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Employee Benefit Trends for 2023

employee benefit trends for 2023

2.5 minute read

Current labor changes are making employers find ways to balance the rising costs and inflation while providing employees with benefits they value and need. Understanding this year’s employee benefit trends can help employers assess if their offerings meet their employees’ demands and needs so that they can attract and retain talent.

6 Key Employee Benefit Trends

Employee Well-being

Many employees are experiencing elevated stress, burnout, and poor mental health due to inflation, increased job duties, and the lingering effects of the pandemic. Many employers enhanced their mental health and well-being benefits to better support workers in the pandemic and more are expected to prioritize employee well-being in 2023. Here are some things that employers are further investing in:


Health Care Costs

Reigning in health care costs while keeping benefits affordable is critical for employees in 2023. Planning and implementing multiple strategies to manage health care costs can help employers develop cost-saving strategies such as:

  • Investing in telemedicine
  • Modifying health plan designs
  • Improving health care literacy
  • Incorporating health care analytics
  • Incentivizing employees to seek cost-effective care options


Pay Transparency

Many states and localities have implemented pay transparency laws. And pay transparency is becoming more important to workers. Employers that provide pay transparency information tend to receive more applicants. By disclosing this information, employers can save time and money in recruiting by ensuring candidates won’t reject job offers due to insufficient pay. Employers may consider implementing practices such as published pay scales for their open positions.


Voluntary Benefits

Offering voluntary benefits can be an effective way to help workers avoid financial setbacks and stretch their dollars without raising costs. With voluntary benefits, employees can choose which benefits matter to them. Dental and vision insurance are popular voluntary benefits but nontraditional offerings are increasing in popularity as well. These include:

  • Critical illness insurance

  • Accident insurance

  • Pet insurance

  • Student loan repayment assistance

  • Identity theft protection

  • Disability insurance

  • Life insurance


Family Friendly Benefits

Many employers are increasing providing employees with family-friendly benefits, such as paid parental leave, paid adoption leave, and surrogacy benefits. Other support includes family planning assistance, high-risk pregnancy care, and pregnancy, lactation, postpartum, and menopause support.


Flexible Work Arrangements

One of the most effective ways to improve employee mental health and well-being is to find work-life balance. Some employers have helped employees by offering remote and hybrid work. This can also benefit employers on overhead costs and gives them access to a larger talent pool.



Current benefit trends can help guide employers as they strategize and take action. This will help employers to respond in meaningful ways to help keep employees healthier, happier, and more productive. Download the bulletin for more details.

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National Insurance Services is not a law firm and no opinion, suggestion, or recommendation of the firm or its employees shall constitute legal advice. Readers are advised to consult with their own attorney for a determination of their legal rights, responsibilities and liabilities, including the interpretation of any statute or regulation, or its application to the readers’ business activities.

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Nicole Miller

Nicole Miller

When it comes to employee benefits, Nicole Miller is a good person to have on your side. She’s worked in the insurance industry since 2004 and has experience working on both the insurance carrier/agency side. Her customers find her to be dependable, detail-oriented, and highly skilled at simplifying the complex. As Account Manager for National Insurance Services, Nicole works with Michigan schools, cities, and counties on their employee benefits, benefit communication, and wellness plans. She helps employees and employers answer policy-related questions, resolve employee claim issues with carriers, and assists with employee or insurance committee meetings. Nicole is a licensed insurance agent.