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Guardian Life Insurance released their 5th annual workplace benefits study and there's a lot you can learn from it. The primary focus of the study is how new technology is allowing human resources departments to simplify benefits management both for themselves and their employees.
Drug prices have been rising for a while now — studies show that they've been increasing at a rate faster than inflation since at least 2008. This is causing a number of issues for patients who can't afford their medication as well as who are attempting to provide comprehensive health coverage on a budget. Over half of Americans polled think that drug prices should be a top concern for the administration, and the administration seems to agree.
Crafting an employee benefits package is a multifaceted problem. The key word there is craft. It takes more than a dry list of benefits — however enticing they may seem — to see a positive return on your investment. For example, communicating benefits to employees isn't something that's separate from your benefits package, it's an integral part of it. That should include how to sign up for them, what they do, how they relate to their situation, and how to use them.
It's becoming more and more clear that we need to lower the cost of healthcare across the board. What's being done now often amounts to shifting around costs. Either the patient pays more out of pocket, the health insurance provider takes on more liability, or the employer bears an ever-increasing burden. Many employers view this as a problem that is ultimately outside of their control, but this is the wrong way to look at things. You can and should be proactive, but first, you need a clearer picture of what's going on.
If you're looking for a benefit that appeals to millennials it's hard to do better than student debt relief. The current total for student loan debt in America is a staggering 1.6 trillion dollars — you can watch it tick up and up yourself if you're so inclined. That's more than credit card debt and auto loan debt combined. And who is carrying most of this debt? Millennials, of course. For many younger employees, this debt is keeping them from purchasing homes, getting married, and starting families.
Health Reimbursement Arrangements (HRAs) are a great way for businesses to save on their healthcare costs. They allow you to contribute money — tax-free of course — into a savings account that your employee can later use for certain health-related expenses. The popularity of HRAs has been ballooning in recent years, and the Trump administration seeks to encourage this with new regulations expanding the usage of HRA.
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We believe in revealing the real problem, challenging the status quo, and providing definable solutions.
Summerlin-Roberts uses a professional diagnostic process to help you categorize your needs & prioritize objectives.
We'll identify solutions that will specifically fit your needs. Any recommendations made will support your end objectives.
Once we have executive buy-in, we oversee the implementation of any new technology, solutions, or benefits from start to finish.
Summerlin-Roberts monitors market trends, technology and more. Our team works hard at maintaining a best in class approach.