Open enrollment period might be the perfect time for another company-wide activity –- health screenings. Employees are already thinking about benefits and organizations can capitalize upon this opportunity to conduct a successful screening program. Screenings have the potential to provide significant savings for employers and employees by catching serious problems early and helping avoid future healthcare costs.
Approximately 140 million people in the U.S. have one or more chronic conditions. Yet fewer employees visit their physician annually. Health screenings can bridge that gap and encourage more active participation in health related activities. Continue reading →
This is a good time for organizations and employees to do a little fall cleaning and run through a healthcare checklist to make sure they are aware of the most current HSA/FSA benefit information. Continue reading →
Does your health and wellness program have one of the most important elements to make it successful this year? Flu shot initiatives can yield one of the biggest returns on investment by keeping employees healthy and not missing work. Continue reading →
A new entrant into the healthcare marketplace looks to help address the shortage of physicians anticipated by 2025 – a 90,000 physician shortage to be exact, according the medical school and teaching associations.
Along with those numbers, the Bureau of Labor Statistics adds that healthcare practitioners and healthcare support positions are expected to be the fastest growing jobs from now until 2024. Registered nurses are on both lists, expected to be in shortage and among the fastest growing positions. Continue reading →
Employers considering a financial wellness program may find their timing perfect. Employee financial wellness has been on the decline over the past several years. According to a 2016 Bank of America Merrill Lynch survey the number of employees who are not at all secure about their finances rose from 31% in 2013 to 41% in 2016. Continue reading →
Ready for another generational difference? Try food allergies. According to the Centers for Disease Control and Prevention, food allergies among children have increased by about 50% between 1997 and 2011. Experts note that kids are not growing out of their food allergies, so employers need to be prepared as this group is just beginning to enter the workforce.
Currently, there are already approximately 15 million people with food allergies. As employees, many may struggle to manage their symptoms at work. Providing health insurance is an important benefit for allergy suffers as is making reasonable accommodations if necessary for certain employees. Continue reading →
It’s a challenging period for companies around open enrollment time. Human Resource professionals and benefit teams may be wondering if they’ve done everything possible to make this a successful event within their organization. They have a long list of goals that must be accomplished and often with limited time and resources.
A solid benefit communications plan can help prepare and engage employees. Today’s health plan and benefit options are often complicated to understand and require breaking information down into bite-size pieces. Benefit professionals must also connect with remote workers, reach spouses and create relevant messaging for a multigenerational workforce. Continue reading →
Dealing with uncertainty surrounding the ACA exchanges remains a prominent concern now as there is no new movement on federal repeal and replace legislation currently. Just as the employer market is gearing up for open enrollment, so are insurers and states considering their participation in exchange markets across the U.S. Questions are arising about the stability of the marketplace based on how many plans will participate and how fast premiums will increase.
Insurer participation will not be finalized until the fall, however expert analysis of premium increases for proposed 2018 premium changes in the exchanges are ranging from -5% decrease to 49% increase with common double digit increases for benchmark silver plans. These proposed increases might in part stem from ambiguous federal government statements around the $7 billion in cost-sharing reduction (CSR) subsidies and the enforcement of the individual mandate. Continue reading →
The insurance market continues to prepare for changes associated with new federal government regulations and any possible “repeal and replace” scenarios. However, they are also on the cusp of another significant event that will greatly impact the industry. According to the U.S. Bureau of Labor Statistics approximately 400,000 positions will be available in the insurance field by 2020.
Insurers need to get ready for a looming talent strategy that is fast approaching. A recent McKinsey & Company study found that one quarter of insurance professionals are expected to retire next year. Yet, there will not be enough graduates of risk management and insurance programs to fill more than 10%-12% of those openings. Continue reading →
Getting geared up for open enrollment? Organizations everywhere are reviewing benefit offerings and preparing their process for this annual fall ritual. Employers are seeking to balance their healthcare spend with providing the support their diverse workforce needs.
A key strategy that remains popular with organizations is offering consumer directed health plans (CDHP). These plans are often paired with a health savings account or a flexible spending account. The percentage of employees enrolling in HDHPs has been increasing steadily over the past five years. Driving the trend, is the savings employees see with the average monthly paycheck deduction for individual-only coverage in a HDHP at about $90, compared to $140 for a PPO plan. Continue reading →
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