Voluntary Vision Plans Are Currently Growing at a Faster Rate Than Employer-Paid Vision Plans, According to a Recent Eastbridge Study

AVON, Conn.--(BUSINESS WIRE)--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.

Other findings from the report include:

• 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.

Data in the report (gathered from 14 different companies active in the market) includes:

• Product features (i.e., product type, benefit amounts, available options and riders, exclusions, unique product features)
• Provider networks
• Underwriting guidelines/eligibility parameters
• Commissions
• Enrollment methodology
• Future trends

In addition, five other carriers and vision companies that declined to participate in the interview were profiled in the report based on secondary source materials.

The report is now available for purchase for $2,000. Click here for more information about the report, including a table of contents. To purchase the report, call Eastbridge at [phone] or email [e-mail].

Eastbridge Consulting Group, Inc. is a marketing advisory firm serving insurance and financial services organizations in the United States and Canada.