Voluntary vision plans are growing at a faster rate than employer-paid vision plans, according to a recent Eastbridge study. Over 60 percent of the carriers and providers participating in a recent survey indicated that voluntary vision is at least 50 percent or more of their overall vision sales. Eastbridge’s latest report, Voluntary Vision Products, examines the current state of the voluntary vision market from the standpoint of providers/carriers. The majority of carriers expect the voluntary vision market to continue growing in enrollment and importance as employers look for benefit cost-cutting opportunities and benefit flexibility and determine the impacts of health care reform.
Most carriers anticipate positive and often double-digit growth for 2012.
Differentiation for voluntary vision plans is primarily driven by variable plan choices and customization levels.
With the implementation of health care reform, companies anticipate having to consider/make both needed and required changes to their existing voluntary vision products.