A shift away from the status quo can be scary, but with pharmacy costs and health care spending nearing unsustainable levels and all-time highs and great scrutiny of the fiduciary obligations of plan sponsors, the stakes are too high to hope for better communication, collaboration, and results from traditional PBMs.
Employees are now largely left to their own devices to figure out the benefits enrollment process. This “passive enrollment” trend is mired in a mix of clunky technology, poor communication, less effective call center interactions, and, with on-cycle enrollments, lower visibility for voluntary benefits.
A group of 17 Republican state attorneys general are demanding answers from top asset managers, who they say are misleading investors and retirement plan fiduciaries by omitting “essential disclosures for funds that include Chinese investments,” according to the AG letter.
The Senate’s new bill would allow 403(b)s to include CITs as part of their investment menu options, and now the Investment Company Institute is getting behind the effort to boost retirement savings for nurses, educators, and other nonprofit workers.
Prioritizing programs that support physical activity and overall wellbeing can improve both the personal and professional lives of employees, empowering them to bring their best to work each day—ultimately benefiting the bottom line.