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Unaffordable medical bills, higher deductible health plans, and confusing billing statements have caused an increase in physical and mental health issues for a majority of insured Americans.

Heading into the new year, perceived coverage gaps, flexibility, and affordability receive more attention as companies weigh prioritizing value versus shifting costs. 

Workers without emergency savings score 15 points lower than the average in a recent mental health survey, leaving employers to realize the significant value of workforce resources and support in financial wellbeing, according to TELUS Health (formerly LifeWorks) data

The Choose Medicare Act, which has been introduced in Congress, would increase health coverage by 3.6 million people, according to the Urban Institute, which conducted a study on the new coverage and its cost effects.

State programs also are focused on expanding benefits and addressing social determinants of health.

Once a leader in the shift away from defined benefit plans to defined contribution plans in the U.S. in the '80s and '90s, the tech giant is now taking a different approach by switching employees to a Retirement Benefit Account.

The annual contribution limit for flexible spending accounts will rise to $3,200 in 2024, an increase of $150 from this year, the IRS recently announced.

"Cognitive strain caused by multitasking and overwhelmed employees is costing companies more than they realize," says Jennifer Kraszewski.