News Archive

"Establishing your objectives for using AI in benefits administration may help provide clarity in choosing a benefits administration provider that can support your goals. Successful benefits administration providers will be able to cleanly connect multiple data sources to provide purposeful integration of data-driven technology and AI."  MORE >>

"Communications leaders should play a leading role in the application and understanding of new and evolving tools such as artificial intelligence.... The era of searching for information is quickly being replaced with the era of simply asking for it. This means communicators must also focus on how the people they serve use AI to find information."  MORE >>

"[A]bout a third (32%) of adults are turning to AI for health information and advice. This includes about three in ten (29%) who say they’ve used AI tools in the past year for information or advice about their physical health, and one in six (16%) who’ve used them for mental health information or advice.... A majority (77%) of the public says they are concerned about the privacy of personal medical information provided to AI tools[.]"  MORE >>

"For plan sponsors, the issue is less about the use of AI itself and more about whether existing claims oversight and payment-integrity controls are keeping pace with increasingly automated billing environments. While these technologies improve efficiency, they also introduce a growing risk for self-insured health plans: an increase in duplicate and near-duplicate claims."  MORE >>

"While AI can enable PBMs to operate more efficiently and optimize pricing to help lower drug costs, this new technology raises several data privacy, regulatory, and contractual risks for employers that sponsor health plans. This Insight explains how plan sponsors can spot potential red flags and avoid potential liability while benefiting from the advantages that AI can bring to healthcare costs and administration."  MORE >>

"When asked how much they trust AI or digital health assistant tools compared with care from a health care provider, 45 percent of privately insured adults ages 21-64 said they trust AI tools as much as or more than their provider ... Although providers remain the most trusted source overall, the findings suggest that AI tools are becoming part of how many consumers approach health decision making."  MORE >>

"Wealth managers can face challenges when using AI to prepare client materials or conduct investment research ... But it's the more complex client-facing technology that poses the 'biggest fiduciary risk' ... FINRA's latest annual report ... included a new section on generative AI, stressing that while FINRA's rules are 'technology neutral,' they apply to AI just as they do to any other tool, including those that help with supervision, communications, recordkeeping and fair dealing."  MORE >>

"Researchers estimate that roughly $663 million in inpatient spending and at least $1.67 billion in outpatient spending may be tied to more aggressive, AI-enabled coding practices nationwide. While AI has the potential to reduce administrative burden when used appropriately, the findings underscore the need for greater oversight."  MORE >>

"[In November of 2023,] 11 percent of respondents were using AI in some capacity to help with HR tasks, most commonly to help draft job descriptions and other documents. With what feels like a big increase in use of AI lately across the board, [PSCA] asked members again last week if they are using AI with any benefits tasks, specifically retirement related tasks. Nearly half of of respondents (46 percent) stated they use AI in some capacity to assist with HR tasks -- a huge jump in just two years."  MORE >>

"Not only are many young Americans not even beginning to think about retirement yet, but studies also indicate millennials and Generation Z prefer to go online for financial advice rather than engage with a professional consultant. A possible solution is for advisors to leverage technology in tandem with their industry experience to reach more people."  MORE >>

"Most advisors are using artificial intelligence (AI) to gain incremental efficiency by automating routine tasks, but the larger opportunity lies in redesigning workflows to enable proactive plan monitoring, true personalization at scale, and scalable expertise.... Differentiation is more likely to come from disciplined integration rather than speed, combining AI with human oversight, compliance guardrails, and validation protocols."  MORE >>

"SOC reports are still critical for evaluating internal control effectiveness, especially as organizations rely more and more on third-party service providers. These reports have grown in volume and complexity, but improving the traditional process of manually reviewing them has not kept pace.... Artificial intelligence (AI) ... can help modernize SOC report review process in four key ways: [1] control identification through risk alignment, [2] trend analysis, [3] operational efficiency, and [4] governance -- all without compromising professional judgement."  MORE >>

"Automation and workflow technologies have long enhanced actuarial processes, delivering measurable benefits.... AI represents a transformative accelerator: Modern applications can be deployed rapidly, at lower marginal cost, and with markedly greater analytical precision. Early adopters are already reporting substantial efficiency gains and deeper insights, underscoring the urgency for organizations to embrace these advances or risk falling behind."  MORE >>

"[A]rtificial intelligence (AI) and blockchain are seen as major catalysts in plan administration and participant experience. AI is anticipated to enhance personalized financial guidance, predictive modeling, and customized communications."  MORE >>

"For advisors who want to help plan sponsor clients begin proactively looking at plan providers' utilization of AI, here are six ideas: [1] Start doing due diligence ... [2] Understand a recordkeeper's AI priorities ... [3] Get knowledgeable about data-security risks ... [4] Learn about hallucination risks: ... [5] Look into protections if problems occur ... [6] Talk proactively about advisory firm's AI use."  MORE >>

"Two new reports from Transamerica suggest that major changes are coming to the retirement landscape by 2030, driven by automation, predictive analytics, and personalized engagement tools. At the same time, however, plans will have to navigate increasing fiduciary threats as a result of these changes."  MORE >>

14 pages. "The U.S. retirement system is at a pivotal moment -- shaped by evolving regulation, rapid technological change, and a renewed focus on meeting the diverse needs of plan participants. This [report spotlights] three transformative themes: enhanced diversification in defined contribution (DC) plans to address modern market complexities, the accelerating impact of artificial intelligence (AI) across the retirement ecosystem, and the growing demand for personalized advice solutions."  MORE >>

"82% said their use of AI for finance had increased in the past 12 months. Overall, 71.8% of respondents said they made financial decisions as a result of AI guidance or information, and almost one in eight -- 11.9% -- said they took 'significant actions' in their retirement planning following AI feedback."  MORE >>

"AI is a fantastic tool when used properly, and can be easy to use, but you need to know that the information it gives will be flawed if you input incomplete or incorrect parameters or fail to interpret the output correctly. Using it for research may be a good first step, but it is important to make sure to check the citations and read the source material to which they refer and ensure that you're doing things correctly."  MORE >>

"While ChatGPT Health and Claude for Healthcare offer useful capabilities, they also present risks and limitations that users, healthcare providers, and organizations should evaluate before adoption."  MORE >>

"42% of HR teams are actively using AI in some capacity ... often replacing people-facing tasks for automation. Today's benefit leaders will need to be more technically and analytically-minded to keep up with the shift[.]"  MORE >>

"In an era where every big tech player wants a piece of healthcare, Elevance Health is trying something harder: turning a sprawling, legacy insurance business into a modern, data-driven health platform. The company, formerly known as Anthem, is recasting itself not as a payer, but as an integrated healthcare product that coordinates benefits, care, and pharmacy services under one data layer."  MORE >>

"[S]trategic investments in AI-powered support, enhanced planning tools, and improved security features are helping providers differentiate their digital experiences."  MORE >>

14 pages. "The AI in HR benefits ecosystem includes developers, deployers, HR professionals, and compliance experts, all of whom impact how AI tools are built and used responsibly. The report distills AI-driven HR benefits use cases into a three-factor framework -- each functioning as a dial, adjustable to the specific application and context. [1] Core Employee Lifecycle Stages ('when'); [2] Key Benefit Categories ('what'); [3] Users and Roles ('who')."  MORE >>

"Benefits teams hold the keys to many digital health innovations, and they are uniquely positioned to help employees access faster care, more convenient provider visits, and the latest apps, all while keeping affordability in mind.... [1] AI tools for talk therapy and mental health.... [2] GLP-1 access and affordability.... [3] Telemedicine expansion."  MORE >>