Picwell Blog

For Employees: 5 Reasons You Hate Choosing Health Insurance Every Year

Jun 17, 2020 9:05:00 AM / by Picwell posted in Open Enrollment, Benefits Decision Support, HR Tech, employee benefits

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When you choose a health plan, you’re making a complex decision for yourself and for your family - and as we all know, the benefits world is not easy to navigate. Most times you end up buying more insurance than you need in order to avoid risk and gain peace of mind. As a result, you could be paying up to $2000 more per year than you would in a plan that is better fit for your particular needs. 

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How To Prepare for This Year's Virtual Open Enrollment: 4 Smart Steps to Success

Jun 10, 2020 10:00:00 AM / by Picwell posted in Open Enrollment, Benefits Decision Support, Health Insurance, HR Tech

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While evaluating and choosing healthcare and supplemental benefits may not be confusing or difficult to those of us who work in the field, it’s important to remember that the average employee doesn’t fully understand what they’re looking at when it comes to benefits. In fact, in a survey conducted by UnitedHealth, they found that only 9% (yes, you read that right) of individuals understand all four of these basic healthcare terms: 

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For Brokers: How to Differentiate with the Right Decision Support Solution

May 27, 2020 2:36:03 PM / by Picwell posted in Open Enrollment, Benefits Decision Support, Health Insurance, Consumer Directed Health, HR Tech, benefits advisors

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As a health insurance broker, your job is to help your clients make wise benefits decisions, and they count on you to provide the insights and best practices needed to implement successful employee benefits programs at scale.

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The Secret to Better Employee Engagement + 6 Tips You Can Implement Today

May 12, 2020 4:57:59 PM / by Picwell posted in Open Enrollment, Benefits Decision Support, Health Insurance

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The world has gone remote. We are all making adjustments to keep our heads above water, but your charge as a benefits professional hasn’t changed. Open enrollment is coming and you still need to communicate benefits to your workforce to ensure employees understand and value their benefits.

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Study: Picwell’s AI-Powered Decision Empowers Health Insurance Agents

Apr 30, 2020 1:40:14 PM / by Sam Kina posted in Open Enrollment, Benefits Decision Support, Health Insurance, Consumer Directed Health, HR Tech

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Millions of people must choose a health insurance plan each year.  From seniors enrolling in Medicare to the large share of the U.S. population who choose an employer provided offering or selecting among plans on a state exchange, the one constant across all of these settings is that picking the right health insurance plan is extremely difficult. 

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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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