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Not All Employee Benefits Decision Support Technology is Created Equal

Jan 30, 2020 7:10:13 AM / by Picwell posted in Open Enrollment, Benefits Decision Support, HR Tech

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The Top 5 Strategies to Increase CDHP Participation

Jan 9, 2020 4:15:14 PM / by Picwell posted in Open Enrollment, Benefits Decision Support, Health Insurance, Consumer Directed Health

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Studies show that most of your employees would save a significant amount of money by enrolling in a consumer driven health plan (CDHP). However, the majority of them will avoid this option at your next open enrollment because they’re unfamiliar with how CDHPs work and fear experiencing an economic loss. Their cognitive biases will ultimately cause them to miss out on more affordable (but still high-quality) health care and make your job of promoting these plans much harder. So, how do you get employees to move past these often irrational hurdles and consider electing what can be a financial win for both them and your company?

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5 Reasons Why Your Employees Choose Expensive Health Insurance

Jan 9, 2020 4:09:45 PM / by Picwell posted in Open Enrollment, Health Insurance, Consumer Directed Health

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Benefits Decision Support: 3 Reasons Why it’s a Huge Trend for HR

Jan 6, 2020 11:52:14 AM / by Picwell posted in Open Enrollment, Benefits Decision Support, HR Tech

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If you haven't already heard the term “employee benefits decision support,” chances are you will soon. In fact, a study by Willis Towers Watson estimates that 71% of employers will offer a decision support tool by 2020. This fast-evolving benefits trend has emerged due to three key reasons:

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The Psychology That Drives Open Enrollment

Dec 16, 2019 3:31:24 PM / by Picwell posted in Open Enrollment, Benefits Decision Support

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Your employees make countless decisions every day on the job. And, as part of the human condition, their psychological makeup underscores everything that they do. So, it should come as no surprise that it has an impact on how they handle making choices during open enrollment. Unfortunately, there are a handful of cognitive biases that cause employees to end up with suboptimal health plans for their circumstances. Fortunately, we’re going to identify them, discuss them, and provide suggestions for how you can help employees work through them.

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