Companies looking to pare health costs by requiring working spouses to get health insurance through their own employer may find the move has some unexpected consequences, according to a new study by the nonprofit Employee Benefit Research Institute (EBRI).
Posts Tagged Benefits
Workplace wellness programs can significantly lower health care costs by helping workers to better manage chronic diseases. However, encouraging workers to adopt healthier lifestyles may not noticeably reduce an employer's health costs or lead to lower net savings for otherwise healthy individuals, according to a new Rand Corp.
As employers struggle with decisions regarding how to insure their employees in the changing health care landscape, brokers are using newly accessible data to help employers assess their options.
The Patient Protection and Affordable Care Act provisions that took effect Jan. 1, 2014, require health care coverage for individual- and small-group markets on one of four levels—referred to as an essential health benefits package—bronze, silver, gold and platinum.
With all of the attention being paid to the public health insurance exchanges established under the Patient Protection and Affordable Care Act (ACA), it's easy to overlook the growth in private health insurance exchanges that has taken place in recent years.
It’s not what you know that can hurt you; it’s what you don’t know.
That adage is particularly appropriate today as Congress quietly considers an issue that could affect every American—yet few are aware of it.
While every conscientious HR professional has been working overtime to keep up with the evolving status of the Affordable Care Act, developments with immigration reform, and the implications of new workplace rules, something else has been happening behind closed doors on Capitol Hill.
- Costs more than 9.5 percent of the employee's W-2 wages, or
- Doesn’t cover an average of 60 percent of the employee's medical expenses.
Only a quarter of organizations use their workplace benefits program to help recruit employees, according to survey findings released by the Society for Human Resource Management (SHRM) in December 2013.
Despite competing priorities, one-third of HR professionals in the U.S. (32 percent) have increased the time they spend educating employees about workplace benefits, according to Bank of America Merrill Lynch's latest Workplace Benefits Report, based on an August 2013 nationwide survey of more than 1,000 companies of all sizes. The final sample was weighted back to representative proportions based on size.
For the third year in a row, chief financial officers (CFOs) in the U.S. cited rising health care costs as their No. 1 concern, according to the Bank of America Merrill Lynch 2014 CFO Outlook survey.
Of the financial executives who participated in the annual survey of middle-market companies, nine out of 10 also said they expect their organization to increase or maintain the size of its workforce in 2014.
The vast majority of American workers say that the benefits package an employer offers, especially health insurance, is important in their decision to accept or reject a job. Yet a quarter of employees are not satisfied with the offerings, according to a new survey.
The 2013 Health and Voluntary Workplace Benefits Survey by the nonprofit Employee Benefit Research Institute (EBRI) and research firm Greenwald and Associates, released in November, reveals that:
On the day before Thanksgiving, the Obama administration quietly announced plans to delay another part of the Affordable Care Act’s (ACA) Small Business Health Options Program, or SHOP, in states with a federally run health insurance marketplace.
Employers are increasingly likely to offer voluntary benefits to help workers meet their financial needs and fill gaps in coverage, according to two benefits professionals who reviewed the hottest voluntary benefits for 2014 in a recent webinar. But as the costs of benefits shift to workers, employers have an obligation to help employees choose the best benefits.
As the end of the year approaches, HR should remind employees with flexible spending accounts (FSAs) to determine whether they need to spend some or all of their unused funds before the end of the year (or extra grace period) to avoid forfeiting them.
Washingtonian magazine has selected the Society for Human Resource Management (SHRM) for its 2013 list of 50 Great Places to Work in the Washington, D.C., area.
“We are thrilled to be named one of the Washington area’s top employers,” said Henry G. “Hank” Jackson, SHRM president and CEO. “SHRM educates HR professionals and employers on workplace best practices. So we are gratified for the recognition that SHRM ‘walks the talk.’ ”
Health flexible spending accounts (FSAs) are becoming more flexible. New federal guidance permits employers to allow workers to carry over unused amounts of up to $500 for expenses in the next year and still contribute up to $2,500 annually.
America’s workers aren’t doing enough to learn about their benefits options and coverage gaps—and it’s hurting them at annual enrollment time.
U.S. employers expect their health benefit cost per employee to rise by 4.8 percent, on average, in 2014, according to a survey by consultancy Mercer. Cost growth slowed to 4.1 percent in 2012, a 15-year low. The projected increase for 2014, while still relatively low, represents a slight uptick.
Employers struggling with the application of the Patient Protection and Affordable Care Act (ACA) received welcome relief in July 2013 when the Treasury announced a one-year delay on implementation of the "pay or play" mandate. This mandate would have required most employers with the equivalent of at least 50 full-time employees to provide affordable, minimum value health insurance coverage to their full-time employees by Jan. 1, 2014, or pay penalties.
U.S. workers said that to make informed decisions about selecting health care coverage options they need a description of the available benefits, a comparison of how the cost of health insurance may change, and a comparison of coverage among available plans, according to the First Annual Transamerica Center for Health Studies Survey.