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35 Matching News Items

1.  The Essential Elements of a Strong Benefits Advisor and Benefits Administration Vendor Partnership
Benefitfocus Link to more items from this source
Mar. 24, 2024
"[B]enefits administration solutions can help employers maximize the impact and ROI of their benefits programs.... [B]rokers and consultants should expect to encounter the following with a right-fit benefits administration partner: [1] Alignment of corporate values and culture ... [2] A robust (and reliable) solution roadmap ... [3] Customized guidance and consultation ... [4] Transparent and responsive communication."
2.  Lawsuit Shines a Light on Health Plan Fiduciaries and Their Fiduciary Obligations
Benefitfocus Link to more items from this source
Mar. 21, 2024
"The breadth of these complaints against a health plan sponsor and the plan's fiduciaries in their individual capacities is sending shockwaves through the employer-sponsored health plan and service provider communities. Consensus is growing that this lawsuit is just the beginning of a series of lawsuits that could be filed by employee-participants against the plan sponsor and the plan's fiduciaries for fiduciary breaches." [Lewandowski v. Johnson & Johnson, No. 23-0671 (D.N.J. complaint filed Feb. 5, 2024)]
3.  Measuring Employee Engagement with Benefits Communication
Benefitfocus Link to more items from this source
Feb. 26, 2024
"Setting up a step-by-step method for measuring employee engagement with benefits communication helps you keep track of your progress and quickly bring other team members into the process as your team grows or changes. [1] Evaluate past performance ... [2] Benchmark key metrics ... [3] Identify opportunities for improvement ... [4] Act on key insights."
4.  How Your Benefits Administration Partner Can Help You Cut Wasteful Spending
Benefitfocus Link to more items from this source
Feb. 13, 2024
"By partnering with the right vendor, employers can address these issues head-on and get more out of benefits budgets. [1] Claims payment errors ... [2] Billing and payroll errors ... [3] Ineligible dependents ... [4] Poor enrollment decisions ... [5] Poor benefit utilization."
5.  Stress Rx: Treat HR Burnout with Better Benefits Administration
Benefitfocus Link to more items from this source
Feb. 6, 2024
"Embracing a modern benefits administration solution, particularly through a knowledgeable partner, proves to be a powerful strategy in combating HR burnout. By reducing the administrative load, improving budget efficiency, enhancing the employee experience, smoothing knowledge gaps and providing data-based insights, HR leaders can not only reduce burnout within their teams but also contribute to a healthier, more productive workplace on a broader scale."
6.  Increase HR's Efficiency Through Strategic Benefits Management
Benefitfocus Link to more items from this source
Jan. 23, 2024
"Modern benefits management refers to an end-to-end benefits administration system, which offers a variety of advantages. Outsourcing the management of your benefits programs can save time, provide a higher level of confidence through expert administrators and enable your HR team to focus on strategic initiatives that can positively impact talent attraction/retention, engagement and productivity."
7.  Data Sharing, PBM Reforms and Transparency: Where We Stand in Early 2024
Benefitfocus Link to more items from this source
Jan. 22, 2024
"We don't know if the Senate will take steps to approve the House's Lower Costs, More Transparency Act [HR 5378]. That means we do not know if the amendments to the Gag Clause Prohibition ... will ever make their way into the law.... We also don't know whether PBM reforms -- particularly S 1339 -- will be included in legislation to keep the government funded and/or other supplemental spending bills.... [We] don't know whether the requirement to share claims data for 'audit' purposes and/or any other Transparency provisions will find their way into the law during these upcoming legislative exercises."
8.  Key Features When Evaluating New Open Enrollment Software
Benefitfocus Link to more items from this source
Jan. 10, 2024
"Beyond streamlining HR processes, [open enrollment] software helps empower HR teams to identify risks and improvements, fostering agility within the organization. The impact benefits employees, too, through user-friendly tools that not only assist in the enrollment process but also help them work towards achieving their health and financial goals.... Here are five key features to look for when comparing your open enrollment software options."
9.  Will the DOL Step in to Provide Relief for Complying with the Gag Clause Prohibition?
Benefitfocus Link to more items from this source
Dec. 6, 2023
"[The DOL] must take action to prevent group health plans and their plan sponsors from subjecting themselves to liability for either [1] failing to submit an attestation or [2] submitting an incorrect attestation. The DOL can do this by issuing guidance delaying the December 31 attestation submission date. Alternatively, the DOL can announce a one-year non-enforcement period for those plans and their sponsors that believe -- in good faith -- that prohibited gag clauses are still present in their agreements."
10.  Will PBM Reforms, Transparency and Data-Sharing Requirements Ever Get Enacted Into Law?
Benefitfocus Link to more items from this source
Nov. 14, 2023
"Despite all of the hard work that was put into the House PBM/Transparency/Data-Sharing legislative package ... coupled with the 'wait' of over three months now ... the Transparency and Data-Sharing requirements included in the House package are less likely to become law at this point in time. That said, there is a strong likelihood that the PBM reforms make their way into the law by the end of the year or at least by the end of the second quarter of 2024."
11.  Advising Employers on How to Differentiate to Attract and Retain Talent
Benefitfocus Link to more items from this source
Nov. 13, 2023
"[1] Take a strategic approach to maximizing benefits spend ... [2] Set measurable objectives ... [3] Communication is key ... [4] Publicize benefits programs ... [5] Suggest voluntary benefits ... [6] Understand the population."
12.  How Proposed Mental Health Parity Regs Could Impact Access to Benefits
Benefitfocus Link to more items from this source
Oct. 22, 2023
"[T]he employer community is concerned that the regulatory burden that is required to be compliant with the law will have [a detrimental] effect on increasing access to MH/SUD benefits ... [because] the proposed requirements are unworkable and efforts to even attempt to comply will be extremely costly. Some employers are even suggesting that the proposed requirements may force them to re-think the type and level of their plans' coverage of MH/SUD benefits."
13.  Top ACA Coverage and Reporting Pitfalls and How to Avoid Them
Benefitfocus Link to more items from this source
Sept. 12, 2023
"[1] Your 1095-C forms were printed after the IRS deadline.... [2] You switched ACA compliance vendors or HRIS software vendors and don't have the historical information you need to respond to an IRS penalty notice.... [3] You received a Letter 226J and your finance department was surprised to find out that the company owes over $1 million.... [4] Your organization didn't offer coverage to variable-hour employees who measured as eligible.... [5] You acquired a new company and couldn't merge the ACA data.... [6] You submitted your organization's ACA filing to the IRS but there were errors.... [7] There's turnover in your HR team and you lost the resources that manage ACA reporting.... [8] Your ACA filing to the IRS was rejected."
14.  April Is Financial Literacy Month: Recommendations for Your Employee Benefits Engagement Campaign
Benefitfocus Link to more items from this source
Mar. 30, 2023
"Connect the dots between your company's health care and wealth programs to get employees' workplace benefits and savings in sync. Generate interest in your company's HSA-eligible consumer-driven health plan, life insurance and retirement savings programs ahead of open enrollment season. Increase utilization of employer-sponsored financial wellness coaching, college savings and short-term loans programs."
15.  How Employers Can Make Open Enrollment More Successful This Year
Benefitfocus Link to more items from this source
Sept. 5, 2022
"There's still time to prepare your HR team and employees before this year's enrollment window opens -- and by tapping into these tips, you can achieve the strategic trifecta of OE success: communication, education, and engagement."
16.  Employers Meet Employee Needs by Diversifying Benefit Offerings
Benefitfocus Link to more items from this source
Apr. 6, 2022
"Employers are ... increasing flexibility and placing a greater emphasis on voluntary benefit options across a variety of categories. 77 percent of employers now offer an average of five health plan options between HDHP and PPOs, and nearly two thirds now offer both an HSA and FSA.... [E]mployers limited out-of-pocket cost increases to two percent or less on average. Employers also picked up the five percent premium increase for individual PPOs.... HDHP elections experienced a significant decline in 2022 for the first time in three years when employees had a choice between a PPO and HDHP."
17.  Insights and Perspectives on the New Normal in Employee Benefits
Benefitfocus Link to more items from this source
Mar. 9, 2022
"[This report] uses actual enrollment data to provide a one-of-a-kind look at behavior-based trends in: [1] Employer Benefit Offerings; [2] Health Plan Premiums and Out-of-Pocket Costs; [3] Employee Elections ... Key Insights: ... Employers continue to diversify health benefit packages.... Employers limit cost-shifting of health care cost increases for employees.... Employees are prioritizing financial security via voluntary benefits."
18.  Active Benefits Enrollment and Enhanced Engagement Leads to Higher Employee Retention and Cost Savings (PDF)
Benefitfocus Link to more items from this source
Feb. 10, 2020
"37%: The potential percentage decrease in employee turnover as a result of active participation and year-round engagement in benefit enrollment.... For an average group with 10K employees, every 10% improvement in active participation could retain 70 additional employees saving $1.05 million."
19.  The Consumer Benefits Coverage Index: New Way to Measure H&W Benefits
Benefitfocus Link to more items from this source
Apr. 17, 2019
"CBCI is an indicator of consumer spending across three key categories of voluntary benefit products: health, wealth and lifestyle. Each category is scored on a scale from 0 to 100 -- with an aggregate score range of 0 to 300 -- reflecting the average amounts spent by a consumer in these categories relative to their peers.... While the typical U.S. consumer's health category CBCI score lies in the optimal spending range, wealth and lifestyle scores are both in the low range -- indicating out-of-balance spending in these categories."
20.  Benefit Trends by Industry: Enrollment Data Insights
Benefitfocus; free registration required Link to more items from this source
Oct. 19, 2018
11 pages. "The share of employers in education offering at least one HDHP has more than doubled since 2016 ... [H]ealth care employers have transferred a significant amount of premium for their PPO plans onto workers.... Nine in 10 manufacturers now offer an HDHP.... Voluntary benefits are a priority in manufacturing.... HDHPs are getting more prevalent -- and more expensive -- in retail."
   Next »

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