Employee Perks That Make The Holidays Merry

by David Rook on Dec 04, 2015

Employee Perks That Make The Holidays Merry

It’s that time of year again: the time when employers ponder ways to show their employees appreciation for a job well done and employees hope for a little something extra under the tree. How can you ensure that the holiday perks you have in mind are the ones that will really resonate with your employees?

Giving the Gift of Time

Around the holidays, one of the scarcest commodities anyone has is time. Savvy employers discern that employees highly prize generous holiday leave policies.

Some small, locally owned industries manage to arrange their production schedules in such a way that they can close their doors between Christmas and New Year’s every year. While juggling the production schedule requires forethought and fine planning skills, companies that manage this perk reap the rewards of high employee morale as the holidays near.

Topics: Employee Benefits, Company Culture, Education

Employee Revolt: The Rise and Fall of Black Friday

by David Rook on Nov 20, 2015

Employee Revolt: The Rise and Fall of Black Friday

Black Friday has become an enormous "tent pole event" for both retailers and consumers. The day after Thanksgiving has become synonymous with outrageous deals – but also outrageous lines, all-night camp outs, poorly-staffed stores, and sometimes violent confrontations between shoppers vying to be the first to the shelves.

For a long time, Black Friday was seen as simply a good day to get a jump on Christmas shopping and save some money. However, in recent years, store openings have crept earlier and earlier, even into Thanksgiving itself, and viral videos of stampeding shoppers, brawls, and even some deaths have contributed to a growing sense that the “holiday” has gone too far. Add to this the complaints from employees on social media and the rise in popularly of online/mobile shopping, and one gets the sense that the importance of Black Friday is finally waning.

Topics: Employee Benefits, Company Culture, Education

Leveraging Employee Benefits to Recruit and Retain Top Talent

by David Rook on Nov 17, 2015

Leveraging Employee Benefits to Recruit and Retain Top Talent

SHRM’s 2015 Strategic Benefits Study is out, and for employers hoping to remain competitive when recruiting, a strong portfolio of non-cash benefits remain a key pa rt of any total compensation package. That said, and not surprisingly, pay considerations (salary, raises, bonuses and commissions) still remain the most important element of employee compensation.

Communicating Value Is Key To Influencing Decisions

For a highly valued candidate with multiple job offers, the role of employee benefits in swaying their decision can be enormous. According to the 2014 Aflac Workforces Report, 59 percent of employees are likely to accept a lower salary in exchange for better benefits.

Topics: Employee Benefits, Recruiting

Putting It Into Practice: Real World Examples Of Where A Medical Director On Staff Made All The Difference

by David Rook on Nov 10, 2015

Putting It Into Practice: Real World Examples Of Where A Medical Director On Staff Made All The Difference

After we published our last blog on the importance of choosing a employee benefits broker with a Medical Director on staff, several readers asked for some specific examples of how skilled Medical Directors like ours can improve patient care outcomes while still reducing costs. So, we thought we would share a few real life examples with you to illustrate the point.

Lowering Expenses, One Member at a Time

An expensive diagnostic procedure was ordered for “Member A” during a follow-up visit with her physician for a potential thyroid condition. Her insurance plan required a pre-authorization for the procedure, which was flagged for review by our Medical Director.

Topics: Employee Benefits, Cost Containment

Why An On-Staff Medical Director Is Critical To Managing Employee Benefits

by David Rook on Nov 09, 2015

Why An On-Staff Medical Director Is Critical To Managing Employee Benefits - Featured Image

How We Are Managing Employee Benefits Better with an On-Staff Medical Director

Companies who work closely with an employee benefits broker to develop their benefits packages rely heavily on the expertise of these employee benefits advisors to help them meet their employees’ needs and comply with all state and federal requirements.

Not only that, employers depend on these benefit consultants to get them the best possible ROI for their benefits investment, and bend the cost curve downward wherever possible.

But not all brokers are created equal in terms of what they can offer to their clients in this regard. Among other factors to consider when deciding upon a broker, it is wise to choose a benefits broker with a Medical Director on staff.

Why is this so important? Healthcare today is an incredibly complicated field.

Achieving a high standard of patient care involves interdisciplinary communication and multi-organizational cooperation. If you have ever attempted to unravel an insurance claim issue on your own, you know the frustration of dealing with a somewhat fractured medical delivery system.

Topics: Employee Benefits, Cost Containment

The Pros and Cons of Consumer-Driven Healthcare

by David Rook on Nov 06, 2015

The Pros and Cons of Consumer-Driven Healthcare

For the past fifteen years, a relatively small but growing number of businesses have been offering an alternative to traditional employer-managed health care: consumer-driven health care.

Consumer-driven health care is a name for the practice of setting up employee health plans with low premiums, high deductibles, and savings accounts. The goal of these plans is to reduce costs for employers, prompt employees to make more educated decisions about the care they seek, and increase the percentage of employees that have access to insurance. The reality, however, is not that simple, and there are a number of pros and cons to consumer-driven health care.

When consumer-driven health care was first introduced in the early 2000s, it was wildly unsuccessful. It was simply a way for employers to shift the cost of health care onto their employees. Sure, consumers had more options, but none of them were good. The high deductible and tax-exempt nature of the savings account meant that both the employer and the employees were spending less money on health care upfront, but if the employee got sick the majority of the cost was deferred onto them, whereas with a plan with a lower deductible the employee and employer would share the costs more evenly.

Topics: Employee Benefits, Cost Containment, Education

Benefits That Matter Most, Part Three: The Multi-Cultural Workforce

by David Rook on Oct 22, 2015

Benefits That Matter Most, Part Three: The Multi-Cultural Workforce

Hispanics now account for 16 percent of the total American workforce. That figure is expected to more than double by 2050, and doesn’t even take into account workforce statistics from other cultures. Such diversity in culture can bring about challenges when it comes to employee benefits planning.

Welcome to Part Three of our blog series, “Benefits That Matter Most.” In Part One, we discussed the needs and priorities of Millennials in the workplace. Part Two explored the issues that face employers with a Multi-Generational workforce. In Part Three, we will address the impact of Multi-Cultural workforces on employee benefits.

Topics: Employee Benefits, segmentation

Benefits That Matter Most, Part Two: The Multi-Generational Workforce

by David Rook on Oct 20, 2015

Benefits That Matter Most, Part Two: The Multi-Generational Workforce

For the first time ever, employers find themselves with four generations of employees working side-by-side. Such diversity in age in the workforce, which drives different needs and attitudes, can bring about challenges when it comes to employee benefits planning.

Welcome to Part Two of our blog series “Benefits That Matter Most." While Part One focused on Millennials, here we’ll focus on the impact of employing a workforce whose ages span multiple generations. What is the impact of multi-generational workforces on employee benefits? What special challenges do employers face with a multi-generational workforce, and how can employers meet the varying needs of their employees in such an environment?

Topics: Employee Benefits, segmentation

Benefits That Matter Most, Part One: The Millennial Mindset

by David Rook on Oct 16, 2015

Benefits That Matter Most, Part One: The Millennial Mindset

This is the first of our new 3-part blog series, “Benefits That Matter Most.” This series will examine ways to tailor benefits packages to appeal to several diverse groups of employees. In Part One, we’ll explore how millennials are changing the way benefit packages are designed in the workplace. Part Two will discuss the unique challenges of crafting a benefits package to appeal to a multi-generational workforce, while Part Three will focus on benefits that appeal to a multi-cultural workforce.

The Millennial Challenge

There can be no doubt that the benefits landscape is changing with the wave of millennials now joining the workforce. Traditional benefits packages typically do not address all the points that millennials are looking for as they enter the job market. Attracting top talent from the millennial generation requires a more creative approach.

Topics: Employee Benefits, millennials, segmentation

Healthcare Innovation Through Disruption: Paying Patients To Save Money

by David Rook on Oct 15, 2015

Healthcare Innovation Through Disruption: Paying Patients To Save Money

As a continuation of our on-going series on innovations in healthcare cost containment, today we turn our attention toward Vitals, a company that is on a mission to become “the Priceline of healthcare”. Vitals is a welcome addition to an industry in which costs can be opaque and consumers often feel powerless.

The absurd price disparities in the American healthcare system stand out as one of its most frustrating features. For example, a brain MRI ranges from $209 to $5,560, and while one place might charge $300 for a blood test, another charges just $75. A mammogram could range in price from $23 to $1,929.

Vitals software helps consumers compare prices of anything from a simple blood test to major surgery. Patients can research cost, availability and quality ratings for various providers, thereby enabling informed decisions.

Topics: Employee Benefits, Cost Containment, Innovation

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