Insights

The pandemic has made flexible work arrangements a more common reality in a shorter timeframe than most of us ever dreamed possible. In fact, almost 70% of full-time workers in the US are working from home during COVID-19, and 80% expect to work from home at least 3x per week after COVID-19. But, as we struggle to catch up with the rapid pace of change, many employers are asking, 'How do I pay a distributed workforce? How should I approach my employee compensation strategy? Remote work provides

When addressing workers' compensation costs, every company looks to reduce both their claims and their premiums. According to the National Council on Compensation Insurance (NCCI), the average direct cost of one lost-time claim is $29,500.1 Workers' compensation insurance premium can be one of the top five overheads for a company, depending on their experience, nature of business and what states they operate in. Yet it seems that many companies are hard-pressed to reduce their loss ratios and i

The healthcare evolution has arrived. Find out if there are technologies that could help you manage your health and stay connected to your providers.

This blog is the third of a three-part series on self-funding. Congratulations! You've made the decision to transition to a self-funded health plan. There's no doubt you put a lot of thought and work into ensuring this was a good decision for your business. Good news: The work isn't over; it's only just beginning. Now that your health plan is self-funded, how should you adjust your approach to managing your health plan? You're in luck! That's exactly what this blog is about. While self-fun

This blog is the second of a three-part blog series on self-funding. In 2020, 67% of workers in the United States were enrolled in a self-funded health plan, compared to just 44% in 1999. It's clear that self-funding is a growing trend among employers. To understand why, I recommend first understanding the basics of self-funding and exploring factors that should be considered in the decision-making process. I'm going to assume that you've taken Self-Funding 101 for the purpose of this blog. And

Between 1996 and 2015, U.S. healthcare spend rose nearly a trillion dollars. Add to that the ever-changing regulatory landscape, and you have a lot to factor into your benefits strategy. Rising healthcare costs and changes through health care reform have forced many organizations to dedicate more time to evaluating how their group health plans are funded - by self-funding or fully insured. Many group health plans are fully insured, where your organization pays a monthly premium to the insurance

Imagine one year you receive a 10% increase for your health plan and then a 25% increase the following year. Insurance rate increases are all too familiar and may hit close to home for your organization. What if you could control your costs and alleviate the burdens of your health plan administration? Welcome to the Individual Coverage Health Reimbursement Arrangement (ICHRA). Introduced to the healthcare world on January 1, 2020, the ICHRA is a creative way to control the rising healthcare cos

The days of SALY - same as last year - are long gone. In a perfect world, the elements of a risk management strategy would come together to create a sustainable, strategic and administratively efficient risk financing program that protects the insurance income statement, optimizes its use of risk-based capital, minimizes the use of insurance and reduces collateral requirements. Yet the world, particularly when it comes to risk, is not perfect. Risks change, evolve, emerge, intensify and can app

First there was the #MeToo movement, which concentrated attention onto sexual harassment of women in the workplace. Then Black Lives Matter created a conversation around racial inequities, including those on the job. Now it’s COVID-19, and we are seeing issues of employee rights and employer responsibilities in providing a safe work environment, as well as layoffs or terminations at a time when the economy is on a downward trajectory coming into our awareness. No matter what the catalyst, uphea