The number of U.S. employees using auto-enrollment features for their benefits plans has more than doubled since 2005, reports the Guardian Life Insurance Company of America. According to Guardian’s study, 62% of workers now enrol online for their employee benefits, compared with only 29% in 2005. In the past year alone, the use of online […]
Employees want benefits. That’s not a surprising statement, but what might be surprising is that the degree of importance employees place on benefits programs has increased. That’s the finding from a recent study by Unum, a benefits provider for the U.S. and U.K. According to the study of 1,700 working adults, the perceived importance of […]
The bulk of Canadian employers believe that offering benefits increases employees’ productivity and gives them a hiring advantage—but many employers aren’t implementing the necessary programs to reap those benefits. According to Manulife Financial’s Small Business Research Report, more than three-quarters (76%) of small business owners and managers in Canada believe that taking care of employees […]
While Canadian employers understand the importance of workplace wellness, many are struggling to create comprehensive programs to actually improve employee health—and their bottom lines. That’s the finding of the 2011 Buffett National Wellness Survey, released Oct. 25 at the launch of Sun Life Financial’s 2011 series of Wellness Institute Breakfasts in Toronto. The good news […]
After two years of increasing inflation in health benefits plan costs, Canadian employers can now expect a break, according to a survey released by Buck Consultants. Insurers have lowered their expected inflation costs for health benefits premiums (including prescription drugs, medical expenses, hospital coverage and dental care) from 15% in 2010 to 14.4% in 2011. […]
Trend factors and, more specifically, health trend factors, use an organization’s experience with historical claims to forecast future healthcare benefits costs. Insurers apply these trends as a way to rate your plan. The trend factor captures anticipated increases in the cost of medical goods and services and considers changes in utilization patterns driven by factors […]
With many details of U.S. healthcare reform still unknown, organizations are struggling to develop a long-term healthcare strategy, says a recent survey by Towers Watson. According to the Health Care Changes Ahead Survey Report, 88% of employers surveyed are planning small or moderate changes to their healthcare plans for 2012 and 45% will rethink their […]
To help employees better manage stress in their work, health and personal life, Morneau Shepell Ltd., through the Shepell·fgi brand, has launched a new online stress management program. Interactive features in the program include action email reminders, a three-month goal overview calendar, an area to record thoughts and evaluate one’s thinking patterns, stress-busting games and […]
With healthcare costs rising, employees are expected to be more accountable for maintaining their own health and monitoring their expenses, says Aon Hewitt. According to the consulting firm, overall U.S. healthcare costs are expected to rise 7% in 2012 to US$10,475 per employee, compared with US$9,792 per employee in 2011. While employers will likely continue […]
Some insurance companies now provide online claiming for non-drug benefits (electronic adjudication of drug claims has been around for years). But how has this increase in online claiming affected—positively or negatively—group insurance fraud? What impact has this new claiming channel had upon the “misuse, abuse and overuse of benefits?” Unfortunately, fraudulent activities continue to thrive. […]