Benefit strategies

Worker have been slow to move online for medical visits, but research shows employee utilization rates soar when co-pays are eliminated, says Willis Towers Watson’s Allan Khoury.

In the drive to promote employee engagement, organizations are likely missing the mark if they don’t realize that many employees have more urgent needs, such as lack of sleep or financial stress, that divert their attention from focusing on physical health.

Employers are already swamped enough dealing with a litany of benefit issues. That’s why, a panel of plan sponsors explained at the NAPA 401(k) Summit, they are looking for benefits help from their advisers.

It’s tough to keep good people, but EBRI CEO Harry Conaway, says employers willing to let staff work where and when they want have a better shot at maintaining all-stars.

As DC plans continue to be the retirement benefit offering of choice for many employers, they’re being called upon to be more thoughtful about the funds they make available to participants.

Encouraging employees to purchase critical illness insurance encourages them to become better educated about their benefits plan, according to Sun Life’s Bryan Burke.

With an emphasis on pounds lost, rather than healthy, sustainable behavior change, traditional programs can leave employees feeling discouraged and disengaged.

Employers are already swamped enough dealing with a litany of benefit issues. That’s why, a panel of plan sponsors explained at the NAPA 401(k) Summit in Nashville, they are looking for benefits help from their advisers.

California’s paid family leave benefits will increase to 60% or 70% of weekly normal earnings beginning in 2018, but as a result of a city ordinance, San Francisco employers will have to top up these benefits to 100% of salary for some workers.

With another tax season come and gone, companies should weigh their options when expanding the workforce in Q2.

Worker uptake of the benefit has been slow, yet research shows utilization rates soar when there is no employee co-pay, according to Dr. Allan Khoury of Willis Towers Watson.

Outstanding student loans are affecting baby boomers who may be helping their kids pay down balances owing instead of saving enough money to fund their own retirement.

Purchasing critical illness insurance for employees and offering them the option to buy more encourages them to become better educated about their benefits plan, according to Sun Life’s Bryan Burke.

Some employer clients may ignore perks that require specialized knowledge, but they shouldn’t, according to Captain401’s Roger Lee.

EBRI CEO Harry Conaway, speaking this week at the NAPA 401(k) Summit in Nashville, says employers need to embrace the growing benefit trend to help keep and attract employees.

The DOL’s rule is good news for plan sponsors, but many are still confused, says registered investment adviser Robert Lawton.

Workers without access to the benefit are three times more likely to delay, or put off entirely, needed medical care for themselves and almost twice as likely to forgo medical care for their family members, according to new research.

Delivering the right message can make skeptical employees active participants in a well-being plan, says Viverae's Mike Lamb

Health insurance and retirement accounts can require a substantial amount of specialized knowledge and research, which can sometimes lead to decisions about them being put on the back burner indefinitely, according to Captain401’s Roger Lee.

It’s important to educate employers and workers about available HSAs, HRAs and FSAs so that employees can get the most out of them.