As you know, the scope of employee benefits goes beyond health care and paid time off. Flexible work schedules in particular are gaining popularity, and any company that is interested in offering top-notch benefits should consider a workplace flexibility program. “Flexible work options are sought after by most employees, and people see them as not only a perk that makes their lives better, but a way of working that makes them better at their jobs,” says Brie Reynolds, senior career specialist at FlexJobs. Here’s what you need to know about offering workplace flexibility.
The Employee Benefits Blog
Many surveys and industry analysts are predicting employer health insurance costs will rise by 5 or 6 percent in 2017. As you research plans and costs for next year, keep this expected increase in mind. The increase may be more pronounced for small businesses because they have less bargaining power than larger organizations.
The Affordable Care Act has been law since March 2010, but there have been a lot of changes annually — new rules, delays and extensions have made it feel like a new law every year. 2017 will be no different; here are the latest changes you’ll need to know about in the coming year.
More employers than ever are realizing the effect that financial stress has on employees, and how it affects their productivity. To alleviate this, many are offering financial wellness programs to educate employees about budgeting, retirement planning, estate planning and even college savings. Could your staff benefit from more financial education?
The following articles can help you decide whether a financial wellness program is right for your organization.
Vision & Learning Month is a great time to revisit the vision benefits you’re offering to determine whether they’re as good as they can be. A lot of carriers are bringing products with more features and options to market, as I mentioned in when contacted for a recent article in Business Insurance. And employees are responding: According to the latest annual Employee Perceptions of Vision Benefits survey, vision is the only benefit to experience increased enrollment.
Workplace wellness programs are more popular than ever. They’re also becoming more comprehensive, targeting much more than just flu shots and smoking cessation. With these new developments come new concerns and issues to address. Will your program handle mental and emotional health? Will you use wearables and apps? What privacy concerns will this create? Most importantly, how will you judge the success of your wellness program?
Even in a strong economy, financial concerns weigh heavily on employees’ minds. This distraction and stress can affect productivity, so many employers are looking at financial wellness benefits to help employees manage their concerns. Prudential describes it as “the next frontier” in wellness programs: more than 40 percent of companies say they have a financial wellness strategy in place or plan to introduce one. On Financial Wellness Awareness Day (Aug. 14), consider instituting a financial wellness program at your company. Here’s what you need to know.
Vision insurance is often seen as less important than health or dental coverage. Some people are lucky enough to have perfect vision, so they don’t need glasses or contacts the same way everyone needs routine physicals or dental exams. It’s still important to have routine eye exams, however, to protect the health of one’s eyes and other important systems. Eye exams can detect early stages of diabetes, some cancers and possibly even Alzheimer’s disease.
Open enrollment is just around the corner for most companies. Now is the time to start preparing for what is often a long and difficult process. Ideally you treat open enrollment as a year-round process, of course — but even if you do, this is the time of year when the reality of another open-enrollment season starts to set in.
Many HR and benefits professionals spend a great deal of time thinking how best to woo and retain millennials. That’s important, but so too are your older workers who may be concerned about how they’ll pay for health care once they retire. Medicare and Medicaid can offer them some assistance, but do not offer the flexibility of long-term-care insurance. This benefit can safeguard income in the event an employee, of any age, requires assistance with daily living tasks such as eating, bathing or driving. Illness or accident could create this need for anyone, but those nearing retirement are more likely to be interested in this benefit, which is admittedly costly.