Picwell Blog

Picwell Insights: Who Enrolls in Supplemental Benefits (and Who Should?)

Oct 21, 2022 11:05:02 AM / by Picwell posted in Open Enrollment, Benefits Decision Support, HR Tech, employee benefits, empower wise choices,, supplemental benefits, voluntary benefits, risk aversion, financial wellness

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As we covered in our last blog post, supplemental benefits can be an important part of an employee's total benefits package. According to the most recent Aflac WorkForces Report, “more than half, 51%, of all American workers view supplemental benefits as a core component of a comprehensive benefits program,” and, while only about one-third of employees had access to supplemental benefits through their employers, most employees stated that the need for supplemental insurance has been increasing.

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Picwell Insights: Making the Case for Supplemental Benefits

Oct 18, 2022 8:00:00 AM / by Picwell posted in Benefits Decision Support, employee benefits, empower wise choices,, supplemental benefits, voluntary benefits, hdhp, financial wellness

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In this era of financial instability it is more important than ever for your organization to provide a well-crafted benefits package. And this includes more than just health insurance. Supplemental benefits have begun to take center stage during benefits enrollment, and for good reason. In this article, we’ll review exactly what supplemental benefits are and how they can help employees further protect themselves against risk while saving them money in the process.

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How Benefits Decision Support Can Help Reduce the Effects of Inflation

Oct 13, 2022 8:00:00 AM / by Picwell posted in Open Enrollment, Benefits Decision Support, Health Insurance, benefits professionals, virtual open enrollment

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We all know prices have been consistently increasing over the past several months - but just how much have they actually increased and how is that affecting your employees? Here’s some perspective: Food prices have risen by 11% in the last year. For a family of 4 on a moderate budget, that translates to around an extra $125 per month in groceries! With inflation reaching levels we haven’t seen in over 40 years, everyone is thinking about ways to spend smarter and optimize their budgets. 

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Health Savings Accounts: How Often Are They Recommended?

Oct 6, 2022 1:58:37 PM / by Picwell posted in Open Enrollment, Benefits Decision Support, Health Insurance, benefits professionals, health savings account, hsa, risk aversion

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In our last few blog posts, we explored Picwell’s health plan recommendations. We reviewed how preferences and financial wellness affect benefits decisions, and how often employees actually choose Picwell recommended plans. 

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Picwell Health Plan Recommendations: What Do Employees Actually Choose?

Oct 5, 2022 11:18:00 AM / by Picwell posted in Open Enrollment, Benefits Decision Support, Health Insurance, health savings account, virtual open enrollment, benefits communications, risk aversion

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In our last blog we explored reasons why the lowest cost health plan may (or may not) always be the best option. We also reviewed how Picwell recommendations work to help guide employees to the best plans for their needs. But, while Picwell will recommend a specific plan, employees may still choose something other than the recommendation. 

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Is the Lowest Cost Health Plan Always the Best Option? (Part 2)

Sep 29, 2022 2:46:25 PM / by Picwell posted in Benefits Decision Support, Health Insurance, health savings account, hsa, virtual open enrollment, risk aversion

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So far we’ve reviewed how preferences and financial wellness impact employees’ benefits selections and as a result, why the lowest cost plan is not always the best option.

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Picwell Insights: The Role of “Capacity to Pay” in Employee Benefits Decisions (Part 2)

Sep 27, 2022 8:00:00 AM / by Picwell posted in Benefits Decision Support, Health Insurance, employee benefits, health savings account, empower wise choices,, risk aversion, financial wellness

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In our last post, we covered the concept of employees’ “capacity to pay” for unexpected medical bills. As many as 40% of employees would not be able to afford a surprise medical bill of $1,000 or more, and, given this result, it's important for employees to consider their financial preparedness for unexpected costs when choosing benefits. 

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Picwell Insights: The Role of “Capacity to Pay” in Employee Benefits Decisions

Sep 22, 2022 8:15:00 AM / by Picwell posted in Benefits Decision Support, Health Insurance, employee benefits, health savings account, empower wise choices,, voluntary benefits, risk aversion

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Every year, the Federal Reserve conducts a study on the financial health of American households, and one of the most frequently cited statistics from this study comes from the following question:

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4 Tips for Choosing the Right Benefits Decision Support Solution

Aug 17, 2022 8:45:00 AM / by Picwell posted in Open Enrollment, Benefits Decision Support, Health Insurance, health savings account, employeebenefits, company culture, employer brand, supplemental benefits, voluntary benefits, virtual open enrollment

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Open enrollment is almost here and it’s time to commit to a benefits decision support solution. As you evaluate your options, we know that the process can feel overwhelming. With all of the tools available on the market, it can be difficult to determine which one will work best for your organization’s (and your employees’) needs. But, you’re in luck - we’ve compiled our top tips to ensure you choose the right benefits decision support solution this year.

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Meet the New Picwell DX

Jul 19, 2022 11:30:00 AM / by Picwell posted in Open Enrollment, Benefits Decision Support, HR Tech, benefits professionals, voluntary benefits

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We're thrilled to announce our big news...

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