Future of Benefits

 

Disconnected is dated

For too long, the workplace benefits experience has been too complex, too confusing, too disconnected and dated. It’s time to evolve the experience to deeper connections, insights and impact. And that ability starts with Voya.

Key opportunities:

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Improve financial
outcomes
 

Helping employees maximize their savings potential, and employers achieve a better return on their benefits spend 

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Boost employee
engagement 

Helping employees make smarter benefits decisions, utilize benefits more fully and be more appreciative of their benefits package

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Save time with a simplified experience 

Reducing the time, energy and complexity associated with managing and optimizing multiple benefits from multiple vendors

What if benefits decisions made today could help employees save for their future retirement?

Decision-making biases do not always serve us well — particularly when making health insurance benefit decisions. Claims and financial wellness data suggests that many individuals make suboptimal benefit decisions that lead to overspending in one area while being under-saved in another.

Finally, employees can get personalized enrollment decision-making support that factors in their complete financial picture. 

Enrollment decisions can be overwhelming. Many employees respond by simply rolling over benefits year-to-year. Could they spend their benefits dollars better? myHealth&Wealth™ is designed to help them find out. It includes personalized education for:

  • Health plan selection
  • Health savings accounts 
  • Retirement savings 
  • Emergency savings 
  • Supplemental health insurance 

 

Learn more about myHealth&Wealth.

Giving participants what they need to see the big picture and act on it

If you think it’s challenging to look at benefits in a big-picture way rather than a set of siloed decisions, you’re not alone. That behavioral tendency is called “narrow framing” — and it leads people to focus on a limited slice of their overall financial picture. 

Fortunately, there are nudges and interventions that can help. Learn more insights from the Voya Behavioral Finance Institute for Innovation.  

Read the research.

 

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What if you could connect your workplace savings solutions?

Avoid the headache of disconnected experiences. Voya’s Workplace Savings Solution harnesses the value of our retirement, nonqualified, health savings account and emergency saving solutions individually to deliver a connected experience with added efficiency and value.

We think it’s time to simplify, sync up and personalize the experience.

You offer a variety of solutions to support employee financial health. Help them see it in a holistic way with a workplace savings solution that features a more connected experience. Voya’s offering brings the following solutions together into a single-sign-on experience for both the employer and the employee:  

  • Retirement Plan
  • Nonqualified Deferred Compensation Plan
  • Health Savings Account 

Emergency Savings are also offered alongside this package, as well as a decision support tool to help the employee decide how much to contribute, and where. 

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What if claims payments could be automated for covered events? 

Employee benefits don’t matter if they aren’t utilized. But, we get it. Filing a claim may be the last thing eligible employees want to do when they've experienced a covered illness, accident or hospitalization. That’s why we created Voya Claims 360 — to support better employee benefits utilization, engagement and education.

 

Insurance is underwritten by ReliaStar Life Insurance Company (Minneapolis, MN) and ReliaStar Life Insurance Company of New York (Woodbury, NY), members of the Voya® family of companies.

Connect employees to their covered benefits and help them make the most of their coverage.

Wouldn’t it be great if insurance claims were paid automatically when employees experience a covered event? In some cases, they can be.

Voya Claims 360 uses intuitive claims models and medical claims integration* to help anticipate and identify eligible benefit opportunities, based on an employee's active coverage. We want employees to get the most out of their coverage, so they can turn their attention to what matters most.  

See the results

 


 

Ready to learn more about Voya’s connected offerings?  Talk to Us

 


 

Featured insights and perspectives

10 ways Voya is innovating to better participant and plan sponsor experiences

Read Article

Webinar replay: Finding value in integrated workplace savings solutions

Watch Webinar

Financial Wellness meets Behavioral Economics

View Findings

Unlocking the natural connections between health benefits and retirement services

Read Article

Rethinking how to prepare for the unexpected: 5 protection options employees may not know they have

Read Article

Webinar replay: Helping employees see the bigger picture and act on it

Watch Webinar

Infographic: How overspending on health care could impact saving for retirement

View Infographic

A new retirement mindeset: 4 solutions to help employees to rethink retirement planning

Read Article

Evolving workplace benefits and savings decisions to year-round moments that matter

Read Article

*Medical claims integration is available for specific coverages only and employees must opt in during enrollment.

This information is provided by Voya for your education only. Neither Voya nor its representatives offer tax or legal advice. Please consult your tax or legal advisor before making a tax-related investment/insurance decision.

Products and services offered through the Voya® family of companies.

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