Are you heading into your next open enrollment worried about rising costs and increasing employee expectations? Many small and medium-sized businesses (SMBs) are. Health costs continue to climb, employees are catching up on care they postponed during the pandemic and workers are comparing benefit packages more closely than ever before.
This article will help you understand what is driving change, which employee benefits matter most right now and how SMBs can balance affordability with competitive offerings. By the end, you will see how PrestigePEO equips SMBs to provide access to premium employee benefits while controlling costs and simplifying the renewal process.
Here’s what you will learn:
- The forces shaping open enrollment and what they mean for SMBs
- The employee benefits that are now considered essential to attract and retain talent
- Why voluntary and lifestyle perks are moving from optional to expected
- How PrestigePEO connects SMBs to large-company benefits and ongoing support
Why Open Enrollment Will Be Different for SMBs
Three forces are colliding this year: sustained medical inflation driven by pharmacy and specialty drug trend, sharper employee expectations around well-being and the need to do more with less. Certain chronic-condition therapies (for example, GLP-1s) are part of the pharmacy story, but they are not the only driver.
The takeaway is simple: an average health plan plus a few add-ons will not cut it. Employees expect mental health access, commuter help if they are hybrid and real financial wellness support, and they compare offers across employers quickly.
The good news: telehealth, value-based programs through national carriers, digital care navigation tools and better employee health literacy can help control avoidable costs when paired with the right plan design.
Trending Employee Benefits SMBs Can’t Ignore
Beyond rising premiums, SMBs must address what employees now see as essential to daily life. National surveys show that organizations are expanding employee benefits that improve well-being, financial security and work-life balance. The following areas are shaping open enrollment conversations:
Mental Health & Wellness Initiatives
Virtual counseling, mental health apps and broader well-being programs are now table stakes for retention, not “nice to have”. Promoting virtual mental health included with many carrier plans can reduce unnecessary urgent care or ER use.
Family-Focused Offerings
Childcare assistance, enhanced parental leave, backup care and eldercare support are climbing the priority list as employers align employee benefits with real household needs. Options like Employee Assistance Programs (EAPs) and Flexible Spending Accounts (FSAs) can help cover dependent care expenses and provide guidance, making it easier for SMBs to address these growing expectations.
Financial Wellness Tools
Budgeting resources, counseling and student-loan support continue to gain traction as companies aim to reduce money stress and improve productivity.
Meeting Employee Expectations Through PrestigePEO
PrestigePEO’s benefits options routes employees to concrete programs that match what today’s workforce is asking for, while reinforcing smart, cost-aware care choices.
Mental Health & Wellness
What employees want: Easy access to counseling and real-life support.
PrestigePEO delivers: A National Employee Assistance Program (EAP) that includes counseling, wellness resources, crisis support and more, implemented by certified professionals, plus education on virtual mental health options available through many carrier plans.
Family & Caregiver Resources
What employees want: Support when caring for kids or aging family members.
PrestigePEO delivers: Caregiver resources through Motivity Care, offering live support, curated networks and tools that save time and reduce stress for working caregivers. In addition, the National Employee Assistance Program (EAP) and Dependent Care Flexible Spending Accounts (FSAs) give employees access to counseling and tax-advantaged savings options for childcare and eldercare expenses.
Financial Wellness
What employees want: Guidance, budgeting tools and responsible access to services.
PrestigePEO delivers: FinFit Financial Wellness includes personal assessments, online education and one-on-one financial counseling at no cost to the employee.
Voluntary & Lifestyle Perks
What employees want: Personalization that makes employee benefits feel “for me”.
PrestigePEO delivers: A broad suite of voluntary options and discounts, including pet insurance, identity protection, legal plans, home & auto discounts and more, so employees can tailor plans to their lives without increasing fixed employer costs.
How PrestigePEO Supports Today’s Employee Benefit Trends
| Trending Employee Need | How PrestigePEO Meets It |
|---|---|
| Mental health & wellness | National EAP with counseling, crisis response and well-being programs; carrier virtual care education |
| Family & caregiving | Motivity Care resources with live support and planning tools |
| Financial wellness | FinFit assessments, education and one-on-one counseling at no cost |
| Personalization & lifestyle | Voluntary employee benefits and discounts, including pet insurance, identity protection, legal services, home & auto |
PrestigePEO Gives SMBs Access to Premium Benefits
PrestigePEO, a professional employer organization (PEO), is built to help businesses of any size offer large-company employee benefits, simplify renewal decisions and support employees through every step, with an eye on what is moving costs.
Premium Plan Access
Medical through national carriers plus dental, vision, life, disability, HSAs and FSAs, so your team gets breadth and quality without enterprise headcount. Many carrier plans include telehealth and value-based options that encourage lower-cost access points.
Streamlined Planning & Renewal
The Benefits Renewal Portal lets managers model contribution scenarios, review potential renewal costs and submit final selections. Guides and webinars walk client managers and partners through each step.
Human Support, Not Call Centers
PrestigePEO emphasizes direct access to benefits specialists and responsive support, which removes friction during enrollment and throughout the year. Clear education on plan usage, networks and smart care choices improves employee health literacy and can reduce avoidable costs.
The Path Forward for SMBs
Different generations value different aspects of employee benefits. Younger employees often prioritize flexibility and mental health access, while more tenured team members may focus on financial stability, dependable coverage and caregiver support.
With PrestigePEO, businesses can offer a balanced portfolio that meets a diverse workforce where they are, without overspending.
Ready to align your employee benefits with what employees want? Contact PrestigePEO to talk about your plan options and budget.
