{"id":13441,"date":"2018-03-19T14:00:00","date_gmt":"2018-03-19T14:00:00","guid":{"rendered":"https:\/\/www.wellable.co\/blog\/pricing-top-criteria-for-employers-selecting-wellness-vendors\/"},"modified":"2022-10-11T23:11:52","modified_gmt":"2022-10-12T03:11:52","slug":"pricing-top-criteria-for-employers-selecting-wellness-vendors","status":"publish","type":"post","link":"https:\/\/www.wellable.co\/blog\/pricing-top-criteria-for-employers-selecting-wellness-vendors\/","title":{"rendered":"Report: Pricing Top Criteria For Employers Selecting Wellness Vendors"},"content":{"rendered":"<p>As the economy continues to show strength and with unemployment at its lowest point in years, finding and retaining quality employees is becoming more challenging. As a result, employers are expanding employee benefits, including health and wellness programs, to help their employees thrive and want to show up for work every day.\u00a0 To better understand the wellness strategy companies are implementing this year, Wellable surveyed health insurance brokers each year and published the findings in our annual <a href=\"https:\/\/resources.wellable.co\/2019-employee-wellness-industry-trends-report\" target=\"_blank\" rel=\"noopener\">Employee Wellness Industry Trends Reports<\/a>.\u00a0 As trusted advisors to employers, the survey respondents reflect the opinions of thousands of companies and millions of employees.\u00a0 Employers and brokers can use the report to make better benefits decisions to ensure they are creating competitive corporate wellness programs to address the needs of current and prospective employees.<\/p>\n<p><!--HubSpot Call-to-Action Code --><span id=\"hs-cta-wrapper-a5838ef3-587f-4ca9-be6b-1c7863b7d79c\" class=\"hs-cta-wrapper\"><span id=\"hs-cta-a5838ef3-587f-4ca9-be6b-1c7863b7d79c\" class=\"hs-cta-node hs-cta-a5838ef3-587f-4ca9-be6b-1c7863b7d79c\"><!-- [if lte IE 8]>\n\n\n<div id=\"hs-cta-ie-element\"><\/div>\n\n\n<![endif]--><a href=\"https:\/\/cta-redirect.hubspot.com\/cta\/redirect\/226537\/a5838ef3-587f-4ca9-be6b-1c7863b7d79c\"><img decoding=\"async\" id=\"hs-cta-img-a5838ef3-587f-4ca9-be6b-1c7863b7d79c\" class=\"hs-cta-img\" style=\"border-width: 0px;\" src=\"https:\/\/no-cache.hubspot.com\/cta\/default\/226537\/a5838ef3-587f-4ca9-be6b-1c7863b7d79c.png\" alt=\"2019 Employee Wellness Industry Trends Report - CTA - Large\" \/><\/a><\/span><script charset=\"utf-8\" src=\"https:\/\/js.hscta.net\/cta\/current.js\"><\/script><script type=\"text\/javascript\"> hbspt.cta.load(226537, 'a5838ef3-587f-4ca9-be6b-1c7863b7d79c', {\"useNewLoader\":\"true\",\"region\":\"na1\"}); <\/script><\/span><\/p>\n<p><!-- end HubSpot Call-to-Action Code -->One of the areas researched in the report was vendor evaluation.\u00a0 The surveys explored the main criteria employers use when evaluating wellness program vendors by asking \u201cWhat are your top criteria when evaluating wellness vendors (choose top 3)?\u201d\u00a0 The 2019 report\u2019s responses to the question are found in the chart below.\u00a0 Based on the survey results, two things are clear: (i) pricing is and remains the top criteria and (ii) customer testimonials and domain expertise don\u2019t really matter that much. Eighty-three percent of brokers felt pricing was a top three criteria when evaluating vendors, but very few felt customer testimonials and domain expertise were a top three consideration.\u00a0 The remaining criteria, which include customer service, flexibility, technology, and reporting, were effectively equally considered.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.wellable.co\/blog\/wp-content\/uploads\/2022\/08\/Corporate%20Wellness%20Vendor%20Evaluation.png\" alt=\"Corporate Wellness Vendor Evaluation\" width=\"555\" \/><\/p>\n<p>Employer size did change the importance of these criteria. Medium-sized businesses seem to be most price-sensitive, while brokers of large employers value flexibility\/customizability and technology more. Finding corporate <a href=\"https:\/\/www.wellable.co\/best-features-wellness-portals\" target=\"_blank\" rel=\"noopener\">wellness platforms<\/a> that can accommodate the organization\u2019s unique needs is essential for larger companies that have the budget and are more mature in their wellness programming. Customer service seems to be equally important to employers regardless of their size.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.wellable.co\/blog\/wp-content\/uploads\/2022\/08\/Corporate%20Wellness%20Vendor%20Evaluation%20By%20Employer%20Size.png\" alt=\"Corporate Wellness Vendor Evaluation By Employer Size\" width=\"561\" \/><\/p>\n<p><!--space--><\/p>\n<h3 id=\"biometric-screening-and-hras-falling-from-grace\">Biometric Screening And HRAs Falling From Grace<\/h3>\n<p>In addition to vendor evaluation criteria, the report also explored investment trends (where employers are investing their wellness budgets) as well as decision influencers (what factors employers consider the most when making benefits decisions).\u00a0 A notable trend the reports show is the decline in popularity in biometric screening. In 2018, 19% of respondents reported investing less in biometric screening solutions. This number increased to 29% in 2019.<\/p>\n<p>Similarly, companies are moving away from offering Health Risk Assessments (HRAs). In 2018, 25% of brokers reported that their clients are investing less in HRA solutions. This number increased to 27% in 2019. The number of brokers investing more decreased from 23% in 2018 to 21% in 2019. These two trends make sense, as research has repeatedly shown that biometric screening and HRAs do not improve employee health nor cutting down health care cost.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>We surveyed 105 health insurance brokers and published the findings in the 2018 Wellness Industry Trends Report. Employers and brokers can use the report to make better benefits decisions to ensure they are creating competitive wellness plans to address the needs of current and prospective employees<\/p>\n","protected":false},"author":1,"featured_media":13442,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13],"tags":[],"class_list":["post-13441","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-facts-and-research"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.6 (Yoast SEO v24.8.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Report: Pricing Top Criteria For Employers Selecting Wellness Vendors | Wellable<\/title>\n<meta name=\"description\" content=\"We surveyed 105 health insurance brokers and published the findings in the 2018 Wellness Industry Trends Report. 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