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Reporting Essentials brings together the most useful reports for trend insights and benefits optimization.
Reporting Essentials brings together the most useful reports for trend insights and benefits optimization.
Innovu's LENS Platform contains machine learning algorithms that unify data sourced from hundreds of external systems and links all human risk data at the member level.
Innovu's LENS Platform contains machine learning algorithms that unify data sourced from hundreds of external systems and links all human risk data at the member level.
Classifying Low-Cost generic drugs as Specialty Drugs dramatically increases the price that the employer pays.
Classifying Low-Cost generic drugs as Specialty Drugs dramatically increases the price that the employer pays.
Learn what opportunities for advisors are hidden within the CAA legislation.
Learn what opportunities for advisors are hidden within the CAA legislation.
Important CAA information for advisors and plan sponsors.
Important CAA information for advisors and plan sponsors.
Have you collaborated with your clients on their Fiduciary obligations under the Consolidated Appropriations Act (CAA)?
Have you collaborated with your clients on their Fiduciary obligations under the Consolidated Appropriations Act (CAA)?
The Innovu Pharmacy Program Analysis (PPA) is uniquely poised to help meet complicated compliance obligations. With a thorough data analysis that covers a variety of areas in pharmacy spending, PPA can help companies save money and reduce waste.
The Innovu Pharmacy Program Analysis (PPA) is uniquely poised to help meet complicated compliance obligations. With a thorough data analysis that covers a variety of areas in pharmacy spending, PPA can help companies save money and reduce waste.
See where critical errors were discovered and how savings were identified through a complete benefits assessment and learn more about how Innovu data analysis continues to provide the advisor with opportunities for plan improvement.
See where critical errors were discovered and how savings were identified through a complete benefits assessment and learn more about how Innovu data analysis continues to provide the advisor with opportunities for plan improvement.
With health care costs on the rise, advisors and their employer clients must pay close attention to their employer-funded healthcare coverage. Workforce analytics play a big role in overall organizational success, according to a joint study by MIT and IBM.
With health care costs on the rise, advisors and their employer clients must pay close attention to their employer-funded healthcare coverage. Workforce analytics play a big role in overall organizational success, according to a joint study by MIT and IBM.
Wasteful pharmacy spending is costing American employers millions. Find out how to curb healthcare costs through Pharmacy Program Analysis.
Wasteful pharmacy spending is costing American employers millions. Find out how to curb healthcare costs through Pharmacy Program Analysis.
Healthcare and retirement planning are intersecting now more than ever. Looking to transform your practice? Find out how to leverage HSAs and healthcare.
Healthcare and retirement planning are intersecting now more than ever. Looking to transform your practice? Find out how to leverage HSAs and healthcare.
In light of COVID-19, there are a number of factors at play that are having and will continue to have, a significant impact on an employer’s bottom line. Now is the time to pay attention to budget and staffing as organizations plan for 2021.
In light of COVID-19, there are a number of factors at play that are having and will continue to have, a significant impact on an employer’s bottom line. Now is the time to pay attention to budget and staffing as organizations plan for 2021.
In light of COVID-19, there are a number of factors at play that are having and will continue to have, a significant impact on an employer’s bottom line. Now is the time to pay attention to budget and staffing as organizations plan for 2021.
In light of COVID-19, there are a number of factors at play that are having and will continue to have, a significant impact on an employer’s bottom line. Now is the time to pay attention to budget and staffing as organizations plan for 2021.
In light of COVID-19, there are a number of factors at play that are having and will continue to have, a significant impact on an employer’s bottom line. Now is the time to pay attention to budget and staffing as organizations plan for 2021.
In light of COVID-19, there are a number of factors at play that are having and will continue to have, a significant impact on an employer’s bottom line. Now is the time to pay attention to budget and staffing as organizations plan for 2021.
With the cost of healthcare rising and the cost of pharmacy benefits rising even faster, advisors and employers need to find ways to cut spending and reduce waste without sacrificing benefits to their employees and their families.
With the cost of healthcare rising and the cost of pharmacy benefits rising even faster, advisors and employers need to find ways to cut spending and reduce waste without sacrificing benefits to their employees and their families.
COVID-19 further exposed enormous gaps in the US healthcare system that need to be addressed for the health of the nation and it's business communities. Changing the status quo won't be easy, but employers in the U.S. are ready to start.
COVID-19 further exposed enormous gaps in the US healthcare system that need to be addressed for the health of the nation and it's business communities. Changing the status quo won't be easy, but employers in the U.S. are ready to start.
In a post-COVID world, strategies that effectively manage healthcare spending are more vital than ever before.
In a post-COVID world, strategies that effectively manage healthcare spending are more vital than ever before.
Innovu Partners with CoreHealth Technologies to Provide Intuitive Analytics Software and Services to Help Companies Identify Savings In their Healthcare Benefits, Retirement and Workers Compensation Plans.
Innovu Partners with CoreHealth Technologies to Provide Intuitive Analytics Software and Services to Help Companies Identify Savings In their Healthcare Benefits, Retirement and Workers Compensation Plans.
Innovu’s multi-level platform provides three different views to unlock Transparency, ROI, and Accountability:
Innovu’s multi-level platform provides three different views to unlock Transparency, ROI, and Accountability:
Innovu’s unique combination of powerful technology and experienced consulting and analytic staff provide unparalleled support to advisors.
Innovu’s unique combination of powerful technology and experienced consulting and analytic staff provide unparalleled support to advisors.
Amazon’s recent acquisition of Whole Foods has increased speculation that the online giant is preparing to enter the prescription drug market. Some, like CNBC, think Amazon will disrupt the industry, lowering costs for consumer and profits for retails chains...
Amazon’s recent acquisition of Whole Foods has increased speculation that the online giant is preparing to enter the prescription drug market. Some, like CNBC, think Amazon will disrupt the industry, lowering costs for consumer and profits for retails chains...
Innovu: Enabling Organizations Gain Valuable Insights by Integrating Data
Innovu: Enabling Organizations Gain Valuable Insights by Integrating Data
For Every Project, a Trained Relationship Manager Who Has at Least 10 Years of Healthcare Consulting Experience Collaborations With Benefits Consultant
For Every Project, a Trained Relationship Manager Who Has at Least 10 Years of Healthcare Consulting Experience Collaborations With Benefits Consultant
The Memorial Hermann Health System (MHHS) in Houston learned an expensive lesson when it was fined $2.4 million for publicly naming an imposter seeking care at one of its facilities (National Law Review).
The Memorial Hermann Health System (MHHS) in Houston learned an expensive lesson when it was fined $2.4 million for publicly naming an imposter seeking care at one of its facilities (National Law Review).
More than 350 million people suffer from depression, making it the leading cause of disability around the world (World Health Organization). Closer to home, nearly 16 million American adults, or almost 7% of the adult population, had at least one major depressive episode in 2013...
More than 350 million people suffer from depression, making it the leading cause of disability around the world (World Health Organization). Closer to home, nearly 16 million American adults, or almost 7% of the adult population, had at least one major depressive episode in 2013...
Innovu’s groundbreaking Pharmacy Program Analysis helps advisors and employers identify crucial cost savings within an ever-growing pharmacy spend
Innovu’s groundbreaking Pharmacy Program Analysis helps advisors and employers identify crucial cost savings within an ever-growing pharmacy spend
While not new, value-based insurance design (V-BID) is getting a lot of attention as a way to improve health outcomes and reduce costs. The Centers for Medicare and Medicaid Services (CMS) began a 5 year pilot with MedicareAdvantage plans in 7 states.
While not new, value-based insurance design (V-BID) is getting a lot of attention as a way to improve health outcomes and reduce costs. The Centers for Medicare and Medicaid Services (CMS) began a 5 year pilot with MedicareAdvantage plans in 7 states.
The Federal Motor Carrier Safety Administration and Federal Railroad Administration backed off plans that would have required truckers and train operators with safety sensitive duties to be tested for obstructive sleep apnea.
The Federal Motor Carrier Safety Administration and Federal Railroad Administration backed off plans that would have required truckers and train operators with safety sensitive duties to be tested for obstructive sleep apnea.
Employers are focusing efforts on how healthcare is delivered and paid for according to the Large Employers’ 2018 Health Care Strategy and Plan Design Survey released by the National Business Group on Health on August 8.
Employers are focusing efforts on how healthcare is delivered and paid for according to the Large Employers’ 2018 Health Care Strategy and Plan Design Survey released by the National Business Group on Health on August 8.
You’ve spent months designing your new benefits package and the perks you offer your employees. But how do you know if you’re giving them what they want? A recent employee survey conducted by Namely sheds light on what really matters to employees—healthcare benefits.
You’ve spent months designing your new benefits package and the perks you offer your employees. But how do you know if you’re giving them what they want? A recent employee survey conducted by Namely sheds light on what really matters to employees—healthcare benefits.
An article posted in the Views section of the Employee Benefit News (EBN) website titled, 5 Steps to Improving Healthcare Benefits ROI, (free registration required) really got me thinking. Author Brain Ancell states that health benefits are a big financial investment...
An article posted in the Views section of the Employee Benefit News (EBN) website titled, 5 Steps to Improving Healthcare Benefits ROI, (free registration required) really got me thinking. Author Brain Ancell states that health benefits are a big financial investment...
The Kaiser Family Foundation and the Health Research & Educational Trust (HRET) released their 2017 Employer Health Benefits Survey in September. The report sheds light on the employer-sponsored insurance landscape, which covers around 151 million workers.
The Kaiser Family Foundation and the Health Research & Educational Trust (HRET) released their 2017 Employer Health Benefits Survey in September. The report sheds light on the employer-sponsored insurance landscape, which covers around 151 million workers.
This Halloween, the ghosts and goblins aren’t the only scary creatures out there. Now we have new threats scaring us that are very real and come in the form of computer hacks, malicious malware, and phishing scams. In the most recent Equifax breach...
This Halloween, the ghosts and goblins aren’t the only scary creatures out there. Now we have new threats scaring us that are very real and come in the form of computer hacks, malicious malware, and phishing scams. In the most recent Equifax breach...
If you’re like most employers, your benefits data sit in separate databases at different vendors. You really don’t think much about the data itself, relying instead on vendor reports to see how much your plan is costing you and the most prevalent conditions in your population.
If you’re like most employers, your benefits data sit in separate databases at different vendors. You really don’t think much about the data itself, relying instead on vendor reports to see how much your plan is costing you and the most prevalent conditions in your population.
As healthcare costs continue to rise, employers shift more of the burden to their employees. In 2017, employees’ share of total costs rose 5% from $3,378 to $3,550, while employers’ share rose less than 1%, from $6,350 to $6,401 (2017 United Benefit Advisors Health Plan Survey).
As healthcare costs continue to rise, employers shift more of the burden to their employees. In 2017, employees’ share of total costs rose 5% from $3,378 to $3,550, while employers’ share rose less than 1%, from $6,350 to $6,401 (2017 United Benefit Advisors Health Plan Survey).
The healthcare market could be changing drastically as more insurers, drug stores, and hospitals/health systems consider mergers and new partnerships. The most recent mega-deal has CVS Health purchasing Aetna for $69 billion. Other moves are underway.
The healthcare market could be changing drastically as more insurers, drug stores, and hospitals/health systems consider mergers and new partnerships. The most recent mega-deal has CVS Health purchasing Aetna for $69 billion. Other moves are underway.
You’re breathing a sigh of relief that open enrollment is over and you won’t have to think about healthcare benefits for the next several months. But you shouldn’t put your medical and prescription drug plans on the shelf so quickly.
You’re breathing a sigh of relief that open enrollment is over and you won’t have to think about healthcare benefits for the next several months. But you shouldn’t put your medical and prescription drug plans on the shelf so quickly.
The good news is that we’re living longer, but the bad news is that many are unprepared for the financial burden they face with longevity. This is raising concerns in several areas.
The good news is that we’re living longer, but the bad news is that many are unprepared for the financial burden they face with longevity. This is raising concerns in several areas.
You’re already under pressure to control benefits costs, so the news that employers should expect a 6.5% increase in health spending in 2018 (PwC’s Health Research Institute) has your head spinning. How can you manage your benefits programs when you’re at the mercy of external forces...
You’re already under pressure to control benefits costs, so the news that employers should expect a 6.5% increase in health spending in 2018 (PwC’s Health Research Institute) has your head spinning. How can you manage your benefits programs when you’re at the mercy of external forces...
Most of us to some degree have worried, stressed, or thought about having enough money to retire comfortably. Retirement readiness is the ability to be financially prepared to retire. We, as employees, want the standard of living we have now to continue into retirement.
Most of us to some degree have worried, stressed, or thought about having enough money to retire comfortably. Retirement readiness is the ability to be financially prepared to retire. We, as employees, want the standard of living we have now to continue into retirement.
Does investing in big data really make companies more profitable? According to the Harvard Business Review, 80.7% of Fortune 1000 executives surveyed report their big data investments as successful. Nearly half say big data helped them decrease expenses.
Does investing in big data really make companies more profitable? According to the Harvard Business Review, 80.7% of Fortune 1000 executives surveyed report their big data investments as successful. Nearly half say big data helped them decrease expenses.
One way for companies to combat their employees’ lack of retirement readiness is to throw cash at their 401(k) plans, but that’s a lot easier said than done. A solution that has longer term and multi-faceted, positive outcomes is a financial wellness program.
One way for companies to combat their employees’ lack of retirement readiness is to throw cash at their 401(k) plans, but that’s a lot easier said than done. A solution that has longer term and multi-faceted, positive outcomes is a financial wellness program.
President Trump vowed that drug “prices will come down” during his State of the Union address. But for now, drug companies continue to increase prices, which is a big concern for employers offering prescription benefits and consumers who pay a percentage of the costs.
President Trump vowed that drug “prices will come down” during his State of the Union address. But for now, drug companies continue to increase prices, which is a big concern for employers offering prescription benefits and consumers who pay a percentage of the costs.
Most employers offer dental benefits to employees and dependents. If you don’t, you should consider it. There’s plenty of research linking good oral health to better mental health and overall wellness. And the evidence is growing that routine dental care could reduce your medical claims costs.
Most employers offer dental benefits to employees and dependents. If you don’t, you should consider it. There’s plenty of research linking good oral health to better mental health and overall wellness. And the evidence is growing that routine dental care could reduce your medical claims costs.
Countless people experience financial stress. It doesn’t matter how much you make—financial stress does not discriminate. According to the American Psychological Association, 7 out of 10 respondents are very stressed about money. That stress brings many negative consequences.
Countless people experience financial stress. It doesn’t matter how much you make—financial stress does not discriminate. According to the American Psychological Association, 7 out of 10 respondents are very stressed about money. That stress brings many negative consequences.
I’ve been reading a lot of articles about the need for HR to become more data-driven. One article, Survey: Some Predict HR Will Be Automated, Data-driven and Strategic by 2022, states that the top 3 areas of focus over the next 5 years will likely be training and development, morale, and retention.
I’ve been reading a lot of articles about the need for HR to become more data-driven. One article, Survey: Some Predict HR Will Be Automated, Data-driven and Strategic by 2022, states that the top 3 areas of focus over the next 5 years will likely be training and development, morale, and retention.
Finding a return on investment (ROI) for a wellness program, whether it be health or financially focused, is a difficult task. Reasons include: Time and resources Delay in reaping a return Sometimes the measure is a cost avoidance...
Finding a return on investment (ROI) for a wellness program, whether it be health or financially focused, is a difficult task. Reasons include: Time and resources Delay in reaping a return Sometimes the measure is a cost avoidance...
You take great stock in the phrase, “You can’t manage what you don’t measure.” You establish key performance indicators and create reports to monitor your progress. Measuring is a key first step to understanding what you need to fix. But to make impactful change...
You take great stock in the phrase, “You can’t manage what you don’t measure.” You establish key performance indicators and create reports to monitor your progress. Measuring is a key first step to understanding what you need to fix. But to make impactful change...
For Seinfeld fans. George Costanza once famously (infamously?) quoted, “Worlds are colliding!”. In my work life, this is happening, without the negative connotation. As a credentialed actuary, I have a heavy interest in behavioral economics. I have always had an interest in why people do things.
For Seinfeld fans. George Costanza once famously (infamously?) quoted, “Worlds are colliding!”. In my work life, this is happening, without the negative connotation. As a credentialed actuary, I have a heavy interest in behavioral economics. I have always had an interest in why people do things.
Many employee decisions regarding benefits and well-being are affected by behavioral economics. Understanding the biases and heuristics that exist can help employers effectively communicate the benefits and program value to employees.
Many employee decisions regarding benefits and well-being are affected by behavioral economics. Understanding the biases and heuristics that exist can help employers effectively communicate the benefits and program value to employees.
I can’t even fathom how much $42 trillion is. But experts predict that it’s the price we will be paying for unhealthy behaviors, in both medical costs and lost productivity by 2030, if we don’t take steps to improve our health (Partnership to Fight Chronic Disease).
I can’t even fathom how much $42 trillion is. But experts predict that it’s the price we will be paying for unhealthy behaviors, in both medical costs and lost productivity by 2030, if we don’t take steps to improve our health (Partnership to Fight Chronic Disease).
Mergers of healthcare giants have made big news. If you’re like most of us, you’re asking: Why would a Prescription Benefit Manager (PBM) buy an Insurance Company? (CVS Health seeks to purchase Aetna for $69 billion) Why would an Insurance Company buy a PBM?
Mergers of healthcare giants have made big news. If you’re like most of us, you’re asking: Why would a Prescription Benefit Manager (PBM) buy an Insurance Company? (CVS Health seeks to purchase Aetna for $69 billion) Why would an Insurance Company buy a PBM?
How changes in prices from 1998 to 2018 reveal the shocking increase in the cost of hospital services
How changes in prices from 1998 to 2018 reveal the shocking increase in the cost of hospital services
Panera and UnderArmour are the latest large companies to experience data security breaches, according to a Washington Post article. Hackers stole consumer information from the rewards programs offered by both companies.
Panera and UnderArmour are the latest large companies to experience data security breaches, according to a Washington Post article. Hackers stole consumer information from the rewards programs offered by both companies.
Compound interest is not a simple concept. The best way to understand the power of accumulation is by visualizing it. So, most of this blog is going to be charts to help you visualize the concept.
Compound interest is not a simple concept. The best way to understand the power of accumulation is by visualizing it. So, most of this blog is going to be charts to help you visualize the concept.
Hospitals have been merging for more than a decade. Supporters claim that these consolidations improve care coordination and lower prices. But do they?
Hospitals have been merging for more than a decade. Supporters claim that these consolidations improve care coordination and lower prices. But do they?
Healthcare spending now accounts for 17.9% of our gross domestic product (GDP), and it’s expected to reach 19.7% by 2026 (CMS). Private health insurance spending rose 5.1% to $1,123.4 billion in 2016, accounting for 34 percent of total National Health Expenditure (NHE).
Healthcare spending now accounts for 17.9% of our gross domestic product (GDP), and it’s expected to reach 19.7% by 2026 (CMS). Private health insurance spending rose 5.1% to $1,123.4 billion in 2016, accounting for 34 percent of total National Health Expenditure (NHE).
Medical and prescription drug costs are projected to increase 6% in 2019, a rate that will outpace both inflation and wage earnings (PWC’s Health Research Institute). Several factors impact this rising trend (see Figure 1)—some driving cost increases and others helping to deflate them.
Medical and prescription drug costs are projected to increase 6% in 2019, a rate that will outpace both inflation and wage earnings (PWC’s Health Research Institute). Several factors impact this rising trend (see Figure 1)—some driving cost increases and others helping to deflate them.
Do you or your employees have metabolic syndrome? Do you know what metabolic syndrome is? The term is relatively new, so don’t feel bad if you haven’t heard of it.
Do you or your employees have metabolic syndrome? Do you know what metabolic syndrome is? The term is relatively new, so don’t feel bad if you haven’t heard of it.
I discussed a number of health and financial issues that are contributing to rising employer-paid benefits costs. One of the factors I didn’t mention is the amount we waste on healthcare spending.
I discussed a number of health and financial issues that are contributing to rising employer-paid benefits costs. One of the factors I didn’t mention is the amount we waste on healthcare spending.
Ah, Spring! At home the birds are chirping, tulips are blooming, and your annoying neighbor is running the lawnmower at 7:00 am on a Saturday!
Ah, Spring! At home the birds are chirping, tulips are blooming, and your annoying neighbor is running the lawnmower at 7:00 am on a Saturday!
A chronic disease is one lasting 3 months or more, as defined by the U.S. National Center for Health Statistics. Chronic disease affects health and quality of life, but it is also a major driver of healthcare costs. Take note of these eye-popping statistics from the CDC:
A chronic disease is one lasting 3 months or more, as defined by the U.S. National Center for Health Statistics. Chronic disease affects health and quality of life, but it is also a major driver of healthcare costs. Take note of these eye-popping statistics from the CDC:
Last week my blog focused on two danger zones that can increase your year-end prescription drug expenditures and derail your fiscal budget. This week I fill those potential financial potholes by highlighting three areas that can help reduce drug costs.
Last week my blog focused on two danger zones that can increase your year-end prescription drug expenditures and derail your fiscal budget. This week I fill those potential financial potholes by highlighting three areas that can help reduce drug costs.
If you’re like me, when you hear the phrase, “location matters,” you immediately think of real estate. But location plays a more critical role in our lives than I knew. Where we live affects our overall health, life expectancy, utilization, quality, and the costs we pay....
If you’re like me, when you hear the phrase, “location matters,” you immediately think of real estate. But location plays a more critical role in our lives than I knew. Where we live affects our overall health, life expectancy, utilization, quality, and the costs we pay....
Springtime not only brings rain showers and blooming flowers, but also starts renewal season for employee benefit programs. It’s during this critical time that you’re in the favorable ..., and to choose the best plans for you, your employees, and/or clients in the coming year.
Springtime not only brings rain showers and blooming flowers, but also starts renewal season for employee benefit programs. It’s during this critical time that you’re in the favorable ..., and to choose the best plans for you, your employees, and/or clients in the coming year.
With unemployment being lower and the economy continuing to be strong, employers need to attract and retain employees. The threat of quality employees leaving is higher now, and I am sure there is some pent-up desire to change jobs.
With unemployment being lower and the economy continuing to be strong, employers need to attract and retain employees. The threat of quality employees leaving is higher now, and I am sure there is some pent-up desire to change jobs.
Designing the optimal benefit plans for employees is a goal of most employers. Data analytics provides a huge assist in doing that. It is also nice to see where your plan designs fall when looking at other employers around the country.
Designing the optimal benefit plans for employees is a goal of most employers. Data analytics provides a huge assist in doing that. It is also nice to see where your plan designs fall when looking at other employers around the country.
New technology in the office can cause some anxiety, so use these strategies to help your employees adapt
New technology in the office can cause some anxiety, so use these strategies to help your employees adapt
Unum released the results of a 10-year study of the top 10 causes of disability. Those causes of both short- and long-term disabilities may surprise you: 2 of the top 5 causes of long-term disability are health-related. 2 of the top 5 causes of short-term disability causes are health-related.
Unum released the results of a 10-year study of the top 10 causes of disability. Those causes of both short- and long-term disabilities may surprise you: 2 of the top 5 causes of long-term disability are health-related. 2 of the top 5 causes of short-term disability causes are health-related.
Organizations can be found to be in breach of fiduciary duties even if not named
Organizations can be found to be in breach of fiduciary duties even if not named
It seems to be a good and important time to discuss the effects mental health has on the workplace and the new trends in getting help. According to the National Institute of Mental Health, 26% of American adults suffer from a diagnosable mental illness such as anxiety or depression every year.
It seems to be a good and important time to discuss the effects mental health has on the workplace and the new trends in getting help. According to the National Institute of Mental Health, 26% of American adults suffer from a diagnosable mental illness such as anxiety or depression every year.
No matter where you might fall on the health continuum, it is important to understand your health and how to manage it. You must make a conscious effort to be healthy. If you don’t, you will end up with major health issues, represented by the red box in Figure 1.
No matter where you might fall on the health continuum, it is important to understand your health and how to manage it. You must make a conscious effort to be healthy. If you don’t, you will end up with major health issues, represented by the red box in Figure 1.
Employers need to understand and appreciate that the opioid crisis isn’t just impacting disenfranchised and unemployed Americans. Working adults are addicted to opioids too. You need to take steps to combat the issue because it’s impacting more than just your healthcare costs.
Employers need to understand and appreciate that the opioid crisis isn’t just impacting disenfranchised and unemployed Americans. Working adults are addicted to opioids too. You need to take steps to combat the issue because it’s impacting more than just your healthcare costs.
You’re always seeking ways to keep your healthcare costs in check. One of the best ways is to understand what’s driving your costs. The International Foundation of Employee Benefits Plans (IFEBP) asked 500 employers to name the top 3 conditions driving costs (see table below).
You’re always seeking ways to keep your healthcare costs in check. One of the best ways is to understand what’s driving your costs. The International Foundation of Employee Benefits Plans (IFEBP) asked 500 employers to name the top 3 conditions driving costs (see table below).
Per person spending for medical and pharmacy services reached $5,641 in 2017 for those with employer-sponsored healthcare, the highest it has ever been according to the 2017 Heath Care Cost and Utilization Report.
Per person spending for medical and pharmacy services reached $5,641 in 2017 for those with employer-sponsored healthcare, the highest it has ever been according to the 2017 Heath Care Cost and Utilization Report.
While historically analytics was concentrated in descriptive analytics, recently and currently the focus is on predictive and prescriptive analytics. Do not be fooled by a vendor or carrier that claims they perform data analytics.
While historically analytics was concentrated in descriptive analytics, recently and currently the focus is on predictive and prescriptive analytics. Do not be fooled by a vendor or carrier that claims they perform data analytics.
While I was trying to think of a topic for this blog, my thoughts kept drifting to my upcoming vacation. I’m taking time off to be with my family and to get away from work. I began daydreaming about splashing and laughing in the ocean with my kids.
While I was trying to think of a topic for this blog, my thoughts kept drifting to my upcoming vacation. I’m taking time off to be with my family and to get away from work. I began daydreaming about splashing and laughing in the ocean with my kids.
From a macroeconomic perspective, the financial wellness environment slightly improved from last year. Results and opinions around financial stress and retirement confidence have not changed much from last year, according to PWC’s Employee Financial Wellness Survey—2018 results.
From a macroeconomic perspective, the financial wellness environment slightly improved from last year. Results and opinions around financial stress and retirement confidence have not changed much from last year, according to PWC’s Employee Financial Wellness Survey—2018 results.
I, like most of you, was fortunate to spend the holidays reminiscing with family and imprinting new memories in my mind. Looking back on the year and planning for the new one ahead sparked the idea for the topic of this post—the state of employer-paid healthcare benefits in 2018.
I, like most of you, was fortunate to spend the holidays reminiscing with family and imprinting new memories in my mind. Looking back on the year and planning for the new one ahead sparked the idea for the topic of this post—the state of employer-paid healthcare benefits in 2018.
We’re winning the war on opioids, according to a study by Avalere, which showed that the number of opioid prescriptions sold in the US declined 11% in 2017. The decline was steeper in states where legislation limiting prescriptions has been enacted.
We’re winning the war on opioids, according to a study by Avalere, which showed that the number of opioid prescriptions sold in the US declined 11% in 2017. The decline was steeper in states where legislation limiting prescriptions has been enacted.
How much of our health and well-being can we control? It turns out to be a large portion. At least where we have some control. The chart to the right shows that for 70% of the factors, we can exercise some control. Behavior accounts for the largest piece at 40%.
How much of our health and well-being can we control? It turns out to be a large portion. At least where we have some control. The chart to the right shows that for 70% of the factors, we can exercise some control. Behavior accounts for the largest piece at 40%.
Wellness plans, or at least features of a wellness plan, are a popular benefit offered by employers. But a complete integrated buy-in of wellness plans does not really exist among employers. There are a few understandable reasons for that—return on investment is difficult to measure...
Wellness plans, or at least features of a wellness plan, are a popular benefit offered by employers. But a complete integrated buy-in of wellness plans does not really exist among employers. There are a few understandable reasons for that—return on investment is difficult to measure...
A recent survey highlights the four main areas that need improvement in the healthcare industry
A recent survey highlights the four main areas that need improvement in the healthcare industry
Since the 1980s, obesity rates have doubled for adults and tripled for children. While the overall trend slowed from 2015 to 2016, obesity continues to be a growing concern in the US (NY Times). The overweight/obesity epidemic touches all regions of the country and age groups...
Since the 1980s, obesity rates have doubled for adults and tripled for children. While the overall trend slowed from 2015 to 2016, obesity continues to be a growing concern in the US (NY Times). The overweight/obesity epidemic touches all regions of the country and age groups...
Collecting health data can provide numerous insights into cost drivers, unnecessary costs, and potential savings. It is obviously very important to capture this data. Sometimes getting a big picture view of your health benefits isn’t easy.
Collecting health data can provide numerous insights into cost drivers, unnecessary costs, and potential savings. It is obviously very important to capture this data. Sometimes getting a big picture view of your health benefits isn’t easy.
You work hard to negotiate rates with in-network healthcare service providers to keep benefits costs in check. But there are a few cracks in the system that may result in costly charges to your members, even when they seek care in-network. These surprise bills primarily originate from three areas...
You work hard to negotiate rates with in-network healthcare service providers to keep benefits costs in check. But there are a few cracks in the system that may result in costly charges to your members, even when they seek care in-network. These surprise bills primarily originate from three areas...
The dominant healthcare coverage these days are plans that have a deductible, meaning employees must pay for first dollar coverage. According to the Kaiser Family Foundation, more than: 80% of covered workers have a plan with a deductible.
The dominant healthcare coverage these days are plans that have a deductible, meaning employees must pay for first dollar coverage. According to the Kaiser Family Foundation, more than: 80% of covered workers have a plan with a deductible.
Employers could save $4 for every $1 spent by providing more comprehensive mental healthcare coverage, according to a brief issued in September by the National Alliance of Healthcare Purchaser Coalitions. Ensuring proper care for the treatment of mental illness...
Employers could save $4 for every $1 spent by providing more comprehensive mental healthcare coverage, according to a brief issued in September by the National Alliance of Healthcare Purchaser Coalitions. Ensuring proper care for the treatment of mental illness...
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