ASHHRA Health and Wellness Pulse
BENEFITS
By Garry Spence One of the only ways today’s healthcare workers have to save for retirement is through their employer-sponsored retirement plan, like a 403(b) or 401(k) account. Healthcare organizations can increase the overall effectiveness of these plans and drive better retirement outcomes for plan participants by understanding the unique savings behaviors of their workforce. Tailoring retirement plan offerings like retirement communication and plan design may increase the likelihood that employees will participate in their plan and save enough to take them to and through their retirement years.
Visit http://www.naylornetwork.com/ahh-health/pdf/Feb_Retirement_Readiness_Lincoln_Financial_Group.pdf to view the full article online.
By Stephenie Overman When young Beatles fans first heard "When I’m 64," the lyric, "Will you still need me, will you still feed me?" was only a cute rhyme. Now, replaying their memories of the Fab Four’s U.S. invasion 50 years ago, aging baby boomers may find the questions more relevant. SOURCE: BENEFITS PRO
Visit http://www.benefitspro.com/2014/02/12/backup-elder-care-proving-popular?t=employer-paid to view the full article online.
By Jared Bilski It’s becoming one of the more common cost-control measures employers have at their disposal regarding health care: dropping spouses from their plan if those spouses are offered coverage through their own employer. But new research suggests there are several unintended consequences of this move many firms aren’t aware of. SOURCE: HR BENEFITS ALERT
Visit http://www.hrbenefitsalert.com/domino-effect-dropping-spouses-health-costs/ to view the full article online.
The average 401(k) balance continued its growth trend to end the fourth quarter of 2013 at a new record high of $89,300, up 15.5 percent from one year earlier, and nearly double what is traditionally considered the market low of March 2009 when it was $46,2002. The Fidelity Investments analysis found pre-retirees age 55 and older had an average balance of $165,200. While 78 percent of the year-over-year increase was due to positive stock market momentum, a full 22 percent of the growth came from employee and employer contributions. SOURCE: WORLD AT WORK
Visit http://www.worldatwork.org/adimComment?id=74750&from=Total%20Rewards%20News%20All to view the full article online.
Health Savings Accounts grew to an estimated $19.3 billion in assets and 10.7 million accounts at year-end 2013 and exceeded $20 billion in assets during the month of January, according to the annual HSA survey from Devenir. SOURCE: WORLD AT WORK
Visit http://www.worldatwork.org/adimComment?id=74734&from=Benefits%20News to view the full article online.
Employers who offer their employees stand-alone vision benefits experienced $5.8 billion in cost savings over four years due to reduced health care costs, avoided productivity losses, and lower turnover rates. A study, conducted by HCMS Group, determined that individuals who receive an annual comprehensive eye exam are more likely to enter the health care system earlier for treatment of serious health conditions, thereby significantly reducing their long-term cost of care. Additionally, people are more likely to get an annual comprehensive eye exam than a routine physical. SOURCE: WORLD AT WORK
Visit http://www.worldatwork.org/adimComment?id=74721&from=Benefits%20News to view the full article online.
Although employers express concerns over the growing proportion of drug cost attributable to specialty medications, currently exceeding 30 percent and expected to increase to more than 50 percent in the next several years, only 16 percent devote more than 30 percent of pharmacy benefit management time to specialty drugs. SOURCE: WORLD AT WORK
Visit http://www.worldatwork.org/adimComment?id=74738&from=Benefits%20News%20All to view the full article online.
WELLNESS
By Rita Pyrillis When O’Neal Industries launched a comprehensive wellness initiative in 2011, measuring the program’s success was a critical goal. But O’Neal executives wanted to know more than just participation rates and claims data – the most obvious markers of a successful wellness effort. They wanted to understand the link between smoking and workplace injuries, and the connection between arthritis and absenteeism, among other measures. In other words, they wanted to know exactly how health care costs were affecting their bottom line. SOURCE: WORKFORCE.COM
Visit http://www.workforce.com/articles/20240-all-is-not-well to view the full article online.
By Rita Pyrillis In their quest to find what motivates employees to eat right, exercise, quit smoking, or take a greater interest in their health benefits, employers are experimenting with wellness apps, personal tracking gadgets, workforce health challenges, and other ways to encourage behavior change. But one organization figured it out decades ago in what could be the nation’s first successful social wellness program – Weight Watchers. SOURCE: WORKFORCE.COM
Visit http://www.workforce.com/articles/20245-on-the-weight-watch to view the full article online.
By Gary Cassidy It’s no secret that a multi-faceted, well-executed wellness program can be extremely advantageous to both employers and their workers. Wellness can specifically increase job satisfaction among current and prospective employees. However, employers can’t expect these results to occur overnight. While many launch wellness programs, they often fall short of expectations. Perhaps the biggest reason this happens is inadequate communications to employees. SOURCE: EMPLOYEE BENEFIT VIEWS
Visit http://ebn.benefitnews.com/blog/ebviews/the-critical-nature-of-communication-in-wellness-2739248-1.html to view the full article online.
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