Healthcare

How one company used a virtual benefits fair to tame employees' inertia and boost engagement during open enrollment.

Among the many provisions of health care reform legislation is a mandate to cover all preventive services at 100%. Although this provision does not go into effect for grandfathered plans until 2014, it already is in effect for nongrandfathered plans.

Browsing the Web could soon beat out baseball as the American pastime. Many of your employees use the Internet to research their health care options, their new diagnoses or their new diet. The problem is, there are thousands, if not millions, of health care websites.

As you start your day as a busy benefits professional, you turn on the morning news, and you hear that the Department of Health and Human Services has changed the Form W-2 health insurance reporting requirement effective date from 2011 to 2012.

Workplace clinics give literal meaning to the phrase "Taking care of our employees." However, savvy-thinking employers are taking strategic steps to determine what's in and what's out when it comes to health services rendered onsite.

When it comes to addressing end-of-life needs and services, most people know it's important to plan ahead in order to make sure that their family will not be burdened with overwhelming decisions during a difficult time. Even so, many people put it off because they would rather not have to think about the topic.

Years ago when I approached a crusty old broker from down south about enrolling his voluntary benefits cases, he told me he didn't sell voluntary because, "Boy, the juice ain't worth the squeeze."

The decline in plan sponsor appetite to change recordkeepers has dropped at a steady rate, not in spikes, which makes it likely that we will not see a dramatic increase any time soon. Meanwhile, many of the larger, more established recordkeepers are having record years; that means the rich keep getting richer while the rest are suffering.

Without delving too deeply into philosophy, it is probably safe to say that some people are compelled to do the right thing only because of the fear of punishment. As a young child, if I had the opportunity to take an extra cookie and not get caught, I may very well have taken full advantage of the situation. However, more often than not, the fear of getting caught with my hand in the cookie jar prevented me from doing it.

From analyzing the developing definition of fiduciary to discussing the best ways for advisers to differentiate themselves from the competition, the American Society of Pension Professionals & Actuaries' "10th anniversary 401(k) SUMMIT" gave more than 950 attendees plenty of tricks of the trade to improve their business and stay informed on industry developments. Held March 6-8 in Las Vegas, the SUMMIT drew a range of retirement advisers, recordkeepers, plan administrators and others from across the country.