Reinventing vision benefits from the ground up

Against the backdrop of the “Great Resignation,” over 65% of workers say they’re on the hunt for a new job where they can find better benefits. For organizations, there’s never been a more urgent need to reshape the employee benefits landscape to attract and retain your top talent. 

While many organizational leaders have adjusted policies to embrace hybrid work or extend medical benefits to others in employees’ households, there’s still one glaring blind spot in many packages: vision care.

Studies have shown that 87% of employees would be more likely to stay at a company that offered high-quality vision benefits, such as coverage of premium lens and frame options. However, many organizations still offer just one choice: traditional vision insurance. The problem? It’s costing employers tens of thousands of dollars a year in under-utilization costs — just 14% of the workforce uses its vision benefits to obtain glasses and 10% for contacts each year. 

XP Health is superior to offering traditional vision insurance for employees because they offer “a better experience, lower costs, quicker turnaround, and cool technology that’s very easy to utilize.”

- Paul Jorgensen, SVP, Doximity and XP Health advisor 

Just how costly can traditional vision insurance be for your people? For a family of four, the average price of doctor-recommended glasses exceeds $306 at what is considered a 3000% markup, even after applying traditional vision benefits. Add in the premiums and a family of four is typically spending over $1,000 with vision care and vision insurance. 

“What makes XP Health unique is they can provide an end-to-end solution from the vision exam to the glasses. Vision insurance is not really insurance, as there is no risk of a medical claim. Vision insurance providers are just providing the administration of managing the claims up to maximums pre-set in the plan so really not providing much value other than taking off the administration from the employer and giving the appearance of a provided benefit.  Vision insurance also doesn’t sell glasses. They have to work with third parties, so XP Health has an advantage of cutting out the middleman and can save employees and employers money in the process.” 

- Vijay Rao, SVP of People, Okta, and XP Health advisor 

What about workers who don’t need prescription glasses but want to take advantage of your vision benefits? Offering traditional insurance alone won’t help these workers. Sixty-five percent of Americans suffer from digital eye strain, which causes headaches, blurred vision, and wreaks havoc on productivity — but doctor-recommended lenses like blue light or UV coating aren’t covered by insurance.

“XP is going to change the way vision benefits are provided. XP is not just for prescribed eyewear. It’s for what benefits should aim to assist with: prevention of serious conditions;  like covering blue light lenses, for example.”

Michael Kinsman, ancillary benefits expert

XP Health is here to solve these issues and more. XP is a disruptive add-on to supplement your traditional vision insurance offerings which helps you provide every employee and their family with access to the care they need at an affordable price. With XP, you can provide a revolutionary vision benefit that employees will love while reducing your company’s vision costs by 65%. Companies powered by XP Health see an average increase of 50% in utilization!

“XP Health is better than traditional vision insurance as they remove the middleman from the supply chain in getting eyewear, and the eyewear is top of the line name brand and much less expensive for the employee as an out-of-pocket expense. In addition, the process to navigate traditional vision insurance to get eyewear is a cumbersome process managed through multiple websites with an inferior user experience to XP.”

- Vijay Rao, SVP of People, Okta and XP Health advisor

Looking to modernize your company’s vision benefits? 

Learn how you can bring XP Health to your company today.