February 15, 2024

For some employees, their annual open enrollment is the only time of year that they are engaged with their benefits. When employers place a focus on year-round benefits education, employees have the information they need to make informed decisions, and they will utilize their coverage more effectively.

Employee benefits aren’t always easily understood. Therefore, a monthly communication strategy can begin with topics such as health care terms (deductible, coinsurance and copay) or how to read a benefit summary.

As the year progresses, topics can include how to review medical bills for discrepancies, when you can conduct a telehealth visit, qualifying life events or how to conduct research in order to save on medical procedures.

Employers can tailor their plan communication based on their industry and the demographics of their workforce. Utilizing various methods (ex: emails, lunch and learns, texts, etc) can be helpful to maintain engagement.

Communicating about benefits year-round will certainly be helpful by the time the next open enrollment comes. Employees will be more confident and are more likely to examine their existing coverage and add coverage to fill gaps if their lifestyle or needs have changed. Overall, taking the time to provide benefits education can reduce healthcare costs for employers and employees in a time when healthcare costs continue to be on the rise.

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July 28, 2023

The popularity of weight loss drugs, such as Wegovy, has reached an all-time high, leading to more individuals asking about these medications. As a result, employers are being faced with the difficult decision of whether or not to cover these expensive medications.

There is a range in cost for these medications, running from $300 to $1,600 per month, as well as a variance in effectiveness. When the drugs are paired with healthier lifestyle choices, long-term outcomes are more likely. However, some of these medications haven’t been on the market long enough for concrete outcomes and any potential side effects to be observed. There are concerns about whether or not the medications will lead to long-term weight loss and whether or not the medications will need to be taken for an indefinite period of time.

Meeting employee desires while mitigating Rx spend can be challenging. We are seeing more and more insurers and Pharmacy Benefit Managers cracking down on prescribing practices for these medications. Physicians should be accounting for age, body fat, satiety differences, individual medical factors and psychosocial factors when determining which medication will best support their patient’s health care needs. In addition, restricting access to individuals who need the medications the most will alleviate shortages and ensure they are able to access them.

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April 18, 2023

When I think about ¶¶Òõapp and what is mutually important between myself and our company, the word longevity comes to mind. I’m proud to say that the majority of the clients I support today, I started supporting 4 years ago when I started my tenure at ¶¶Òõapp.  It’s important to serve as a year-round resource for our clients in order to earn a long-term partnership.

When we engage with our current clients throughout the year, typically in the first quarter, mid-year, pre-renewal and at renewal, we review plan utilization, share industry trends, and discuss compliance updates and innovative ways to manage health care costs.  When we engage with a new client, we start by discussing immediate priorities and set a timeline for meeting those business objectives.  Our work is driven by the needs of our clients, and we appreciate te opportunity to support our clients whenever they may need us.

From a personal perspective, I seek longevity within our company, our team and the relationships I’m able to develop.  I truly value the relationships I’ve worked hard to build with our clients and the vendors we work with on a daily basis.  Through these relationships, I’m able to produce solutions customized for each organization’s objectives.

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February 23, 2023

There are several benefits for an employer and their workforce when overall wellbeing is a focal point in the workplace. When employees perceive that their employer cares about their wellbeing, they are more likely to be engaged and less stressed while at work.

The CDC conducted a study and determined that “employees working for a company with a strong culture of health are three times more likely to actively strive to improve their health.”

Wellness, in turn, is helpful from a business standpoint as well. It can lead to lower health care costs, increased productivity (ex: reducing chances of illness, disability claims or workplace injury) and heightened employee morale. In times when employee retention is challenging, employees will be grateful to work for a company who has a proven commitment to their health.

Workplace wellness and supporting employee wellbeing can include internal policies, procedures, education or programs that promote healthy behavior.

Join ¶¶Òõapp and Haley Prophet for a webinar on March 7th at 11:00 AM CST. You’ll hear the latest trends and considerations for incorporating wellbeing into your business strategy. To register, use the QR code above, or click the link below.

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September 1, 2022

In the current labor market, employees have higher expectations in terms of benefit offerings.  And, while employee expectations have risen, benefit budgets commonly have not.  In 2022, and moving into 2023, it’s advantageous for employers to think creatively about how they accommodate employee needs and interests while also controlling costs.

Have you been with your current carrier long term?  Has your plan design remained the same since implementation?  While we are in favor of long-term relationships with proactive plan design and funding review, it may be worth considering market alternatives to determine if your rates are competitively priced and your plan still meets your company’s needs.

We recently found success for one of our employer partners who had been with their ancillary carrier for over 10 years. They had company paid life insurance and company paid long-term disability in place.  Our hope was to identify plan savings while implementing plan enhancements for their workforce.  In going out to market, we were pleased to identify an annual savings of $27,000 for the company.  In addition, we raised the maximum monthly benefit on their LTD plan by $2,500 for all classes of employees.

Our marketing efforts proved to be a rewarding experience for our team.  The savings allowed our employer partner to be in a better financial position, and their employees felt valued due to the enhanced benefit offering.

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