Employee Benefits Survey Questions: A Strategic Guide for Executives and HR Leaders
In today’s competitive business landscape, employee benefits packages serve as crucial differentiators in attracting and retaining top talent. However, a concerning disconnect exists between employer perception and employee satisfaction. According to Aflac, while 80% of organizations believe their employees are highly satisfied with their benefits, only 58% of employees report high satisfaction. This gap represents […]
Positive Changes Ahead? How Tennessee’s SB 420/HB 870 Could Transform Financial Assistance in Your Insurance
Tennessee’s legislation recently introduced a bill that could put a lot of money back into consumers’ pockets. SB 420/HB 870 proposes guidelines on member cost-sharing, as well as restrictions on insurers, pharmacy benefit managers (PBMs), and third-party administrators (TPAs). Anyone with an interest in what is going on in the insurance industry will want to […]
Self Funded Healthcare Trusts: Types, Benefits, and Implementation Guide
In today’s challenging economic landscape, employers face mounting pressure to provide competitive healthcare benefits while managing escalating costs. Traditional fully insured health plans continue to see premium increases that outpace inflation, creating significant financial strain for organizations of all sizes. According to a 2023 Kaiser Family Foundation survey, employer-sponsored health insurance premiums increased by 7% […]
Behind the Scenes at BIP Magazine: A Full Circle Moment for EthosBenefits
It’s not every day that you get to be featured on the cover of a magazine, especially one as prestigious as BIP Magazine, the official publication of NABIP. For Chelsea and Donovan Ryckis, this was a milestone in their journey…a moment that validated years of hard work, dedication, and, of course, their commitment to transforming […]
What Does It Mean to Be a Fiduciary of a Health Plan?
Being a fiduciary of a health plan is a significant responsibility that comes with legal and ethical obligations. Fiduciaries play a critical role in ensuring that employee health plans are managed in the best interests of plan participants and their beneficiaries. But what does that really mean? Let’s break it down. Defining a Fiduciary A […]
8 Ways AI is Impacting Employee Benefits, How AI is Transforming Employee Benefits
Artificial intelligence (AI) is revolutionizing industries, and employee benefits are no exception. By leveraging AI, organizations can create more personalized, efficient, and cost-effective benefits programs. Here’s a closer look at how AI is reshaping the employee benefits landscape and enhancing the experience for both employers and employees. 1. Personalized Benefits Recommendations AI has the ability […]
The Biggest Misconception in Employee Benefits: Timing is Everything
When it comes to employee benefits, one of the most damaging misconceptions is this: you can only work on your healthcare strategy 3-6 months before your renewal. This mindset leads to poor decision-making and perpetuates the dreaded late renewal cycle, leaving HR teams and employers scrambling every year. The Post-Open Enrollment Relief: A False Sense […]
Unlocking The “Magic Trifecta” For Employee Benefits: Your Health, Your Family, Your Peace Of Mind
Have you ever felt that pang of envy when you hear about the amazing benefits your friends or family members enjoy? You’re not alone. According to a recent study, 59% of U.S. workers experience “benefits envy,” a modern-day form of FOMO that leaves us craving better coverage and support for our healthcare needs. But what if […]
Common Invoice Issues & Evidence Of Insurability
I speak with prospective clients who often say that their Open Enrollment went well, but they have these nagging invoice issues. If you notice that benefit amounts are incorrect on your invoices or employee deductions don’t match the carrier invoice, an Evidence of Insurability (EOI) issue might be the cause.
Breaking Down The J&J Lawsuit: What Employers Need To Know
Imagine going to a pharmacy to pick up your prescription and finding out that the same medication costs hundreds or even thousands of dollars more under your employer-sponsored health plan. This scenario is at the heart of a recent class action lawsuit filed against Johnson & Johnson (J&J), shining a spotlight on how employers manage their employees’ healthcare benefits.
