Welcome to The Source, your one-stop-shop for the latest and greatest HR and benefits news. Our weekly publication highlights this week’s top stories in human resources, benefits administration, insurance, legislation and more to make sure you can stay on top of industry trends and changes. Start off your week on a high note with The Source!In this week's edition, we discuss potential causes for the rise in health care costs, the stresses of an unlimited vacation policy, how to build a multigenerational benefits strategy and more! Click To Tweet
What’s the Culprit for Rising Health Care Costs?
The common answer to this question is prescription drug price increases, but a team of actuaries at the Centers for Medicare and Medicaid Services (CMS) says that the drivers of high costs this year will be durable medical equipment, home health care, doctors and hospitals. They also predict that U.S. health care spending will increase 4.8% this year to hit a whopping $3.8 trillion. Check out BenefitsPro for more analysis about potential causes for ever-rising health care expenses.
Google Search History Predicting ER Visits?
How many times have you felt under the weather, gone onto WebMD to research your symptoms, and come to some horrible, fatal conclusion based on your results? What if a doctor could see your search terms and actually tell you the real answer to what’s going on?
In a recent study performed by researchers at Penn Medicine, they tracked 150 people’s Internet history and found that health-related searches doubled in the week before subjects went into the ER. Privacy concerns aside, the study was able to provide some insight into what patients look for before visiting the ER and could help direct them to the best source of care. Read more from BenefitsPro.
Building a Multigenerational Benefits Strategy
The key to engineering the perfect benefits strategy is understanding what your workforce needs from their benefits. With a workforce that’s increasingly diverse and stretches across up to five different generations, figuring out what everyone needs gets a little more difficult. But you don’t necessarily have to perform a major overhaul of your benefits offering in order to achieve the perfect balance between cost control and employee engagement; check out Employee Benefit News for some good strategies.
Advisers Should Step In to Help Employees Understand Benefits
Employee education is one of the most important factors for a benefits program’s success, and advisers play a key role in that education, said a panel of industry experts at last week’s Employee Benefit Adviser’s Workplace Benefits Renaissance.
Unlimited Vacation: More Stressful Than It Sounds
Unlimited vacation policies have gained publicity lately as yet another tactic to attract and retain talent while saving companies money in accrued vacation payouts. However, implementing these policies involves a lot of considerations – not just preventing abuse of the policy, but ensuring that employees know the expectations for taking PTO and actually use it. Depending on your line of work, it could create more problems than it solves. Get the scoop from HR Dive.
Pros and Cons of Employee Monitoring
As remote work becomes more and more popular, employers may consider using a technology solution to monitor employee activity online and ensure that work is actually getting done. While monitoring employees can help set a standard for what’s appropriate and track productivity leaders on your team, it can also be a hard pill to swallow for employees who may feel like they aren’t trusted. Explore all the pros and cons in this blog from Time Doctor.
This Week At PlanSource: Eclipse 2019 Keynote Speaker
We’re thrilled to announce that Aron Ralston, adventurer and subject of the Oscar-nominated film 127 Hours, will be joining us in Park City this July 16-18 as our Eclipse 2019 keynote speaker. Aron will share his true and harrowing story of being pinned in a deep and narrow slot of the Utah Canyonlands beneath an eight-hundred pound boulder.
With candor and humility, Ralston reflects on his remarkable triumph over insurmountable odds and shares the lessons he learned about the importance of examining one’s priorities and outlook on life.
Check out more speakers and details about on our website. Early Bird pricing ends March 31!
Thought Of The Week
More than 50% of employees said they have left jobs after hearing the siren calls of better benefits elsewhere – Randstad / HR Dive 2018
How is your benefits program balancing the ability to attract top talent while still controlling costs?