OSHA recently revealed its top 10 most frequently cited standards in the 2023 fiscal year using preliminary data. This information is valuable for businesses of all kinds, as it helps them identify common exposures that affect their workforce and gives them the information they need to plan their compliance programs.
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.
With the enormous amount of sensitive information stored digitally, companies need to take the proper measures to ensure this data is never compromised. Ultimately, it is the responsibility of business owners to protect their clients’ data. Failing to do so can result in a data breach, which costs companies billions of dollars every year. Understanding the risks involved with data security can help you prevent a privacy breach.
Inflation—both social and economic—drove personal and commercial auto liability claim costs an estimated $95 billion to $106 billion higher than they would otherwise have been between 2013 and 2022, according to a new report from the Insurance Information Institute (III).
Secondary perils, such as severe convective storms, floods, wildfires and hailstorms, have significantly impacted the commercial property market. In fact, according to industry data, secondary perils have consistently accounted for over 50% of insured natural disaster losses in recent years.
