Employee Benefits

July 13, 2023

Health Care Costs Projected to Grow 7% in 2024

Health care costs are expected to grow 7% in 2024 due to rising pharmaceutical expenses driven by specialty drugs and insurers increasing rates in response to inflation, according to an annual report from professional services firm PricewaterhouseCoopers (PwC). This trend is higher than 2022’s and 2023’s projected medical cost rates, which were 5.5% and 6%,...

July 12, 2023

Tackling the Talent Crunch: 3 Benefits That Improve Retention

The abundance of job openings, combined with a scarcity of available workers, has created a serious talent crunch that continues to raise the bar on retention. It also has sparked lively discussions between employers and their advisers about pursuing innovative strategies to win the talent war.  The U.S. is in the midst of a historically tight...

June 20, 2023

4 Ways to Make the Workplace Physically and Emotionally Safer

Most employees would not list working as a top source of enjoyment, but don’t make it worse than it needs to be.  A toxic workplace was the top reason given by employees who resign from their jobs, according to a recent report from FlexJobs. And while the causes for that are often a lack of work-life...

May 24, 2023

DOL Promotes Mental Health at Work Initiative

Amid Mental Health Awareness Month, the U.S. Department of Labor (DOL) launched its Mental Health at Work initiative to address mental health within the workplace and introduce resources for employees and employers alike. The DOL’s initiative aims to advance mental wellness in the workplace through the following strategies: The DOL explains that high-quality jobs provide safe workplaces,...

May 23, 2023

4 Things Employers Should Know About the State of the Workforce

While inflation has slowed down in the last year, its record highs in 2022 — which peaked at 9.1% last summer — will have lasting effects on employers and employees alike. According to global employment website Monster, 81% of workers report that their current wage has not kept up with the rising cost of living and inflation...

May 8, 2023

Supporting Employees During Mental Health Awareness Month and Beyond

Employee mental health has become a workplace topic of increased focus and awareness in recent years. An employee’s mental health includes how they think, feel and act, and their emotional and social well-being. While mental health includes mental illness, these two concepts aren’t interchangeable. For example, an employee can go through a period of poor...

May 2, 2023

Spring Cleaning in the Workplace for Better Mental Health

While springtime is often associated with cleaning and resetting one’s personal space, these principles can be applied to the workplace, too — and that doesn’t just mean reorganizing your desk.  According to Kaiser Family Foundation, symptoms of depression and anxiety have continued to increase three years into the pandemic. In fact, 90% of U.S. adults believe the...

April 24, 2023

To Battle Inflation, Employees Are Forgoing Healthcare

What does inflation have to do with healthcare? As far as consumers are concerned, just about everything.  The cost of healthcare is not immune to historic levels of inflation: A recent report by WTW predicts that global healthcare benefit costs will jump 10% in 2023. Coupled with rising consumer prices, and unaffordable healthcare can have troubling and swift...

April 11, 2023

Rising Workers’ Compensation Expenses Linked to Facility Services Costs

A report from the National Council on Compensation Insurance (NCCI) examining countrywide medical cost trends revealed that health care facility services costs accounted for 40% of workers’ compensation expenses during 2021 and increased by an average of 3% throughout the past decade. Although specific trends varied by facility type, the report found that the two...

March 27, 2023

What Do Your Benefits Say About Your Company’s Culture?

When a list of benefits stands alone on a job posting, it can sound like standard issue workplace jargon. That’s why more employers are advertising their company culture as a way to set themselves apart. By intertwining the two, companies can create a more compelling presentation and entice talent.  According to a survey of 2,000 workers by...