For a growing number of employers, voluntary accident insurance plans may play a part in rounding out employee benefits packages to help employees pay for unexpected costs. Accidents can happen to anyone—and the reality is that accidents do happen. In fact, more than 80 million people in the United States seek medical treatment for injuries each year.
Open enrollment is something you probably only think about a few times a year. For employees, it might be even less often. That’s why it’s important to touch on benefits throughout the year—to ensure employees are making the most of them. Here are five steps for providing employees with thoughtful, year-round benefits engagement:
Thanks to stresses brought on by the COVID-19 pandemic, employee assistance programs have become more popular and crucial than ever before.
The COVID-19 pandemic was a wake-up call for HR departments in 2020. Suddenly, employees were looking to HR teams for guidance in areas not typically considered their responsibility. This was a turning point for many workplaces—now, HR is expected to understand public health challenges swiftly and manage them efficiently.
There are new Summary of Benefits and Coverage notice requirements for health plans starting with the 2021 coverage year.
Many Americans see unmet needs outside of their health insurance, more and more workers are increasingly signing up for the voluntary benefits their employers offer.
With the COVID-19 pandemic weighing on employers and employees alike, businesses can help their staff by leveraging health savings accounts to pay for out-of-pocket expenses.
Between the COVID-19 pandemic and an ongoing political debate over the Affordable Care Act (ACA), health care was a core element of Joe Biden’s campaign for the U.S. presidency.
Employee benefits aren’t always simple. In fact, for many young employees, they’re downright confusing. Look at basic health insurance term knowledge, for example. Only 7% of individuals can define terms like premium, deductible and coinsurance, according to UnitedHealthcare. And that limited understanding can result in significant—and often unnecessary—expenses for both employees and employers. To put it monetarily, low health literacy is estimated to cost between $106 billion and $238 billion annually, according to the National Library of Medicine.