VP at Beneva argues having personalized and competitive benefits helps make plan sponsors stand out from other employers
A benefits leader at Beneva is reminding plan sponsors that group benefits are becoming more than just a retention tool. They’re also a strategic differentiator.
After all, building a plan that’s both attractive and financially sustainable is getting to be extremely complex. Rising healthcare costs, drug prices, and evolving employee expectations are pushing plan sponsors into unfamiliar territory.
Benoit Bilodeau, vice president, sales and partner experience in group insurance at Beneva believes this isn’t a future concern but one that’s a present day pressure.
“Being in an environment where the workforce competition is to hire great people is such a challenge right now,” he said. “You have to be competitive on the group benefits plan and you have to be creative in what you offer to be able to differentiate yourself from other employers.”
Consequently, rising costs makes this a difficult balancing act. Bilodeau emphasized that medical benefit costs are increasing at a rate close to 10 per cent annually, far outpacing general inflation. That makes cost control a central concern.
As a carrier, Bilodeau views Beneva’s role is to help plan sponsors find that balance.
“We shouldn’t be there to sell plans. We should be there to support our clients and be able to answer those needs,” he said.
Bilodeau underscored that building an effective benefits strategy starts with putting the client at the center of every decision. For Beneva, Benoit underscored that “being client centric is an upmost priority and something that’s in our DNA,” adding that understanding both the insured members and the plan sponsors is key to designing plans that actually work for the people using them.
That focus on the end user means offering not just insurance products but clear communication, tools, and administrative support to make the process easier for HR teams and employees alike.
“Do we offer benefits that every [plan sponsor] can understand... and do we offer the tools making sure that their employees understand their benefits?” he asked.
Bilodeau sees HR departments often overwhelmed with daily responsibilities and needing strong partnerships from their providers. One way Beneva supports their plan sponsors is by owning the administration process through user-friendly platforms where employees handle their own enrollments, easing the burden on plan sponsors.
Flexibility also remains central to what clients want, but cost remains the counterweight. He believes offering health care spending accounts allow plan sponsors to meet both needs.
Healthcare spending accounts or wellness accounts are becoming more common as employers look to support broader aspects of employee well-being. The appeal of wellness accounts lies in the autonomy they offer employees, noted Bilodeau. They can be used for gym memberships, golf lessons, or other wellness-related expenses, which makes them “very attractive for employees, because they can use it as they want, whether for physical or mental wellness. It’s always well received,” he said.
When asked about what kinds of benefits employees are looking for today, Bilodeau acknowledged that telemedicine and Employee Assistance Programs (EAPs) as the most common. But he’s also quick to highlight emerging areas where demand is growing, particularly around mental health support and personalized treatment options.
One such option he pointed to was pharmacotherapy utilizations, referring specifically to pharmacogenetic testing. This type of therapy helps match patients with the right medication and dosage based on their genetic profile, which can lead to more effective treatment outcomes and reduce disability leave durations and is particularly valuable for employees dealing with mental health issues.
Another area gaining momentum is virtual cognitive behavioral therapy (CBT), which Bilodeau described as a convenient, accessible option for employees who may not have the time or ability to visit a therapist in person. These online therapy programs, guided by specialists, allow participants to progress at their own pace.
Both pharmacogenetic testing and virtual CBT are still relatively underutilized in the market, but Bilodeau said the demand is rising as employers look for benefits that go beyond traditional coverage and offer measurable impact, particularly in reducing absence and supporting mental health recovery.
Bilodeau believes the foundation of any effective benefits plan is simple: ask employees what they actually want. All too often, he underscored plan sponsors make assumptions without gathering direct input.
“You might want a perfect benefit plan, but if that doesn’t answer your employees’ needs, at the end of the day, you won’t create value,” he said.
He strongly encourages employers to start by conducting internal surveys to understand whether their workforce prioritizes flexibility, stability, or more traditional benefits. Beneva, he adds, actively supports clients in developing and launching these surveys so they can tailor plans to their specific employee base.
Once those insights are in hand, flexibility tends to emerge as the consistent priority.
In addition to flexible structures like health and wellness spending accounts, Bilodeau pointed to rising interest in optional benefits, such as life and critical illness coverage. He noted these add-ons are fully paid by employees but offered at competitive group rates and often with higher coverage maximums than would be available individually, sometimes even without medical underwriting.
“That’s something that now we receive more requests for: giving access to some benefits that they traditionally didn’t have access to,” he said, adding that offering these optional benefits is another way employers can deliver meaningful choice while keeping base plan costs under control.
