As medical and pharmacy expenses climb, large employers are adjusting plan design, limiting drug spending growth and expanding targeted support like caregiving and financial wellness benefits.
LIMRA research director Kimberly Landry said it's concerning that some workers, especially Gen Z employees, are reducing 401(k) contributions because of rising health insurance premiums.
Executives expect faster HR insight, which AI can support; what tends to lag behind, in many cases, is clear oversight around how the tools are being used.
Over half (56%) of the employees surveyed say financial stress negatively affects their work, and concerns over the effects of inflation and recession are causing 61% to reduce contributions to workplace benefits.
