In today's competitive job market companies can find it hard to afford to retain quality candidates. For nonprofits specifically, this is even more challenging. How can an organization that isn't self-funded offer benefits that will attract and retain highly skilled individuals? The answer to this lies in more substantial employee healthcare.
Image: Reader's Digest
Anthony Lopez writes for The Business Journals about the business owner's daunting task of navigating health insurance options, and how different options will affect their business.
A few years ago, the Journal of Health Economics found that 86 percent of Americans couldn’t define the basic terms associated with their health insurance – deductible, copay, coinsurance, and out-of-pocket maximum. And in 2016, a survey by PolicyGenius found that 96 percent of Americans overestimate their understanding of these terms, with only 4 percent able to define all four of the above concepts. The correlating result? This lack of knowledge or true understanding is likely leading to increased – and possibly unnecessary – healthcare spending.
This editorial piece by Merrill Goozner, editor of Modern Healthcare, looks at the challenges of rising healthcare costs, and how those rising costs impact employees' spending in other ways.
This article written by Cort Olsen for Benefits News discusses Met Life's 14th Annual U.S. Employee Benefit Trend Study, which examines benefits trends in the public sector.
Jack Craver writes for Benefits Pro about a new report from the Society of Human Resource Management that displays the effect that rising healthcare costs has had on employers and employees.
Hank Gardner wrote this article for STAT, discussing recent research about the correlation between healthcare cost increases and slow wage growth, and how employers can carry out “their own do-it-yourself, market-based health care reform.”
Jack Craver writes for Benefits Pro about the increase of self-insuring healthcare benefits among small and mid-size businesses.
As the cost of providing employees with healthcare benefits rises (at an average of $500 per employee this year), many employers are choosing to push those costs onto employees in order to maintain budgets.
Image: SHRM
Stephen Miller writes for the Society of Human Resources Management, “On July 1, the U.S. Department of Labor (DOL) published an interim final rule with a list of increased penalty amounts for violations of the Employee Retirement Income Security Act (ERISA), the Family and Medical Leave Act (FMLA), the Fair Labor Standards Act (FLSA), and other employee benefit and pay statutes.
