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Accounting firms are increasingly embracing artificial intelligence (AI) and generative AI to improve efficiency and gain a competitive edge. Many firms are exploring the various applications of AI, such as internal virtual agents, client communication and automation, data analysis and anomaly detection, and tax and client services. While there is a growing acceptance of AI within the profession, some accountants still have concerns about work quality, data accuracy, fiscal costs, undetected bias, and ethical issues. It is important for firms to have proper AI guidelines and policies in place to address these concerns and ensure privacy, transparency, and fairness. [Extracted from the article]

Female employees report health benefits and less exposure to bias by working remotely. [ABSTRACT FROM AUTHOR]

Female employees report health benefits and less exposure to bias by working remotely. [ABSTRACT FROM AUTHOR]

Female employees report health benefits and less exposure to bias by working remotely. [ABSTRACT FROM AUTHOR]

Sword Health, a digital care platform, offers virtual physical therapy services for musculoskeletal (MSK) disorders. These conditions are a leading driver of healthcare costs for employers and can also impact employee attendance and productivity. An independent audit found that Sword Health's services resulted in cost savings of over $3,000 per member each year and a 301.2% return on investment for employers. Virtual care not only reduces unnecessary medical spending but also improves patient outcomes by addressing the root cause of the problem, leading to a reduction in associated chronic disorders like depression. [Extracted from the article]

Health plan sponsors must know the direct and indirect compensation paid to benefit brokers, consultants and medical and prescription drug claims administrators. [ABSTRACT FROM AUTHOR]

The article discusses the potential benefits of including weight loss drugs in employee benefit programs. It highlights the recent FDA approval of Tirzepatide, an active ingredient found in the diabetes drug Mounjaro and the newly approved weight loss drug Zepbound. The article suggests that a carefully designed benefit plan that combines weight loss prescription drugs with counseling and coaching for lifestyle changes could lead to cost savings and improved employee health. However, it emphasizes the importance of integrating these medications with counseling and support to ensure long-term success. The article also mentions that supporting employees with wellness and weight loss options can improve morale, satisfaction, and engagement in the workplace. [Extracted from the article]

Obsessive compulsive disorder (OCD) is a chronic mental health condition characterized by intrusive thoughts that cause distress or anxiety. Access to therapy and medication is crucial for individuals managing OCD symptoms. In the workplace, inclusive benefits that offer no caps on therapy sessions and access to OCD specialists can provide relief for employees. Open communication and reducing the stigma around mental health are also important for creating a supportive work environment. [Extracted from the article]

Employers are facing rising healthcare costs that are becoming increasingly difficult to manage. Healthcare costs in the US are expected to increase by 7% this year, surpassing the average annual increase of 4-5%. Employers are hesitant to pass on these costs to employees, but they are also struggling with medical debt, which has reached $220 billion. Chronic conditions are the main driver of healthcare costs, and employers need to invest in preventive care and resources to effectively manage these conditions. Employers are taking steps to lower healthcare costs, such as integrating well-being programs, offering telehealth access, and providing healthcare navigation tools. However, more extreme changes, such as exerting influence over insurance companies or shifting to a value-based model, are less popular. Employers are also offering standard health, dental, and vision plans, but identity-focused benefits, such as gender-affirming care and abortion care, are less common. Employees value benefits like gym reimbursements, wellness programs, and nutrition support. Despite recent federal regulations, employers and employees cannot rely solely on policymakers to fix the healthcare industry. Employers are concerned about their ability to afford healthcare coverage for their employees, but they can take steps to challenge their benefits partners and explore alternative solutions. [Extracted from the article]

Boosting utilization rates is a huge challenge for employers. These strategies from successful companies and top providers can help. [ABSTRACT FROM AUTHOR]

Starting with baby boomers, Americans have largely switched from defined-benefit plans, like pensions and annuities, to defined-contribution plans, like employer-sponsored 401(k)s and individual retirement accounts. Tax and Retirement Americans are now retiring three or four years later in life than they did three decades ago, puzzling researchers and reversing a trend that had lasted more than a century. [Extracted from the article]

GLO:BOEB/01Apr21:20n1.jpg PHOTO (COLOR): . gl The dense, single-spaced, 20-odd-page company report that is sent to IntraFi employees each month may not be as satisfying as the office breakfast spreads or as soothing as the weekly yoga sessions. During the pandemic, the company also provided mental health benefits for their employees, allowing four free therapy sessions apiece through Samata Health, a digital platform that connects employees with therapists. At Vestwell, the well-being committee -- which is in charge of social events and wellness initiatives, as well as suggesting changes to employment policies -- is intentionally made up of employees across all levels of the company, including lower-level employees. [Extracted from the article]

The article offers suggestions regarding management of enrolment services of employees for benefit services. Topics discussed include utilization of mobile apps related to description of benefits for enhancement of employee engagement conditions; adoption of system integration conditions for human resource information system (HRIS) databases; and provision of services regarding changes in benefit communications for health benefits along with 401 (k) plans.

Introducing ConfigureNet™, a better provider network for your employer-sponsored health plan. [ABSTRACT FROM AUTHOR]

First, employers must embrace the view that SUD is not a personal failing but a chronic health condition and then work to normalize the discussion about SUD. Since many employees with SUD also have additional mental or physical health conditions, our integrated team takes a comprehensive and individualized approach to employees' overall health. [Extracted from the article]

Economists have argued over the years that it's really workers that bear the brunt of the cost of employer-provided health insurance, but if you talk to the employers, they say, "We're really paying most of this cost." For years, employers have been convinced that Medicare and Medicaid have been shifting costs to employers. [Extracted from the article]

The ROI is clear - a healthy workforce means higher job satisfaction and greater productivity. [ABSTRACT FROM AUTHOR]

Benefit managers may need to review cost accumulator programs for specialty medications under recent regulations. [ABSTRACT FROM AUTHOR]

Employers should work to identity and help at-risk employees as early as possible. [ABSTRACT FROM AUTHOR]

The article discusses the change in trend in the price of health care plans and mentions that higher costs do not always mean better value for money. It mentions the importance of self-service decision support tools and medical decision support/second opinion services alongside price transparency tools. It highlights some systems that are capable of generating personalized reminders for medical needs.

McNeil, a principal at Arrow Benefits Group, met consultant Avila when she joined the firm in 2016. For Andrew McNeil and Rosario Avila, recognizing the unique needs of every human being has made their work as advisers more fulfilling - and successful. [Extracted from the article]

March 31, 2021 The dense, single-spaced, 20-odd-page company report that is sent to IntraFi employees each month may not be as satisfying as the office breakfast spreads or as soothing as the weekly yoga sessions. At Vestwell, the well-being committee - which is in charge of social events and wellness initiatives, as well as suggesting changes to employment policies - is intentionally made up of employees across all levels of the company, including lower-level employees. During the pandemic, the company also provided mental health benefits for their employees, allowing four free therapy sessions apiece through Samata Health, a digital platform that connects employees with therapists. [Extracted from the article]

Information on a roundtable discussion on the online decision tools and messages that can engage employee enrollment in benefits is presented. Topics include the trends in benefit enrollment, the importance of budgeting benefit spending and the use of health risk assessments and screenings to understand the health status of employees. The participants include Anita Potter of Life Insurance and Market Research Association (LIMRA), Lindsey Norton of BI Worldwide and Jon Shanahan of Businessolver.

Employers will need to acknowledge they are a plan fiduciary, establish a committee to manage the process and document all administrative decisions. [ABSTRACT FROM AUTHOR]

When it comes to employer-sponsored benefits, a Health Savings Account (HSA) offers the most utility for employer clients. When introducing HSA-capable coverage, employer clients should consider conducting a full-positive annual enrollment, as well as deploying choice architecture so that when individuals elect medical coverage, the HSA-capable option and a positive contribution are set as the defaults. [Extracted from the article]

Dan Miller, founder and CEO of Spora Health, explains how employers can provide culturally sensitive and inclusive healthcare benefits. [ABSTRACT FROM AUTHOR]

The article focuses on an association of different professionals as voluntary employee benefit provider. Topics discussed include analysis of diferent ancillary carrier firms for administration of employee benefits services such as EyeMed Vision Care for healthcare; consideration of streamlining approaches of Transamerica with different issues such as flexible insurance policies; and enhancement of disability income insurance services by Liberty Mutual.

The article features the success of J. Seltzer Associates, a benefits broker catering to small businesses. It recalls how father and son John and Jason Seltzer founded the company in 2011, its 400% growth after 24 months of operation and its consulting approach. It also looks into the move by the company to concentrate on health benefits and partnerships with companies specializing in retirement and property and casualty, the importance of cultivating relationships and the need to plan.

The article discusses voluntary health benefits with specific reference to the introduction of public health insurance exchanges (HIXs) in the U.S. It reports on how HIX will change the employer-sponsored insurance coverage landscape. It also discusses the impact of the U.S. Affordable Care Act (ACA) on voluntary benefits in 2013.

Recommending employer-sponsored emergency funds can help reduce financial anxiety when facing unexpected life events that disproportionately affect females. [ABSTRACT FROM AUTHOR]

Another benefit that can help female employees thrive financially is an employer-sponsored emergency fund. Employer-sponsored emergency funds can help employees reduce financial anxiety when facing unexpected life events like unemployment, critical illness or unexpected caregiving needs - all of which disproportionately impact women. [Extracted from the article]

Just 46% percent of Black employees, 41% of Latinx employees and 36% of American Indian/Alaska Native employees are covered by employer-sponsored health insurance, according to a 2018 analysis of the Census Bureau's American Community Survey. From providing mental health support or increasing paid sick leave to encourage employees to actually seek care when they need it, a supportive environment will empower employees to flag and discuss any disparities they may be experiencing. An employee can input whatever healthcare query they have and receive responses tailored to their situation, including an entirely Spanish-language option for non-native English speaking employees. [Extracted from the article]

The article discusses the role that health insurance brokers will play in public health exchanges that have to be set up according to the provisions of the U.S. Patient Protection and Affordable Care Act (PPACA). Health insurance brokers and advisors are working with state and federal regulators to ensure they remain relevant. The implications of PPACA-based health insurance exchanges on brokers' business operations are highlighted. Brokers' compensation and related issues are also discussed.

An interview with Nelson Griswold, Michael Martocci, and Steve Polott on voluntary employee benefit is presented. When asked on changes in employer-sposored benefits that impact voluntary benefit, Griswold refers to the definition of voluntary and employees' perception of individual products. Martocci says that health care reform raised awareness with employers, brokers and employees. Polott adds that they use an avatar and have live one-on-one counselors to communicate voluntary benefits.

The article discusses vision care plan as a low-cost way to add benefit that employees and dependents use and value. With medical premiums rising at least 10-15% at renewal, it is seen to work well for clients hit with a rate increase. It cites the benefits of routine eye exams such as earlier detection of cholesterol, hypertension and other conditions which could lead to earlier intervention that helps keep medical costs down. Patsy Akridge of Akridge Insurance & Financial Services sees a trend toward greater acceptance of vision care among employers.

The article focuses on the effort of employers towards cutting prescription benefit costs while improving quality of coverage in the U.S. It is said that employers are taking the means to bring more restrictions and transparency to pharmacy benefit management relationships. It cites that prescription benefit managers are inclined to do aggressive management since they are having success with the novel benefit strategies and evidenced-based value design.

The article focuses on the growing number of employers shifting to voluntary dental plans in the U.S. According to a research made by LIMRA International Inc., the third most called for benefit after medical insurance and retirement benefits is dental. It explores a variety of options for voluntary dental insurance and looks into dental plans commonly offered by employers, how it pays out its benefits and the importance of these benefits to employer benefits packages.

The article reports on the rules established by the U.S. Department of Labor (DOL) on pension fee disclosure designed to aid plan sponsors to determine if the compensation they pay towards the plan's service providers are fair. It claims on the need for service providers to disclose information in helping plan fiduciaries in evaluating the rationality of contracts or arrangements. It is expected that the regulation levels the playing field for third party administrators effective July 16, 2011.

The article focuses on inclusion of wellness programs in health plans of employees. Stephanie Pronk of Hewitt Associates states that employees don't think about wellness programs in such plans. It mentions that health plans should be broken into two parts, one focused on wellness and other on illness. It highlights that historically the two things are not integrated into health benefits in the U.S.

The article focuses on how health care reform will increase the demand for dental benefits in the U.S., particularly among Medicaid recipients creating an access to care problem. It mentions that the American Dental Association (ADA) is opposing the health care reform in the country, as it will rapidly expand the number of covered lives. It further explores the challenges the health care reform will pose for employers, in context to the dental benefits they will offer to employees.

The author discusses several factors that led to the decision of most employers in the U.S. to keep their health plans after 2013. Most analysts are predicting that most employers will elect to terminate their health plans and pay the annual penalty in 2014. He believes that the wage adjustment would have to cover the increased income taxes and employees would have to pay as a result of receiving taxable wages to purchase coverage. He notes that many studies suggested that employers must focus their health promotion efforts to reduce costs.

The article focuses on the need to integrate absence management with wellness, disease management and work-life programs to lower health care costs. According to experts, automating absence management programs is a necessity in order to lower overtime and other indirect costs and make employees healthier. It notes the decision of Delphi, a global supplier of electronics and technologies for automotive, commercial vehicle and other market segments, to work within a legacy-based system to manage absenteeism. INSET: SICK AGAIN?.

The article discusses the results of a survey conducted by the periodical and JHA on insurance benefit changes that U.S. human resource (HR), benefits managers and employers plan to adopt in 2010. About 27% of employers who say they will make no changes in medical insurance plans note that they would change the type of plans. Most of the employers claim they will continue offering dental plans that permit employees to use in- and out-network dentists. Nearly 90% of the managers report they offer 100% employer-paid life insurance.

The article discusses a study performed by Human Capital Management Services on the importance of routine eye care facilitated by employee exploitation of vision care benefits. Both clinical issues and their financial implications for employers are covered by the data. Data also confirmed the potential of eye exams to flag basic health problems, such as hypertension and high cholesterol, with their potentially deadly consequences.

The article discusses the experiences of two companies, Louisville Gas & Electric and Clarian Health, in offering long term insurance (LTC) for their employees. Before offering LTC, both companies studied its type and structure and decided on individual offerings with limited medical underwriting instead of traditional guaranteed issue group program. The companies chose LTC due to the 20 to 40 percent savings they attained compared to guaranteed issue programs.

The article focuses on employee eye health and vision insurance coverage. Pat Hout, director of managed vision care at Transitions Optical, and other vision care professionals stress that there is a connection between workers' eye health and overall health. According to the author, benefits advisers and brokers need to be educated on this issue and are encouraged to include vision care in their plans.

The article reports that developments in dental plans and benefits have created sales opportunities for brokers. There has been an increase in the demand for dental coverage which prompted providers to launch a new generation of plan designs that are progressive. Among the plan features being sought by employers are coverage of sealants, benefit rollover and adult orthodontia benefits.

The article focuses on the mix of old and new approaches in consumer-centric dental benefit models. Employers and employees are reportedly looking for more value at less cost and the prevention of diseases. It is stated that dental plans are covering oral cancer screenings, teeth whitening and periodontal maintenance and have introduced a product that rewards people who take care of their teeth. The providing of pre-funded debit cards to employees for dental care payment is also given.

The article explores the disagreement between major health insurers in the U.S. and brokers and employers over high deductible health plans. It explains why some insurers are opposing the move of some employers of combining high-deductible plans with self-insured coverage. It discusses the effects of this move on brokers, insurance carriers, employers and employees. It argues that the move of employers would affect the broader marketplace.