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Insurance

Measure productivity loss when tallying health costs

01/13/2025
The costliest illnesses to insure aren’t necessarily the ones that take the biggest chunk out of your bottom line. When measuring how much money your organization sinks into employee health, don’t stop once you’ve calculated your share of employees’ insurance premiums.

Employer-sponsored health premiums rose 7% in 2024

11/11/2024
Family premiums for employer-sponsored health insurance rose 7% this year to reach an average of $25,572 annually, KFF’s 2024 benchmark Employer Health Survey finds. On average, employers contributed $19,276 to family-coverage premiums, while workers contributed $6,296.

IRS announces 2025 401(k) contribution limits, other pension plan limitations

11/04/2024
The IRS has finally released the 2025 inflation adjustments to 401(k) plans, as well as adjustments to other popular benefits.

Have staff acknowledge benefits changes

10/21/2024
Whenever you update the material terms of your benefits plan, you should collect written or electronic acknowledgments from employees attesting that they received and read the latest changes.

GLP-1 benefits coverage lags behind clinical eligibility

10/16/2024
About 42% of adults could be clinically eligible for GLP-1 medications that treat diabetes and obesity, but only 3% of those with employer-provided health insurance have a prescription for the drugs.

Ensure layoffs don’t target ‘costly’ workers

09/30/2024
When employers decide to reduce their workforces, it’s often because they need to save money. Laying off highly paid employees is one thing. It’s entirely another matter to target employees with costly medical problems that strain your self-insured health plan. That’s an almost foolproof way to trigger a lawsuit.

With health-care costs rising, employers prioritize affordability

09/30/2024
As the cost of health care rises to a record post-pandemic high, nearly half of employers expect that their health-care costs will exceed budget projections this year. In response, employers are focusing on more competitive, cost-effective plan designs to control costs, according to a new survey by the Willis Towers Watson consulting firm.

Smart strategies for surviving this fall’s open enrollment

09/30/2024
Open enrollment for health insurance benefits is an inevitable autumn ritual that can cause great stress for HR and for your employees. It usually comes at the busiest time of the year, when HR pros—along with everyone else—are tending to year-end deadlines. Smooth the process by implementing these strategies.

Reproductive health benefits: A report card on the top 100 companies

09/25/2024
A new report sheds light on the reproductive and maternal health benefits offered by America’s largest employers, which offers insights for companies of all sizes. The report found that major employers now provide family-formation benefits and paid parental leave. Many are also taking innovative approaches to make health coverage more accessible and affordable for workers.

10 low-cost communication tips to start open enrollment right

09/23/2024
With benefits election open-enrollment season looming at organizations across the country, make sure you avoid the mistake too many employers make: plopping a benefits booklet in front of employees and telling them to figure it out. That just doesn’t work anymore. Benefits have become too complex for employees to figure them out on their own. Here are 10 ways you can do a better job of communicating with your employees.