dental plans.
Daily valuations allow participants to monitor and change their fund balances on a daily basis.
The average number of investment options increased from an average of 5 funds, to over 7 funds. The average number of years of service required for full vesting dropped to 3.5 years. More companies are offering vision care benefits to their employees. EAP's provide basic counseling services to employees and family members. All rights reserved.