Video Summary
Allison Brown and Roger Thorpe of Thorpe Benefits discuss the ninth question in their series on building successful benefit plans: Is my plan as flexible as it can be? Roger emphasizes the importance of employee choice in modern benefit plan design. He outlines several factors contributing to plan flexibility, including balancing risk protection with convenience, employee education, addressing diverse needs, and being inclusive. Roger mentions the need for creative approaches that are still easily understood by employees. He cautions against adding new benefits solely because they’re trendy, stressing the importance of considering their long-term value. Roger highlights the significance of employee health and well-being in flexible plans, as well as the need for systems that allow employees to navigate health information and care options independently. He notes the industry efforts to provide services that support education and navigation. Allison agrees with the importance of supporting self-care journeys and reducing stress for employees in managing their benefits.
Chapters
Introduction to the ninth question on benefit plan flexibility
Allison Brown introduces the ninth question in their series on building successful benefit plans: ‘Is my plan as flexible as it can be?’ This sets the stage for the discussion on the importance of flexibility in modern benefit plans.
Balancing risk protection and convenience in flexible plans
Roger Thorpe discusses the balance between risk protection and convenience in benefit plans. He emphasizes the need for employee responsibility and good consumer behavior when using flexible spending accounts, highlighting the importance of employee education in this context.
Addressing diverse needs and inclusivity in benefit plans
Roger points out the increasing diversity of benefit needs and the importance of inclusivity in plan design. He notes that benefit plans have adapted well to these needs over the past two to three years.
Innovation and creativity in benefit plan design
Roger discusses the need for creative approaches in benefit plans, while ensuring that employees can understand and use these innovations effectively. He cautions against adding new benefits solely because they’re trendy, emphasizing the importance of considering their long-term value.
Importance of employee health and well-being in flexible plans
Roger stresses that employee health and well-being must be a part of the flexible journey in benefit plans. He highlights the need for systems that allow employees to navigate health information and care options independently, at their own pace.
Industry response to navigation needs
Roger notes that the industry has stepped up to provide services that support education and navigation through the healthcare system. He emphasizes that employees now expect help in navigating the complex healthcare system, beyond just having their claims paid.
Supporting self-care and reducing stress
Allison agrees with the importance of supporting self-care journeys and reducing stress for employees in managing their benefits. She emphasizes that while people want to go through the journey themselves, they still need support as it’s not always easy.