We all know the #1 reason Reagan's handlers pushed 401(k) was the instant payoff especially to Executive Life and Drexel... ERISA allowed them to replace properly managed pension funds with essentially unsupervised "guaranteed insurance contracts"...guarantees that in the end were paid for by the taxpayer.
This is much the same as Cheney's blood-for-oil arrangement. Neither Cheney nor Reagan got much out of their promises (except for high office).
The objective is to have a clear view of baseline vs. current Rx trend, documented savings tied to interventions and a reconciliation check on guarantees and rebates.
Employees are struggling to figure out how income, savings, employee benefits and government programs like Medicaid fit together.
Employees are turning to consumer health apps instead of workplace benefits, highlighting a growing gap between what companies offer and what workers use.
The key to success is reviewing an administrator's fiduciary status, licenses they hold with carriers and the agent of record that is going to service the policy.
Leadership lessons learned on the field — and the front lines of innovation.
Behavioral health services deliver a 507% ROI for employers, driven by lower medical costs, reduced disability claims and improved productivity gains.
