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We anticipate that a hyper-competitive job

Benefits Looking Ahead Guide provides insights

market will remain the number one issue

and identifies trends in key areas that are

for companies of all sizes. For mid-sized

shaping the way we think about and structure

employers, their benefit packages must be

employee benefit programs.

equally competitive to achieve their strategic business goal: attract and retain talent to support ongoing business growth. However, as we head into a pivotal year, we must reflect on two equally important considerations that impact this business goal: what we know and what we don't know.

Trends Shaping Benefit Offerings A key theme throughout our Looking Ahead Guide is who is in your workforce now, and what they need to support their health, well-being, lifestyle, and dependents. You

The Impact of Economic Factors and Upcoming Elections

will find that not only are there distinctly

What we don't know is how economic factors

medical advancement at a rapid pace, private

and elections will play out in the coming year. Election results tend to have a lag effect that will impact a multiyear benefits strategy and we anticipate employers will spend time in 2020 creating "What if?" scenarios to evaluate their long-term plans. Our Woodruff Sawyer Senior Compliance Officer, Jennifer Chung, Esq., offers advice in her article, "Election Year 2020: What Might it Mean for Benefits?" to help you understand potential scenarios that may impact your strategy. Fortunately, the category of what we do know is rich with opportunity to explore new strategies or refine those already in place for

different generations in the workforce, each has different needs and employer expectations. Now add technology solutions, equity investments focused on healthcare, price transparency and consumerism, and a cost trend that will continue to escalate unless well managed. This is a fluid and dynamic landscape with many options available to employers. To complement our marketplace knowledge, we asked several healthcare insurance carriers we work with for their insights into the coming year. In many instances, they echoed market realities of rising costs, the need for improved access, and the value of new options that improve health while enhancing employee experience.

the 2020 plan year. This third annual Employee

EMPLOYEE BENEFITS LOOKING AHEAD 2020 | WOODRUFF-SAWYER & CO.

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Profile for Woodruff Sawyer

Looking Ahead: Employee Benefits Trends and Solutions in 2020  

Read our annual Looking Ahead Guide for insight into the 2020 employee benefits marketplace, including election impact, attracting and retai...

Looking Ahead: Employee Benefits Trends and Solutions in 2020  

Read our annual Looking Ahead Guide for insight into the 2020 employee benefits marketplace, including election impact, attracting and retai...

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