health
January 12, 2024
Driving Down Health Cost Spend in 2024
As business leaders begin budgeting and strategizing for 2024, many are faced with balancing two items when it comes to benefits: ensuring low costs and prioritizing employees’ requests to offer better health benefits. With benefits slated as the second largest people expense for businesses, next to payroll, and health care costs across the nation estimated...
December 18, 2023
4 Key Trends Driving Employer Health Care Costs in 2024
Amid ongoing inflation pressures, employees and employers alike can expect their health care costs to increase in 2024. Global professional services firm Aon reported that health care costs for employers will grow by 8.5% in 2024 (to more than $15,000 per employee), nearly double 2023’s figure. Here are four key trends driving employer health care...
December 5, 2023
High Health Care Costs Are Impacting Americans’ Physical and Mental Health
More than half of consumers feel stressed when paying their medical bills, and more than 9 in 10 say these payments have impacted their physical and mental health, according to a study from health care payment processing company PayMedix. Unaffordable medical bills, higher deductible health plans and confusing bills have increased physical and mental health...
November 28, 2023
Why Holiday Stress Doesn’t Need to Derail Productivity
While the holidays should be a time of festivities and fun, high expectations paired with the end-of-year work push can cause many employees to feel burned out before the new year even starts. Forty-five percent of employees are worried about their stress levels during the holiday season, according to mental health platform, BetterHelp. Finances, shorter deadlines,...
November 20, 2023
Fostering a Culture of Workplace Safety
Fostering a strong safety culture provides many benefits. In addition to reducing the risk of workplace accidents, such a culture can also help improve employee morale, enhance a business’s reputation and minimize related costs and liabilities. This article explains what it means to have a strong safety culture, outlines associated benefits and provides strategies companies...
November 9, 2023
Employer-reported Nonfatal Workplace Injuries and Illnesses Up 7.5% From 2021
Private industry employers reported a 7.5% increase in nonfatal workplace injuries and illnesses in 2022 compared to 2021, according to the U.S. Bureau of Labor Statistics. The incidence rate of total recordable cases was 2.7 cases per 100 workers who are full-time equivalent (FTE). In 2022, the rate of injury cases remained at 2.3 cases...
November 1, 2023
More Individuals Downgrading Insurance Plans Due to Rising Health Care Costs
The most recent Nationwide Retirement Institute Health Care Costs in Retirement survey found that many Americans are not confident in their ability to pay health care costs as they age. According to the survey, over half of respondents said they’d be unable to pay off an unexpected $5,000 health care expense, and a similar number...
October 30, 2023
Report Finds Health Care Spending Expected to Exceed Overall Economic Growth
A recent report from the Centers for Medicare and Medicaid Services (CMS) predicted that the average growth in national health expenditures would outpace average gross domestic product (GDP) growth from 2022 to 2031, at 5.4% and 4.6%, respectively. Per person spending is also expected to increase to an annual rate of 4.8% from 2022 to...
October 23, 2023
Report Shows Top Priorities and Challenges for 2024 Open Enrollment
New research from digital media company Arizent revealed employee benefits leaders’ biggest challenges and strategies for increasing benefits utilization. These findings can help shape employers’ 2024 open enrollment plans. While employers already invest significant time and resources researching and designing their benefits plans, many feel like there is still work to be done to ensure...
September 27, 2023
Inclusive Mental Health Initiatives: A Powerful Differentiator for Employers
Mental health is not just a public health issue. It is also a workplace issue. Employers who cultivate a company culture that proactively supports mental wellness can gain a competitive edge in their ability to attract and retain talent. “An employer’s support of mental health in the workplace can be a differentiator in today’s challenging...