How to Budget for Your Group Benefits Plan
As the labor market remains tight and businesses struggle to find staff, more small firms are starting to offer employee benefits, particularly health coverage. But the costs of coverage can be daunting and many employers worry about whether they can afford
Getting a Head Start on Open Enrollment
As open enrollment is right around the corner, now is the time to gear up to maximize employee enrollment, help them make the best selections for their own personal circumstances, and stay compliant with relevant laws and regulations. It's a lot
Most Workers Make Bad Health Insurance Decisions
Even though the majority of workers receive health insurance coverage on the job, a new survey has found that many of them understand surprisingly little about their health plans and are leaving money on the table. The "Health Insurance Literacy Survey"
You can’t pay less for healthcare unless you pay less for healthcare
As impossible as this claim may sound, ask yourself a few questions. How do current health plans allow members to pay less for services? Have your employees paid cash for a service or prescription drug (Rx) and found that the cash pay
Group Health Premiums Set to Rise 6.5%: Poll
U.S. employers can expect to see their group health insurance premiums climb an average of 6.5% in 2023 from this year, according to a new study. Economic inflationary pressures will push the average premium cost per employee to about $13,800, compared
Diabetes Wellness Programs Can Boost Productivity, Reduce Costs
Physicians and employee health experts are increasingly recommending that employers include diabetes screening, prevention and management in their company-sponsored wellness programs. Diabetes — known as the "silent killer" — afflicts more than 29 million Americans, or 9% of the population. Type 2
Two-thirds of Small Firms Are Boosting Their Benefits Packages: Poll
Now more than ever, employers need to step up their employee benefits game beyond providing group health insurance. Thanks to the Great Resignation, employees are demanding more from their current and prospective employers. And those that don't deliver lose employees or
Ask an Expert: Is There a 30-Day Grace Period to Make Changes to Elections in Cafeteria Plans?
Q: We have an employee who wants to make changes to her cafeteria plan election, even though benefits are already effective. Is there a grace period that allows her to change her election? Employers: Don't make this common cafeteria plan mistake! Once
Waiving HDHP Deductibles Has Little Effect on Premiums, Study Says
Employers who offer health savings account-eligible high-deductible health plans (HDHPs) to employees can significantly expand pre-deductible coverage for certain drugs used to manage chronic conditions — with only a tiny effect on premiums. That's the finding of a new study from
Alleviating Health Insurance Burden on Employees a Top Priority: Poll
As the 2023 group health open enrollment season nears, more employers have heard concerns among their staff and are focusing on affordability and easier access to health care services, according to a new study. Mercer’s “Health & Benefit Strategies for 2023”