Making Your Voluntary Benefits Program a Success

| posted in Blog, Newsletter

Both employers and employees have much to gain from a solid voluntary benefits program. For employees, being able to enroll in an insurance product through a workplace voluntary benefits program offers them the advantage of group pricing, the convenience of paying through payroll deduction, and perhaps access to insurance that would be difficult to get on an individual basis. For employers, offering a range of voluntary insurance products can help increase employee satisfaction – along with loyalty and morale – and make the business more competitive in attracting and retaining the best talent. These advantages alone, however, do not ensure…
Read More

What Workers Need to Know About Group Life Insurance

| posted in Blog

Voluntary group life insurance is offered to employees as an optional benefit, and often employers will pay the small premium as an employee retention tool and provide workers some peace of mind for their families. There are various avenues for funding these group plans and different underwriting criteria that can either reduce or increase the premium amounts. The employer may cover the premium directly, or employees may share in the premium burden through payroll deductions after tax. In most cases, life insurance face amounts will vary from policy to policy and will usually be based in part on each employee’s…
Read More

5 Reasons Healthcare Costs Are on the Rise

| posted in Blog

It’s not your imagination. Healthcare is expensive and costs continue to rise. According to the Journal of the American Medical Association, costs increased by almost one trillion dollars between 1996 and 2015. The rise in healthcare costs cannot be attributed exclusively to any one cause. Rather, there are a number of causes that, put together, are responsible for the rise. All of the following, plus more, have a role.

Benefits in a Multi-generational Workplace

| posted in Blog, Newsletter

With multiple generations working side-by-side in this economy, the needs of your staff in terms of employee benefits will vary greatly depending on their age. You may have baby boomers who are nearing retirement and have health issues, working with staff in their 30s who are newly married and have had their first kids. And those who are just entering the workforce have a different mindset about work and life than the generations before them. Because of this, employers have to be crafty in how they set up their benefits packages so that they address these various needs. But don’t…
Read More

Employers Double Down on Employee Benefits

| posted in Blog, Newsletter

As the job market tightens and competition for workers becomes fiercer, a majority of employers are boosting their employee benefits offerings and are paying less attention to reducing associated costs, according to a new study. The changes reflect the shifting priorities of the workforce and the newest generation to enter the job market. The challenge for employers is controlling benefit costs, while at the same time being able to attract and retain talent as competition for workers increases. The “2018 Benefits Strategy & Benchmarking Survey” by Gallagher Benefits found that U.S. employers were most concerned with: Attracting and retaining talent….
Read More

How to Combat the Rise in Healthcare Costs

| posted in Blog

Healthcare costs in the U.S. are at an all-time high, and organizations and individuals are continually looking for ways to reduce the rising costs and maintain affordability in healthcare. With spending levels reaching unsustainable highs, there are ways that employees and employers can work together to reduce the overall healthcare liabilities. As individuals bemoan the reduction in their take-home pay due to healthcare costs and employers find themselves digging deep to support their employees, all parties are looking for options they can explore together.

5 Things You Should Do After Open Enrollment

| posted in Blog

Open enrollment is over! Time to take a breather after the chaos, right? Not so fast. There are still a lot of tasks on your plate. Research shows that people who like their health plans are more likely to stay with the company. But, many people do not understand the coverage that they have. To help them better understand the benefits that they have available, put this post open enrollment plan into place. 1. Write an email explaining special enrollment periods and when they might apply to employees. In most cases, employees can only enroll in new health coverage during…
Read More

5 Tips You Can Use for Open Enrollment Success

| posted in Blog

Open enrollment for the new year’s health insurance plans can be one of the most hectic times of year for you and your human resources department. This is the one chance many employees have to make healthcare decision that will affect them all year long. You want to do everything you can to make your enrollment a success for the people who work for you. 1. Start early. The earlier you begin, the smoother your open enrollment process will be. Begin by reviewing your current insurance offerings with your broker, network partner and third-party administrator to assess your current plan’s…
Read More

The Top 5 Free Tools You Can Use to Simplify Open Enrollment

| posted in Blog

Most human resources professionals aren’t fortunate enough to have a line item in their budget for “Open Enrollment promotion,” so you have to get creative! Having a great enrollment season requires a great deal of dedication and perseverance on the part of the HR and benefits team, and that includes finding free or inexpensive ways to encourage people to enroll early (and correctly) to receive the benefits that your organization provides. We have found that these 5 free tools are extremely effective ways to help employees understand their benefits and make their benefits decisions! 1. Create a Benefits Overview Video…
Read More