Executive Summary: Online Eye Tests Research Transitions Employee Perceptions of Vision Benefits Survey

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1 Executive Summary: Online Eye Tests Research 2018 Transitions Employee Perceptions of Vision Benefits Survey

2 Overview Since 2010, Transitions Optical has conducted consumer research to better understand employee perceptions, purchase decisions and usage of vision benefits. Insights from the surveys have helped to inform brokers and HR professionals on how to deliver vision plans that improve employee eye health, job satisfaction and overall productivity and well-being.

3 Methodology An online survey was conducted by Wakefield Research on behalf of Transitions Optical in December 2017 among 1,300 nationally representative U.S. adults, ages 18+, employed full-or part-time, whose employers offer vision benefits.

4 Key Takeaway 1: Employees Do Not Understand Online Eye Tests There is a tremendous lack of understanding among all employees regarding online eye tests including what these tests entail and when it s appropriate to use them. 2 in 3 employees are unfamiliar with online eye exams, and nearly HALF say they are very unfamiliar. HALF of Gen Z and Millennial employees incorrectly believe that online eye exams are a suitable replacement for an in-person, comprehensive eye exam with an eyecare professional.

5 Key Takeaway 1: Employees Do Not Understand Online Eye Tests 1. How familiar or unfamiliar are you with online eye exams? Response Total Gen Z Millennial Gen X Boomer Very familiar 15% 12% 23% 11% 8% Somewhat familiar 17% 27% 18% 16% 13% Somewhat unfamiliar 23% 27% 23% 25% 18% Very unfamiliar 45% 34% 36% 47% 61% Quick Facts Familiar (net) 32% 52% 51% 51% 45% Unfamiliar (net) 68% 48% 49% 49% 55%

6 Key Takeaway 1: Employees Do Not Understand Online Eye Tests 2. How strongly do you agree or disagree with the following statement: Online eye exams that provide glasses or contact lens prescriptions are a suitable replacement for in-office eye exams. Response Total Gen Z Millennial Gen X Boomer Agree Strongly 15% 20% 23% 12% 6% Agree somewhat 25% 34% 27% 25% 20% Disagree Somewhat 31% 26% 27% 33% 37% Disagree Strongly 28% 20% 23% 30% 37% Quick Facts Agree (net) 41% 54% 50% 37% 26% Disagree (net) 59% 46% 50% 63% 74%

7 Key Takeaway 2: Employees are Interested in Coverage of Online Eye Tests The research found that employees are interested in coverage of online eye tests and that this coverage could potentially lead to an increase in vision benefits enrollment. Half of employees that are not currently enrolled in a vision benefits plan said they would be more likely to enroll if their plan offered full coverage of online eye exams. All generations agree although Gen Z employees are slightly more likely to agree.

8 Key Takeaway 2: Employees are Interested in Coverage of Online Eye Tests 3. How strongly do you agree or disagree with the following statement: I would be more likely to enroll in a vision plan if it fully covered online eye exams. (Asked among those who are not currently enrolled in vision insurance) Response Total Gen Z Millennial Gen X Boomer Agree Strongly 18% 18% 20% 18% 14% Agree somewhat 32% 34% 31% 33% 31% Disagree Somewhat 31% 32% 28% 35% 29% Disagree Strongly 19% 16% 21% 15% 26% Quick Facts Agree (net) 50% 52% 51% 51% 45% Disagree (net) 50% 48% 49% 49% 55%

9 Key Takeaway 3: Coverage of Online Eye Tests May Increase Vision Benefit Utilization The survey found that offering full coverage of online eye exams could potentially increase utilization of vision benefits among employees. 6 in 10 employees say they d be more likely to get their eyes checked more often if their vision plan offered full coverage of online eye exams. Millennials are the most likely to say this (67%) and Baby Boomers are the least (45%).

10 Key Takeaway 3: Coverage of Online Eye Tests May Increase Vision Benefit Utilization 4. How strongly do you agree or disagree with the following statement: I would be more likely to have my eyes checked more often if my vision plan fully covered online eye exams. Response Total Gen Z Millennial Gen X Boomer Agree Strongly 23% 17% 29% 21% 16% Agree somewhat 34% 33% 37% 35% 29% Disagree Somewhat 26% 30% 19% 27% 33% Disagree Strongly 18% 20% 14% 18% 22% Quick Facts Agree (net) 57% 50% 67% 55% 45% Disagree (net) 43% 50% 33% 45% 55%

11 About Transitions Healthy Sight Working for You Transitions Healthy Sight Working for You is a public education initiative created to increase awareness of the need for quality eye care and eyewear through premium vision benefit offerings. The program offers: Content for benefits brokers, employers and employees Education and tools to show how using a vision benefit can: Manage health care costs Boost productivity Increase employee satisfaction Learn More: HealthySightWorkingforYou.org

12 for additional inquiries on the survey findings.