Benefits industry product roundup: Work Shield, UnitedHealthCare, Harvard Pilgrim Health Care, JP Morgan
News of new and improved products and tools from Principal, Onegevity Health, Fidelity, Castlight Health, BPAs, Bento, Beddr, and more.
Here’s the latest employee benefits and retirement industry product news. And here’s to the people behind the scenes working to make the products, the stories, the implementation, and the ideas work.
Aflac announced the launch of its new group worksite life insurance. Available in term and whole life options for consumers ages 18-70, Aflac’s new group life coverage benefits include advanced claim payment, first-responder benefits rider, new living benefits rider options. The newest group life coverage is available in certain states.
The American Academy of Actuaries and the Society of Actuaries (SOA) have updated the jointly developed Actuaries Longevity Illustrator. Language has been clarified to help users effectively use and understand its results, and back-end data and methodologies used to calculate results have been updated. The mortality tables used to generate the illustrator’s results have been updated from the U.S. Social Security’s 2010 to 2016 tables, and the mortality improvement scale has been updated from SOA MP-2015 to MP-2018. Changes have also been made to the factors used to adjust for smoking and health status.
ArmadaHealth announced the expansion of its specialist recommendation matching services to include primary care physicians. QualityCare Connect is now available for health plans, consumer-facing health care platforms, specialty insurance solutions and affinity/association groups. QualityCare Connect will now be the new brand within ArmadaHealth’s service offerings going forward.
Beddr’s solution to identify and treat the root causes of chronic sleep issues is now available to employers, enhanced with improved data and insights, an expert-led sleep coaching program and a nationwide network of sleep physicians. Its SleepTuner is a postage-stamp-sized sensor that is worn on the forehead and collects clinical-grade data on key metrics like blood oxygen levels, stoppages in breathing, and more, delivered via a mobile app. And a four-week expert-led sleep coaching program pairs each person with a trained sleep coach who provides personalized guidance to improve their sleep hygiene.
Bento launched its next-gen app with a new Price Check feature, which shows in-network prices for common dental procedures nationwide based on their zip code. Bento’s pay-as-you-go model enables individuals, families, and organizations of any size to pay for services directly without the need to contract with an insurance company.
BPAS announced it has teamed up with MOR Strategy Partners to deliver the Re$erveMOR benefits solution to public-sector employers and employees. Re$erveMOR is a proprietary combination tax strategy, created by MOR Strategy Partners and financially managed by BPAS, that addresses the need for employees to optimize their pay through the use of multiple tax-advantaged employee benefits. Under the Re$erveMOR model, collectively bargained employees can elect a percentage of pay increases to fund their health reserve. They can also convert certain time-off benefits, like sick time, to health funds on a tax-free basis.
Castlight Health announced the launch of Castlight Care Guides, a concierge service with a clinician led high-touch service to help users understand the best care for them when a digital app isn’t enough. Castlight has created a Charter Customer Program for Castlight Care Guides and will be developing the high-touch roadmap in partnership with these customers, including a Fortune 500 manufacturing company launching in November. The company plans to make the solution broadly available in mid-2020.
Fidelity Investments announced a digital end-user experience, a customizable cash flow withdrawal strategy, and a suite of dedicated retirement income funds. Fidelity Managed Retirement Funds are a set of mutual funds designed to be part of an employer’s 401(k) or 403(b) plan fund line-up for retirees. The Fidelity Managed Cash Flow withdrawal strategy is designed to complement the Fidelity Managed Retirement Funds. The Fidelity Managed Retirement Funds are available now, while the digital experience (which includes an online planning tool) will be available in early 2020.
Harvard Pilgrim Health Care announced the launch of Harvard Pilgrim Well-being Rewards, a program that offers rewards to small businesses and employees who purchase directly from the company for improving their overall personal health and that of their employees. Employers can choose to purchase this program which includes rewards in the form of gift cards to employees who participate in wellness activities. In turn, employers can receive rewards (up to 6% of their current year billed premium) when their employees successfully engage in the well-being program.
J.P. Morgan Asset Management announced enhancements to Target Date Compass, the target date fund analysis tool. The upgraded tool is powered by third-party Morningstar data. The new Target Date Compass offers a suite of new search filters resulting from extensive user testing with advisors. These include Fund type – Mutual funds vs CITs; Minimum track record – 3, 5 or 10 years; To vs. through funds; Morningstar analyst rating – gold, silver, bronze, and more.
Principal Financial Group has announced a new digital experience, Principal Life Online. The digital solution aims to streamline the term life insurance buying experience from application submission to policy delivery.
Onegevity Health announced it acquired the global licensing rights to Mount Sinai’s Lab100, a clinic and research lab that uses precision diagnostics to empower patients and help scientists advance our understanding of human health. It will be available to other medical systems soon. The lab is designed to support the transition in focus from sick-care to well-care to provide the patient with a more complete picture of their health.
UnitedHealthcare has introduced a new benefit for people with acute low back pain. With this new benefit design, plan participants enrolled in certain employer-sponsored health plans can pay $0 out-of-pocket (waived deductible or copay) if they select physical therapy or chiropractic care for the treatment of low back pain. The benefit covers, at no additional out-of-pocket cost, three physical therapy or chiropractic visits, along with additional visits normally covered under the plan, to a qualified care provider.
Work Shield announced that its solution has expanded to include all Title VII protections as outlined under the seventh amendment of the Civil Rights Act of 1964, Title VII. Work Shield’s solution combines a HIPAA-compliant reporting platform with Work Shield-certified legal professionals who investigate every reported harassment or discrimination incident and work in partnership with the employer to establish a clear path to resolution.
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