Employers Adjust Health Benefit Strategies in Wake of Reform
Employers are making changes to their health plans as a result of health care reform coverage mandates, while many remain confused about some of the requirements and how they work.
Health Plan Cost for 'Typical' Family Hits $22,030
For the fourth consecutive year, the premium increase for family coverage through an employer-sponsored preferred provider organization (PPO) plan was over $1,300. Still, the 6.3 percent increase over 2012 represents a slowing cost trend.
Critics Say Obamacare May Encourage ‘Part-Time Society’
Some small employers are cutting hiring and employees’ hours in response to new health care reform coverage mandates for full-time employees, according to a Gallup poll released May 10.
DOL Issues Model COBRA Election and Exchange Notices
On May 8, the Department of Labor (DOL) issued an updated model COBRA continuation notice and a model notice of coverage options through the soon-to-launch health care exchanges. The exchange notice must be provided to current and new employees beginning Oct. 1.
Match Thresholds and Default Rates Impact Savings
Employers can keep costs down and encourage more robust savings in auto enrollment 401(k) plans by getting creative with "stretch matching" and other design features.
Poor Worker Health Costs U.S. Businesses Billions
Lost productivity because of workers’ poor health is costing the U.S. $84 billion a year, according to a Gallup-Healthways Well-Being Index that found more than two-thirds of workers reported having chronic health conditions or being overweight.
Rewards Pros Link Loyalty (Their Own) to Career Development
Much like the workforce they serve, HR total rewards professionals identify their own career training and developmental opportunities as key drivers of long-term loyalty.
Guidance Sought on Wellness Efforts and Anti-Discrimination Laws
More regulation is needed to stop wellness programs from violating worker-protection laws, labor advocates told the Equal Employment Opportunity Commission at a May 8 hearing. Business advocates, meanwhile, sought protection for incentive-based wellness programs.
Use of Outcomes-Based Incentives Up
Most employers say they are likely to adapt or increase their use of wellness program incentives tied to achieving health goals.
Open Enrollment HIPAA Action Items
Added to the open enrollment to-do list are more Health Insurance Portability and Accountability Act (HIPAA) employee notices and related procedures, required by final regulations issued earlier this year.
For 2014, Higher HSA Contribution Limits
The IRS announced higher limits for 2014 on contributions to health savings accounts (HSAs) and for out-of-pocket expenses under high-deductible health plans (HDHPs) linked to them.
Boosting 401(k) Plan Effectiveness
Eighty-four percent of plan sponsors identified improved participant education as a focus area for their plans, according to a new survey.