The Nationwide insurance company estimates that 65 percent of Americans own at least one pet. Of those pet owners, the American Pet Products Association estimates 24 percent are millennials. Many millennials, the generation born between 1981 and 2000, are waiting to get married and have children later in life. American Pet Products Association says that…
Health insurance is the most valuable benefit to employees, with vision and dental benefits close behind. The Employee Benefit Research Institute (EBRI) conducted a study in 2016. The study found that 87 percent of surveyed employees said that employer-based health insurance is either extremely or very important. Many were concerned about the future of Obamacare.…
The American Benefits Council is sponsoring a Thought Leadership Competition to solicit new ideas for improving the employee benefits system. If you are an emerging benefits professional, take advantage of this opportunity to showcase your creative, forward-looking ideas on employee benefits design, communications, public policy, etc. The Council is sponsoring this initiative as part of…
New York State recently finalized regulations for New York Paid Family Leave (NYPFL), which begins on January 1, 2018. Join USI Northeast for a webinar with Vice President/ERISA Counsel Erika Medina as she shares practical solutions for employers to consider as we approach the Countdown to NYPFL 2018. Thursday, August 10, 2017 10:00 a.m. to…
Every day, 60 people die from opioid pain medications in America. That’s 22,000 people every year. Opioids are being overprescribed and they’re now the #1 cause of unintentional death in the United States. Not surprisingly, this “hidden epidemic” is impacting businesses. The National Safety Council has recommendations on what employers need to do. It may…
On July 19, 2017, the Notice of Adoption for Paid Family Leave was published in the New York State Register, finalizing the New York Paid Family Leave (“NYPFL”) regulation. Click the image below to view the full summary of the public comments received and effect on the final regulation. For additional information: https://docs.dos.ny.gov/info/register/2017/july19/Rule%20Makings.pdf (beginning on page…
As more employers moved workers from pension to 401(k) plans between 1992 and 2010, total retirement wealth stayed flat. Not surprisingly, the highest retirement savings are concentrated among those with greater education, according to a study by the Center for Retirement Research at Boston College. The study found the mean retirement wealth for households ages…
At a time when employers are trying to solve talent gaps while juggling tight budgets, the popularity of voluntary benefits continues to gain traction—with voluntary benefits’ sales increasing for the fifth straight year, according to LIMRA. Voluntary life insurance sales grew 8 percent and supplemental health insurance sales grew 4 percent in 2015, according to…
At a time when the annual price tag for health insurance is topping $10,000 per employee, cognitive health systems, telemedicine or telehealth and other medical advances are helping to lower costs. The aim of cognitive health systems is to control costs with the use of health care data and analytics. Cognitive health systems help doctors…
Reminder: The Patient-Centered Outcomes Research (PCOR) filing deadline is July 31, 2017 for all self-funded medical plans and health reimbursement arrangements (HRAs) for plan years ending in 2016. View USI’s outline of plan years and associated amounts.
Math is confusing enough. Add in the math of a health plan renewal, and the need for clarification becomes apparent. Join USI Vice President Joseph Snable for a webinar on Friday, July 21, 2017 from 1:00 p.m. to 2:30 p.m. You will learn the math and formulas that health plans use to produce your renewal and…
As the health care market shifts toward individual responsibility, a survey found many workers are overwhelmed by the complexity of their health care options and many have a poor understanding of the benefits of health savings accounts (HSAs). We recently reported an uptick in HSA participation and investment (among millennials) according to the second annual “State…
