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 explore HR best practices, tips for helping first-timers with open enrollment, the human side of HR tech and more! Click To Tweet
U.S. Health System Waste Hits $935 Billion a Year
Waste in the U.S. healthcare system is on the rise, and now accounts for 25% of total medical spending, according to a new analysis published in JAMA. Researchers looked at six wasteful domains, including failure of care delivery, failure of care coordination, over-treatment or low-value care, pricing failure, fraud and abuse, and administrative complexity, with the last one being the greatest source of waste. Read more about the study and the researchers’ proposed solutions on Forbes.
The Human Side of Tech: Investing in Tools That Better the Employee
Employers have invested millions in technology, but is it actually improving productivity? Some say employers should instead focus on bringing in technology solutions that will make employees’ lives easier rather than harder.
A Comprehensive Guide to HR Best Practices You Need to Know This Year
HR best practices have been under close examination for many years and continue to be a hot debate topic in business circles. “Best practices” is the idea that there are universal HR principles that provide companies with optimal business performance, regardless of which organization or industry they are applied to.
To help HR departments focus their efforts on HR best practices, BambooHR compiled a list of some of the best human resource practices. Try these out in your own organization and see how they can help you increase engagement, improve retention, and more.
4 Tips for Walking First-Timers Through Open Enrollment
Though it may not have the same cultural connotations as other birthdays, turning 26 is a big deal in the employee benefits space. While plenty of workers have gone through the enrollment process before that age, it’s the cutoff at which many are forced off a parent’s plan. And HR has a role to play, guiding first-timers through the process. See four tips for walking first-timers through open enrollment on HR Dive.
More Than Half of American Families Could Feel the Impact if the ACA is Overturned
More than one in four Americans – 54 million people – could lose health insurance due to pre-existing conditions without the protections of the Affordable Care Act (ACA), according to a new study from the Kaiser Family Foundation. This new analysis was conducted as the Fifth Circuit Court of Appeals weighs a decision in the Texas v. Azar case, which seeks to overturn the ACA in its entirety. Another finding of the study is that southern states will likely be hit harder by the loss of these protections for pre-existing conditions. Read the full report summary on BenefitsPro.
How to Make Your Wellbeing Programs More Meaningful
With the unemployment rate lower than it’s been in decades, the plan design a company chooses to offer can provide a real advantage in today’s competitive job market. Staying ahead of cutting-edge benefits—both in terms of innovative solutions and cost—allows companies to have a real impact on the health and wellbeing of their employees.
This Week at PlanSource: Discover Cancer Guardian
PlanSource, a leading provider of benefits technology, is pleased to announce that it’s partnering with Wamberg Genomic Advisors to offer their groundbreaking employee benefit, Cancer Guardian, to customers using the PlanSource benefits administration system.
Wamberg Genomic Advisors (WGA) provides clinical-grade genomic-based employee benefits offerings via trusted employee benefits partners. Cancer Guardian, their flagship benefit offering, provides affordable access to advanced services and technology that are not typically provided by or reimbursed by health insurance.
Learn more about the partnership in our official press release!
Thought Of The Week
59% of employees say that health and wellness benefits are important for increasing loyalty to their employer. – MetLife 2018
What are you doing to put wellness programs front and center in 2020?