Challenges and opportunities for 2020 in Stop Loss Insurance

The term “work-life balance” has yet to lose its buzz in the last few years. This is partially due to the dominating presence of millennials in the workforce.

As the Stop Loss team at Voya Employee Benefits entered the 2021 renewal season, we heard questions and concerns around what a “new normal” could look like in regards to marketing and renewing Stop Loss policies.

Benefits aren't what they used to be. Decades ago, many people were covered by defined benefit pension plans. Some companies might have given retirees health care benefits for life.

Voya Employee Benefits helps self-funded employers respond with several strategies to contain costs.

When you think of industries that are nimble and able to adapt quickly, insurance and employee benefits may not be the first to come to mind. They’re prepared to manage risk, highly-regulated, and—in the employee benefits world—typically secured with annual contracts.

Once called the “slacker generation,” Generation X adults born between 1965 and 1979 are now active, happy and achieving a work-life balance, according to Purchasing Power’s “Guide to Generation X- Working with Them and Engaging Them.”

Stay up-to-date with our reader-friendly summary of new legislation related to state-specific short-term disability (STD), paid family leave (PFL) and paid family and medical leave (PFML) programs.