The Kaiser Family Foundation employee health benefits survey for 2019 shows that the cost of annual premiums for employer-sponsored health insurance plans have reached $20,576. While there are differences between small and large employer groups, costs are rising faster than wages for both and average contributions by employees have reached $1,242 for single coverage and [...]
While the National Business Group on Health has forecasted a 5% increase in the cost of healthcare benefits, others are expecting employers to dedicate more resources to health and wellness. More emphasis will also be placed on the use of digital tools to identify lower cost providers and boost employee engagement. Experts say the trend [...]
From hospitals to insurers, you’ve probably heard many say that the goal is to provide the right healthcare, at the right time, in the right place. When it comes to the infusion of high-priced specialty drugs, location can make a huge difference. As an example, the variance in the cost of hospital-administered multiple sclerosis drugs [...]
Non-technical staffing company Randstad US reports that 79% of employers offer casual, business casual or no dress code at all. Even investment bank Goldman Sachs has reportedly relaxed its dress code in response to the changing nature of workplaces. While most employers are considering increased flexibility to be a welcome benefit, many employees appreciate [...]
The Department of Health and Human Services (HHS) and the Department of Labor (DOL) have issued adjusted/updated civil monetary penalties for a myriad of benefits related violations. The Departments are required by law to provide their annual adjustments by January 15th each year. The 2020 penalties will not be assessed until after January 15, 2020 [...]
Communication and helping plan members get the most out of their health plan should be an all year round endeavor. Surveys continue to indicate that even highly educated employees describe benefits, insurance and the enrollment process as “very confusing.” Consider academic research by the Commonwealth Fund and a recent study by Accenture. While one points [...]
Doctors representing several Physician associations recently appeared before the U.S. House of Representatives to encourage legislators to streamline the prior authorization process which they say is out of control. A spokesperson representing the American Academy of Family Physicians said that a process initially implemented to prevent unnecessary and extremely costly treatment has led to physician [...]
Here's why investment-focused Health Savings Accounts should be on every young woman’s radar. This article was published on January 14, 2020 on BenefitsPro.com, written by Alison Moore. Photo Source: BenefitsPro.com. A recent article from Bustle titled “How to Save for Retirement in Your 20s” powerfully explained why saving for the future is one of the [...]
Currently, patients with high deductible health plans and health savings accounts have to pay for treatment of chronic illnesses out of pocket until they have reached their required deductible. According to IRS Notice 2019-45, those with chronic conditions such as diabetes, high blood pressure or asthma, will reduce their financial burden prior to reaching their [...]
New Jersey: Health Insurance Mandate In 2018, New Jersey Governor, Phil Murphy, signed into law The New Jersey Health Insurance Market Preservation Act. This law requires all New Jersey residents to have health insurance or pay a penalty. Lawmakers in New Jersey drafted this legislation in response to the decision to eliminate the ACA individual mandate with the [...]
