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What the Transformation of PBMs Could Mean for Employers

By |2024-03-01T20:54:00+00:00February 26th, 2024|Blog, Employee Benefits, Trending|

When nonprofit health insurer Blue Shield of California announced significant changes to how it conducts pharmacy benefit management (PBM) for its 4.8 million members, the health insurance industry took notice. What does this mean for employers sponsoring health plans? There are a few key points they shouldn't miss.

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Six Healthcare Trends Employers Can’t Afford to Ignore in 2024

By |2024-03-01T15:10:16+00:00February 20th, 2024|Blog, Employee Benefits, Trending|

Employers are facing immense healthcare cost pressures going into 2024. According to industry experts, medical benefit expenses are predicted to rise 5.4% next year — outpacing the 3-4% average annual increases seen over the past decade. This spike ties back to factors like lingering inflation, more expensive treatments, and pandemic care deficits coming due.

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The Shocking High Cost of Covering Obesity Drugs

By |2024-03-01T15:10:40+00:00February 19th, 2024|Blog, Employee Benefits, Trending|

A new survey reveals that the costs of covering increasingly popular obesity drugs like Ozempic and Wegovy are quickly mounting for employers. But with demand from employees high and potential health benefits significant, more companies are considering taking on the pricey medications.

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IRS Raises 2024 Health FSA Cap

By |2024-01-08T18:23:22+00:00January 7th, 2024|Blog, Employee Benefits, Trending|

Unsurprisingly, the IRS has announced an increase in the health flexible spending account (FSA) contribution limit for 2024 to $3,200, according to experts. This $150 boost provides employee the opportunity to set aside more tax-free money to pay for qualifying medical expenses.

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Sick Days Have Doubled, but Morale Is Up

By |2024-01-08T18:32:22+00:00January 6th, 2024|Blog, Employee Benefits, Trending|

In the last few years, employers across the nation have seen a dramatic shift in how their workers approach sick leave. Employees today are taking nearly twice as many sick days compared to pre-pandemic times. But contrary to what some may expect, this surge in time off has not negatively impacted productivity or morale. In fact, the opposite may be true.

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New Solutions for Employee Mental Health

By |2024-01-08T18:39:46+00:00January 5th, 2024|Blog, Employee Benefits, Trending|

More than one in five U.S. adults suffer from mental illness each year, according to the National Alliance on Mental Illness. An estimated four percent have attention deficit hyperactivity disorder. While sometimes obvious, mental health issues often go unseen in the workplace, taking a silent toll on employees' well-being and job performance when unaddressed. However, new solutions allow employers to support what they can't see.

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Estate Planning: The New Must-Have Benefit

By |2023-12-04T22:12:58+00:00December 4th, 2023|Blog, Employee Benefits, Trending|

Estate planning benefits are gaining momentum as employers add these services to help employees with their financial affairs. With COVID-19 underscoring mortality and workers seeking more financial protection, interest is rising.

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What’s Driving Benefit Costs Up 7% for 2024?

By |2023-12-04T22:20:04+00:00December 3rd, 2023|Blog, Employee Benefits, Trending|

U.S. employers should brace for a 7% hike in healthcare costs next year, fueled largely by chronic conditions, costly prescriptions, and catastrophic claims, according to new data.

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Support Your Staff as They Transition Back to Student Loan Payments

By |2023-12-04T22:26:58+00:00December 2nd, 2023|Blog, Employee Benefits, Trending|

Now that federal student loan payments have restarted after a nearly three-year pause, HR teams can play a key role in supporting employees through this transition. With over 45 million Americans holding $1.77 trillion in stu¬dent debt, many workers face renewed financial burdens from monthly payments.

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4 Key Trends Driving Employer Healthcare Costs in 2024

By |2023-11-27T18:12:42+00:00November 27th, 2023|Blog, Employee Benefits, Trending|

Amid ongoing inflation pressures, employees and employers alike can expect their healthcare costs to increase in 2024. Global professional services firm Aon reported that health care costs for employers will grow by 8.5% in 2024 (to more than $15,000 per employee), nearly double 2023’s figure. In line with those findings, the Business Group on Health’s 2024 Large Employer Health Care Strategy Survey predicts a 6% increase in health care costs in 2024.

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