Traditional benefit packages are woefully outdated, and the time has come for producers to reimagine what that landscape should look like to help their clients secure better results.
Consider, for instance, that health insurance costs have soared 50% over the past 10 years, while employee contributions are up 71% and deductibles are up 150%, according to the Kaiser Family Foundation. Government research shows these increases have impacted those who can least afford them: bottom-quartile earners in the South saw a net decrease in pay of as much as $2,352 within that time frame as health insurance cost increases offset wage hikes.
