Check out our Updates for important news about Veritas and employee benefits in general.
A timely reminder about how confusing benefits can be to most employees and the need for employers to communicate extensively during open enrollment and throughout the year.
Although few companies currently offer it as a benefit, employer assistance with student loan repayment is generating growing interest, driven by the staggering amount of student loan debt and the number of employees affected. More vendors are developing programs to administer it, and Congress is considering a more favorable tax treatment of the benefit.
Veritas is seeing a dramatic rise in interest from employees in identity theft protection coverage following the Equifax data breach. Employers may want to add this coverage for the coming year, either as a voluntary benefit or with some portion paid by the employer. Many employees are paying more for this service than they otherwise would with an employer-sponsored plan.
The Kaiser Family Foundation has added the Graham-Cassidy-Heller-Johnson Amendment to its comparison of the proposals to replace the Affordable Care Act.
Interesting EBN article on mental wellness programs to address the estimated $225.8 billion employers lose each year due to stress, anxiety, depression and substance abuse.
Veritas team members gathered in September at a Feed My Starving Children facility to pack prepared meals for starving children around the world. Veritas donated the funds for the 12,312 meals packed. That is enough meals to feed 33 children for a year.
Current and prospective employees often overlook, and need to be reminded, that benefits are a third of the total compensation package.
It’s no surprise that 88% of millennials value student loan debt assistance as an employee benefit. To see what other benefits are high on their list, check out this EBN slideshow.
According to The American Society of Addiction Medicine, opioid abuse costs employers approximately $10 billion from absenteeism and presenteeism alone. Download this report from healthcare consultancy Castlight for an overview of the issue.
Most employers report that employee cost sharing and CDHPs have failed to significantly reduce costs* The reason: these tactics fail to address the REAL drivers of employee benefits costs: carrier profits, provider profits, and the “Big 7” costliest medical conditions. This complimentary 30-minute webinar will provide a discussion of how employers are using these strategies. It will help you decide if they can help your organization control benefits costs.
*Fourth Annual Guardian Workplace Benefits SurveySM
The Kaiser Foundation has updated its comparison of ACA alternatives to include the Bill passed by the US House on May 4. Keep in mind, however, that from a legislative perspective, there is quite a distance to go before anything is final and signed into law.
Join us for a complimentary 30-minute webinar to help you learn how forward-thinking employers are addressing medical cost increases with innovative strategies like medical captives, referenced based pricing, and high-risk case management.
From HIPAA to ACA, administering health benefits becomes more complex every year. Join Veritas for a 30-Minute Webinar Oct. 4 at 11 a.m. CT: “Ben Admin Best Practices: Save Time, Money, (and Your Sanity).” Learn the best practices that leading HR teams use to administer benefits more effectively and boost employee satisfaction and engagement.
Veritas would like to thank everyone who attended our seminar last week, “Take Control of Your Employee Health Insurance Plan.” Doug Truax, President and Co-Founder of Veritas, and Dr. Abbie Leibowitz, M.D., Co-President and Chief Medical Officer of Health Advocate, discussed a range of innovative options to assist employers in managing their health plan and in helping employees utilize the plan more effectively.