Best Practices

Making the move from being fully insured to a self-funded plan allows employers to leverage pharmacy benefit managers to help employees buy their medications at significantly reduced prices.

It is estimated that 12 billion days of work are lost each year due to poor mental health, costing the global economy $1 trillion annually.

As the industry changes, roles change — often faster than job descriptions can be updated. New hires who do not receive the training necessary to understand how their role fits into the bigger company picture can contribute to higher turnover rates.

Leaders can support by example, and ensure that lifestyle benefits are integrated in the accepted behaviors of their workplace culture.

Giving employers and their members the tools to see what's working is the key.

Automatic enrollment helped 81% of plan participants start saving sooner for retirement and, significantly, 94% of participants stay in the plan once they have been automatically enrolled, according to a Principal survey.

Open enrollment is a great opportunity to help employees understand the full potential of health savings accounts, but the communications should be quite different for those new to the workforce than for those nearing retirement.

By tailoring your communications and education during open enrollment, you can help employees choose the benefits that will best meet their needs throughout the coming year.