Workplace wellness programs reduce medical costs, absenteeism and health-related productivity losses, yet many employers find it difficult to measure the success of their programs. Simply enrolling in a program or engaging in an arbitrary number of actions is not predictive of improved health outcomes, or disease prevention or reversal,” wrote the authors of a wellness...
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Government Cracks Down on Parity of Coverage Violators
Prior to leaving the White House, the Obama administration increased enforcement of laws requiring parity of coverage for mental health and substance abuse benefits. In a White House task force report, officials said insurers need to make sure that insurance coverage for treatment for mental health and substance abuse disorders are comparable to—or at parity...
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3 Tips to Expand Voluntary Benefits and Save Money
At a time when employers are trying to solve talent gaps while juggling tight budgets, the popularity of voluntary benefits continues to gain traction—with voluntary benefits’ sales increasing for the fifth straight year, according to LIMRA. Voluntary life insurance sales grew 8 percent and supplemental health insurance sales grew 4 percent in 2015, according to...
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Bosses’ Top Concern is the Employer Mandate
It’s one of the top issues for employers this year. As President Donald Trump begins his term, an Aon survey found nearly half of employers view the employer mandate as the top healthcare concern of 2017. Arecent Aon survey found 48 percent of employers say the employer mandate is their primary healthcare concern this year....
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Health Insurance Premiums Soar over Last Decade
Over the last decade, average annual premiums workers have paid for family healthcare coverage have shot up 78 percent, while employer contributions rose 51 percent, a new report found. From 2006 to 2016, the Kaiser Family Foundation survey of 1,900 small and large employers found worker contributions increased from $2,973 to $5,277 while employer contributions...
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Disability Income Insurance Protects Your Most Valuable Asset
Most people don’t plan for a debilitating accident or illness during their working years. But three in 10 workers entering the work force today will become disabled before retiring. And only five percent of disabilities are work-related—meaning 95 percent of people with disabilities will not qualify for workers’ compensation benefits. Most of us know people...
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Donald Trump and Obamacare
Before his surprise election, President-Elect Donald Trump said he would repeal the Affordable Care Act “on Day One.” However, the health care law championed by Barack Obama could prove more difficult to dismantle than Trump had imagined. Since that time, Trump has backed off a bit from a complete repeal. By the time this issue...
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401ks Leave Most Americans Unprepared for Retirement
The rise of 401(k) plans has left most Americans unprepared for retirement. The average family only has $5,000 saved in a retirement account, according to a new report by the Economic Policy Institute. The report, “The State of American Retirement,” found 401(k) plans have magnified economic inequities. While the median family between the ages of...
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Private Exchanges Offer Brokers Ways to Help Employers Navigate Changes
At a time when changing healthcare legislation is creating uncertainty for businesses, private exchanges can help employers stay financially afloat in the choppy seas of benefit changes. Private exchanges—online marketplaces where businesses and people can buy health insurance—are growing rapidly in popularity, a new survey found. The Aflac Healthcare 2015 survey found 86 percent of...
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Self Funding 101 For Employers
Many employers are taking advantage of self funding to reduce costs, particularly medical costs. A self funding 101 lesson for employers is contained in a new report by Sun Life Financial U.S. Tn their Top Ten Catastrophic Claims Conditions report, Sun Life compiles the costliest medical conditions covered by its stop-loss insurance from 2012-15. The...
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