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.
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.
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:
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.
Let's face it. The last couple of years have not been easy. Between budget cuts, the need to learn new technology on the fly, and other unprecedented, pandemic-related challenges, your institution’s faculty and staff have been put through the wringer these past two years. And so have you. As an HR professional in higher education, you’ve been forced to wear more hats than usual, as you plan ‘return to campus’ strategies and work to keep your teams happy and healthy as uncertainty continues to loom.
Your workforce is becoming increasingly diverse, and in order to stay competitive, your benefits have to follow suit. That means your suite of perks must cater to the unique needs of women, people of color, LGBTQ+ team members, veterans, workers with disabilities, and every other group that you employ. According to the recent Willis Towers Watson Emerging Trends in Health Care Survey, more than 70% of polled employers plan to redesign their benefits using a diversity, equity, and inclusion (DEI) lens as their guide.
You did it! You made it through another challenging open enrollment season. But, that doesn’t mean your work is done. After a quick breather, it’s a good idea to jump right into strategic planning for next year because as you know, the earlier you start, the more effective and efficient your open enrollment will be. In this article, we’ll share the top four metrics you should consider to evaluate open enrollment success and help guide your strategy for the next year.
As a benefits professional, you want to help your employees make better benefits decisions and you already know a benefits decision support tool can help. But with an abundance of options available, how do you know which one will be the right fit? Evaluating and choosing the best solution for your organization can seem like a daunting task - but we’re here to help.
As a benefits professional, you already know that the employee benefits landscape is always changing. In the past, these changes were often due to various factors, including new legislation, or simply evolving attitudes in society. But, with the COVID-19 pandemic turning our world upside down, companies have been forced to overhaul their benefits packages more rapidly than ever before, and in a much more significant way.