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.
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.
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.
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.
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.
The Patient Protection and Affordable Care Act (PPACA), commonly known as Obamacare, levies hefty penalties on employers who do not comply with key provisions of the law.
This year’s open enrollment period presents some unique challenges for employers looking to effectively communicate benefits options to employees. With rising healthcare costs, high inflation, a hybrid workforce split between office and remote settings, and workers facing mounting financial pressures, it is more important than ever for organizations to get open enrolment right.
The opioid epidemic continues to ravage communities across America, taking over 41 lives per day and costing billions in lost productivity and increased healthcare expenses. As employers seek solutions to keep their workforce safe and productive, virtual physical therapy has emerged as an innovative approach.
When employees require surgery, the costs to employers can be immense—not only the direct medical bills but also lost productivity from time off work. However, a growing number of employers are realizing that many recommended surgeries may be unnecessary. By offering employees access to second opinion consultations through virtual health partners, employers can enjoy significant savings per avoided surgery while improving worker health outcomes.
New research from digital media company Arizent revealed employee benefits leaders’ biggest challenges and strategies for increasing benefits utilization. These findings can help shape employers’ 2024 open enrollment plans.
