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Employee Burnout and Employer Benefits

Mental health issues skyrocketed during the pandemic. Meanwhile, about 10% of the American workforce, or 16 million people, have more than one job. With those facts in mind, it’s unsurprising that employee burnout is a continuing problem. The good news is that employer-sponsored benefits can help mitigate burnout. What is burnout? As defined by the World Health Organization, “Burnout is a syndrome … resulting from chronic workplace stress that has not been successfully managed.” Sufferers of burnout

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Healthcare Consumerism Continues to Rise

Healthcare consumerism is a movement to make healthcare services more efficient and cost-effective. It transforms an employer’s health benefit plan, putting the economic purchasing power and decision-making in participants’ hands. Consumerism aims to enable patients to become wholly involved in their healthcare decisions. What drives healthcare consumerism? Customers can access features, benefits, and cost comparisons in most industries to guide their purchasing decisions. In contrast, the healthcare industry presents many choices, contact points, and service

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FSA FAQs

The 2022 Kaiser Family Foundation Employer Health Benefits Survey reported that PPOs (Preferred Provider Organization) remain the most common health plan type, with 49% of covered workers enrolled in them in 2022, as opposed to 29% in a high-deductible plan (HDHP). Employees in the PPO pool may reduce their healthcare expenses with the tax-advantaged option of Flexible Spending Accounts (FSAs). But this option remains largely misunderstood so here are some Frequently Asked Questions (FAQs) about FSAs.

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Five Keys to a Successful 2023

The last few years have been challenging, full of lessons to learn and new perspectives to gain. As third-party administrators (TPAs) and brokers use these to meet this year’s goals, what are the five keys to a successful 2023? Provide Year-Round Communication Although a benefits program may be in good shape when open enrollment concludes, what about a month or quarter later? Have any participants had a mid-year status change necessitating an adjustment to their consumer-directed healthcare accounts?

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COVID-19 Public Health Emergency Extended Again

On January 11, 2023, the COVID-19 National Public Health Emergency (PHE) was extended for 90 days. The PHE was scheduled to expire on April 11, 2023. Update: On January 31, 2023, the Biden Administration announced their intent to end the Public Health Emergency on May 11. Effects of the PHE Extension With the extension, the temporary rule changes regarding COBRA, HIPAA, and group health plans (including FSAs and HSAs) continue. (Click here for more detailed

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DataPath Selected in 2022 Digital Health Awards

Employee education and engagement program captures another national honor DataPath, Inc., a leading developer of technology solutions for third-party benefits administrators, has been named a Gold Award winner in the Fall 2022 Digital Health Awards® competition. They were honored for a new comic about Dependent Care benefits produced for their innovative program, The Adventures of Captain Contributor.™ Launched in 2017, Captain Contributor provides healthcare consumers with easy-to-understand information about healthcare benefit accounts in a fun and engaging

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Millennials, HDHPs and HSAs

Popular with Millennials, HDHPs paired with HSAs can help employers improve employee satisfaction with healthcare benefits. Millennials are Embracing HDHPs Millennials are active supporters of consumer-directed healthcare. Now in their late 20s through early 40s, they tend to be healthier than their older workforce peers (Gen X and Baby Boomer generations) and, on average, spend less on healthcare costs. Nearly half of Millennials who are eligible for an HSA through their employer are adopting one.

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Findings from the PSCA 2022 HSA Survey

HSA availability and usage continue to grow, according to the Plan Sponsor Council of America (PSCA). For their 2022 HSA Survey, the PSCA surveyed nearly 500 employers who offered HSA-qualifying health plans in 2021. Their findings are summarized and highlighted below. Data Highlights from the PSCA 2022 HSA Survey HSA Contributions and Balances Average participant contributions and balances have declined. PSCA found that of the 75% of employers who contribute, 60.2% set different amounts based

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Omnibus Legislation includes CAA 2023 and SECURE 2.0

On December 29, 2022, President Biden signed the $1.7 trillion omnibus spending bill into law. The legislation, which included the Consolidated Appropriations Act of 2023 (CAA 2023) and the SECURE Act 2.0, features several provisions affecting employee benefits. A summary of some highlights follow. HSAs and Telehealth Telehealth use soared during the pandemic. SHRM reports that 43 percent of organizations expanded telehealth services during the period. The 2020 CARES Act allowed HSA-qualified high-deductible health plans

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New Year, New Benefits

Welcome to 2023! The new year brings a renewed focus on losing weight, staying healthy, and becoming financially healthier. Across the country, millions of us have set goals of increasing our health and wealth. However, inflation, supply chain issues, continued mental health challenges, and more can make tackling these goals even harder than usual. Financial Health Resolutions Many Americans are examining their spending and saving habits. Fidelity Investment found that when asked about financial concerns,

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