How Employee Benefits Are Evolving in New Jersey During 2020 Changing employee needs require adaptable, flexible employee benefits that provide a sense of security, transparency, and simplicity. In this article by NJBIZ, our CEO Scott Peloquin explains why employers should prioritize this alignment to lure in great employees. Read the full article below to learn how employee needs are informing …
Paired with a qualified high deductible health plan (HDHP), an HSA is a powerful financial tool that gives employees more control of their health care decisions and offers significant tax savings.
While it’s not possible to treat each employee differently in terms of healthcare offerings from the company, the effort to obtain the information can be helpful.
During the COVID-19 economic crisis, revising your company’s benefits strategy may appear to be a complicated process. However, we here at benefEx have you covered! Evolving Your Benefits Strategy With an Evolving Financial Outlook Here are some of the steps we recommend you take with your benefits consultant to navigate the process. Identify the Company’s Objectives, Including Budget Setting objectives …
During the COVID-19 pandemic crisis, many US companies are furloughing or laying off employees. Continuation of health insurance benefits during layoff vs. furlough is a hot topic. In this article, we’ll also be discussing COBRA, which refers to the Consolidated Omnibus Budget Reconciliation Act law passed in 1985. This law allows workers to continue on the same health insurance plan …
More and more patients are embracing telehealth options, opting for remote care over in-person visits. In this blog, we’ll analyze what has contributed to this phenomenon.
Lower Health Care Costs May Not Be Out of Reach It is no surprise that health care costs have been growing at an astounding rate each year. Lack of transparency and skewed pricing is making it very difficult for employees and employers alike to save on necessary health-related costs. Fortunately, not all hope is lost. With the right strategies, employers …
Effectively Manage Healthcare Spending When making recommendations on a company’s insurance coverage, it is important that a benefit consultant targets these three components: employee engagement, vendor selection and utilization, and plan design. To manage healthcare spending, each of these areas need to be overseen effectively. Employee Engagement: Employees can be purposefully engaged with relevant yet manageable education during the enrollment …
Where the Market Power in Healthcare is Held Hospitals are powerful in ways that the average person would not recognize, because we don’t see the contracts signed between hospitals and insurance companies. Hospital systems hide terms of service in these contracts: they disallow patients from obtaining lower-cost services elsewhere. This is market power in healthcare. When prominent insurance providers …
Why Our Wages Are Going to Increased Healthcare Costs Life in the USA is arguably very good for Americans. Unemployment is at 3.6 percent through May 2019. This is improved by .3 percent since fall of 2018. While textbook logic indicates a strong economy should push wages upward as business opportunities increase and more labor is needed that’s not the …
