The majority of US employers today offer this important ancillary benefit — here’s why
Roughly six-in-10 US employers (62%) offer vision insurance. This number has nearly doubled since 2016, when only 35% of businesses offered this important ancillary benefit.
Vision Insurance Statistics – Who Offers Vision Plans?
Companies have made progress in ancillary benefit programs. But the companies who offer vision insurance vary widely based on the type of business, according to data curated by HealthSureHub.com from the US Bureau of Labor Statistics and other sources.
Who is already offering vision coverage, and where are the best broker opportunities to fill this risk gap?
- 70% of public employers
- 57% of corporate employers
- 44% of companies with more than 500 employees
- 34% of private industry companies
- 22% of companies with fewer than 100 employers
Savvy brokers can spot coverage gaps, especially in smaller businesses and private companies. These are the clients that can benefit from a bundled plan. The DBL Center can help your clients save money on required benefits like statutory disability insurance and paid leave, and roll the savings into highly desired benefits like dental and vision insurance and other types of ancillary benefits.
Having Trouble Zooming In? Here’s Why Vision Coverage Is Important For All Ages
Most of us know what happens to our eyes as we age. We begin pulling out our smartphone flashlight in dimly lit restaurants to read the menu. We move our phones, books, and paperwork farther from our face to read smaller print. And someone keeps shrinking the instructions on packaging!
But eye health isn’t just a concern for older workers.
A report from OvernightGlasses.com revealed that “doomscrolling,” or endlessly surfing social media feeds on your phone, can cause eye-burning, vision issues, headaches, and dry eyes.
While 64% of Americans admit to doomscrolling, that number spikes to 81% of Gen Z. Even as little as 20 minutes of scrolling, at any age, can cause issues.
Another culprit linked to eye strain? Video conferences and virtual meetings. OvernightGlasses.com optometrists recommended limiting meetings to one to two hours a day and taking breaks between.
Based on scientific studies, a report from Versant Health projected that 58% of Americans will have myopia, or nearsightedness, by 2050. So, corrective vision coverage, including glasses, contacts, and LASIK surgery, will be even more important for workers of all ages as years go on.
Employees Want Vision Insurance to Cover Recurring Annual Costs – But Don’t Understand the Offerings
Eyeglasses or contacts are a main driver to vision plan adoption in companies that offer the benefit. When you present vision coverage as their broker of choice, you want to be clear about the options provided, including choices in frames, lenses and providers.
Gen Z workers are especially interested in high-tech options, including blue-light filtering lenses, prescription smart glasses, and virtual eye care options, according to Versant Health.
Employees Often Delay Eye Exams
Eyestrain, headaches, and poor vision are exacerbated when employees wear glasses or contact lenses that may not be the right prescription.
Yet, Americans tend to avoid vision care or regular check-ups due to cost concerns or a lack of time. In a survey by Versant Health, a Gen Z health care worker stated, “I feel like physical health over eye health definitely beats it for me.”
Education Is Key: Employees Don’t Understand the Importance of Eye Health
Most people have a vague understanding that regular eye exams can offer important insights into overall health and play a key role in preventative care. But it’s not always clearly outlined by doctors, eye care professionals — or insurance brokers sharing the advantages of vision benefits.
Only 30% of consumers understand that some eye exams may help diagnose diabetes, and 25% know they can detect hypertension, according to Versant Health.
Educating employees and business owners on the advantages of regular eye exams beyond getting the right corrective lenses is a key to benefit adoption.
Vision Benefits Increase Employee Loyalty
Eyeglass and contact lens wearers may hesitate to leave a company that offers good vision benefits. Vision care costs can add up to thousands, annually, especially for families with more than one corrective lens-wearer.
A good vision plan is a strong retention tool, especially for companies who employ many workers over 40 or people of any age with families.
Save Money on Vision Benefits with Multi-Line Discounts
You may be surprised by how affordable a good vision plan can be when you take advantage of multi-line discounts with The DBL Center Ltd.
If your small business clients already offer ancillary benefits like long term disability or dental insurance with one of our premier carriers, they can enjoy the savings of a solid vision plan, as well.
Contact The DBL Center if you see the advantages of vision coverage as part of an ancillary benefits package for your clients.
FAQs
What is vision insurance and how does it work?
Vision insurance is an ancillary benefit that offers reduced out-of-pocket costs for eye exams, prescription glasses, contact lenses and other treatments that may not be covered by health insurance.
What are the key benefits of a vision insurance plan?
A vision insurance plan offers free or discounted corrective lenses and eye exams. Employees should speak to their insurance broker or benefits advisor to find out what else may be covered.
What does vision insurance cover vs. health insurance?
A health plan may cover cataract surgery, glaucoma treatment, vision loss due to diabetes, and other medically necessary treatments related to the eyes. Vision insurance covers corrective lenses, eye exams, and preventative care.
Contact The DBL Center, Ltd. if you see the advantages of vision coverage as part of an ancillary benefits package.
