At Evolution Benefits Consulting, we are passionate about what we do. In this light, we enjoy sharing our industry-leading thoughts and analyses of all issues affecting successful employer benefit programs. Keep checking back for blog updates from the Evolution Benefits team, as this is sure to be an exciting year in health care.
Employees are generally risk adverse and almost always over-insure themselves. Employees may not make the best decision if more than one plan is being offered. Evolution believes that one high-deductible health plan, structured correctly, could meet the needs of most employees. HR may have a “fiduciary” responsibility to make sure employees are not offered plans in which they should not enroll.MORE »
Incentives are useful tools to get an employee to participate in an activity and can be successful in achieving high rates of participation in well-communicated wellness events. But they do not solve the age-old problem of engagement. How do we keep our employees engaged in their health status? How do we motivate them to make the necessary changes to decrease their health risks over time? Well, I believe I have a new answer to this question, and I am excited about it. And best of all, it's an incentive you don't need to pay for! It's also probably gained just as much popularity over the last 3 years as wellness itself: social networking. MORE »
In true American fashion, yet another aspect of our lives has caused us to hurry up... and wait. No, we're not talking about airport travel or doctor office appointments- think bigger. Like one of the largest reform bills to pass through Congress in our lifetime. Yes it has been one year today since the official sign-off on the Patient Protection and Affordable Care Act. Happy Anniversary? MORE »
With the New Year, comes the implementation of additional components of the Patient Protection and Affordable Care Act (PPACA). As of January 1, 2011 the Medical Loss Ratio (MLR) provision went into effect. The intent of this provision is to increase the portion premium dollars used to pay for health care services and quality improvement initiatives, rather than administration expense. MORE »
Loss aversion: The pain of losing something is twice as great as the joy of winning something.
To date, most of our clients who run a comprehensive health promotion program offer some type of incentive to encourage employee participation... a gift card, a premium contribution reduction, cold hard cash... But not one client has seen anything close to full participation in these programs that not only pay employees for participating, but will help to make them healthier and live longer! So while it may be unpopular to say it- I'm going to say it- It's time to take away the carrots and beat our employees with sticks. The health and productivity of the workforce, and the viability of a company who is paying the medical claims for this workforce, depends on it.MORE »