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.
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.
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.
Cyber incidents—including data breaches, ransomware attacks and social engineering scams—have become increasingly prevalent, impacting organizations of all sizes and industries. Such incidents have largely been brought on by additional cyberthreat vectors and growing attacker sophistication. As these incidents continue to rise in both cost and frequency, it’s crucial for organizations to take steps to address their cyber exposures and bolster their digital security defenses.
One of the biggest components of workers’ compensation is an effective return-to-work (RTW) program. Eliminating injuries and illnesses is paramount for reducing workers’ compensation costs, but after an incident, an RTW program can significantly reduce workers’ compensation costs for employers and improve the lives of employees by getting them back to work when there is an injury or illness. This article provides an overview of RTW programs and discusses the best practices for establishing and maintaining such programs.
When properties are left idle or vacant, the risk of fire-related incidents increases. Therefore, implementing a comprehensive fire prevention strategy is crucial. This article explores essential fire prevention measures for idle and vacant properties to ensure the safety of the premises and minimize the risk of destructive fires.
When properties are left idle or vacant, the risk of fire-related incidents increases. Therefore, implementing a comprehensive fire prevention strategy is crucial. This article explores essential fire prevention measures for idle and vacant properties to ensure the safety of the premises and minimize the risk of destructive fires.
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.
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.
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.
