Understanding Voluntary Participation Rates Spotlight™ Report
Cost: $3,500; published 2024
The ultimate measure of a successful voluntary benefits enrollment is the participation rates for the products employers offer. The 2024 Understanding Voluntary Participation Rates Spotlight™ provides comparative data on the participation rates of carriers active in the voluntary market. Topics include:
- Participation rates by group size
- Participation rates by product line
- Participation rates by product line by case size
- Participation rates by enrollment methodology
- Impacts on voluntary participation rates
- Strategies to improve participation rates
- Future trends
It is important to note that while carrier participants were not able to provide data on all measures, this report provides a valuable snapshot for carriers to compare their own results to others in the industry. Where appropriate, the report also compares findings to the 2020 and 2017 report.
View Table of Contents
1. Executive Summary
A. Report Objectives
B. Key Findings
C. Methodology
2. Detailed Carrier Findings
A. General Carrier Information
1. Voluntary Products Offered
2. Group vs Individual Platform Sales
B. Voluntary Participation Rates
1. Method of Calculation
2. Average Participation Rate Changes
3. Participation Rate Requirement Changes
4. Participation by Group Size
5. Participation by Product Line
6. Participation by Product and Case Size
7. Participation by Enrollment Method
C. Impacts on Voluntary Participation
1. Participation and Core Enrollment
2. Participation and “On- or Off-Ballot” Enrollment
3. Use of Decision Support Tool
4. Off-Cycle Enrollment Participation
5. Active Enrollment Requirements and Participation
6. Participation and Online Product Sequencing
7. Ideal Working Conditions
8. Basis for Participation Requirements
9. Participation Results Compared to Pricing Assumptions
10. Action if Participation Requirement is not Met
11. Maxed Out Accounts
12. Most Important Factors Limiting Participation Improvement
13. Future Changes to Improve Participation Rates
14. Importance of Improving Participation Rates
15. Future Expectations for Participation Rates
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Spotlight™ Report Index
For more information, please contact us at [email protected] or (860) 676-9633.