Dental and vision rank #2 and #3 in employee benefits
September 6, 2024
Employees rank dental and vision insurance as the second and third most desirable benefits following medical insurance, according to LIMRA research.1
Jimmy Valentine, Colonial Life Product and Market Development Director, believes consistent use of dental and vision benefits has contributed to their high ranking among employees.
"Many employees are likely to use their dental and vision benefits every year," says Valentine. "And when employees frequently use a benefit, they really value it. The trend we’re seeing is that employees rely on their dental and vision benefits for their overall physical wellbeing."
of employees said they would be extremely or very interested in dental insurance, ranked second after medical insurance.
of employees said they would be extremely or very interested in vision insurance, ranked third after medical insurance.
Source: LIMRA & EY, 2023 Workforce Benefits Study.
How different generations value dental and vision
Broad appeal across age groups: Benefits like dental and vision insurance are highly valued by millennials, Gen Xers, and baby boomers.
Unique trend among Gen Z: Notably, less than 50% of Gen Z employees said they highly valued their dental and vision coverage. One reason for this trend is that many Gen Z workers have an option to be covered by their parents’ plans until the age of 26, so there is no immediate need for these benefits.1
Insights in employee preferences and participation
Options and value: Many employees are looking for plans that offer options for value and improving their physical wellbeing.
Strong participation in dental Insurance: Nearly 70% of employees sign up for dental insurance when their workplace offers it.2 This is true regardless of whether the employer helps pay for the premiums.
Ease and clarity: Employees want to know upfront what their out-of-pocket expenses will be. They also want a straightforward process for bills with as little paperwork as possible.
Provider relationship: Maintaining relationships with current dental and vision providers is key, so many employees value plans that offer a broad provider network or flexible benefits for both in-network and out-of-network services.
Since dental and vision benefits are so popular and so frequently used, it makes sense for employers to make them a part of their competitive benefits package.
1 LIMRA & EY, 2023 Workforce Benefits Study.
2 LIMRA, In Focus: Workplace Benefits Dental insurance, 2023.