Defined contribution health benefits

U.S. employers target healthcare costs and mental healthcare as they look toward 2024

Retrieved on: 
Friday, October 20, 2023
Defined contribution health benefits, Health, Culture, Mental health, Workforce, WTW, Communication, Health care, Nursing, Health insurance

The 2023 Best Practices in Healthcare Survey found more than two-thirds of U.S. employers (69%) are focused on managing healthcare plan costs.

Key Points: 
  • The 2023 Best Practices in Healthcare Survey found more than two-thirds of U.S. employers (69%) are focused on managing healthcare plan costs.
  • This follows a projected cost increase next year of 6.4%, compared with the average 6.0% increase employers are experiencing this year.
  • Almost as many employers (63%) are focused on enhancing mental health and emotional wellbeing programs.
  • Other actions include evaluating mental health networks from a diversity lens to ensure diverse representation and providing mental health days off.

Competition for talent top influence on benefit strategy for most U.S. employers, WTW survey finds

Retrieved on: 
Thursday, July 13, 2023
Insight, WTW, Workforce, Health, Commercialization, Defined contribution health benefits, Face, Risk, Management, Health insurance

While competition for talent has been a priority for the past few years, the survey found it to be top of mind in 2023.

Key Points: 
  • While competition for talent has been a priority for the past few years, the survey found it to be top of mind in 2023.
  • Almost two-thirds (65%) of employers feel that their current benefit plan is effective or highly effective in attracting and retaining key talent, and half (49%) are focused on their benefit plans meeting needs across all employees.
  • As they look to meet these needs, employers plan to improve their benefits position in financial wellbeing (43%) and mental health support (37%).
  • “Employers must focus on what their workforce needs by assessing the value of benefits and their impact on employees.

Jenifer McMahon Joins Alliant Insurance Services’ Seattle Benefits Team

Retrieved on: 
Wednesday, June 28, 2023
Insurance, Human Resources, Finance, Health, Consulting, Small Business, Professional Services, Health Insurance, McMahon, Pacific Northwest, University, Alliant, Culture, Registered Health Information Administrator, Consultant, Associated Students of the University of Washington, Defined contribution health benefits, Growth, Environment, RHU, Management

Jenifer McMahon has joined Alliant Insurance Services as Vice President within its Employee Benefits Group .

Key Points: 
  • Jenifer McMahon has joined Alliant Insurance Services as Vice President within its Employee Benefits Group .
  • In this role, the Seattle-based consultant will provide a full range of strategic benefits solutions to a diverse client base throughout the Pacific Northwest.
  • An experienced health and benefits consultant and relationship manager with decades in the industry, McMahon takes pride in aligning her clients’ organizational objectives and culture with their employee and executive benefits.
  • “Jenifer’s depth of expertise with a wide array of benefits solutions and as a relationship manager will allow her to deliver programs that help her clients thrive in today’s complex benefits environment,” said Kevin Overbey, President, Alliant Employee Benefits.

U.S. employers double down on controlling healthcare costs, enhancing affordability

Retrieved on: 
Thursday, September 15, 2022
Income, Organization, Workforce, GLOBE, Insight, Shoulder, WTW, Movement, Solution, Risk, Budget, Defined contribution health benefits, Fraud, NASDAQ, Health insurance, Risk management

The survey found U.S. employers project their healthcare costs will jump 6.0% next year compared with an average 5.0% increase they are experiencing this year.

Key Points: 
  • The survey found U.S. employers project their healthcare costs will jump 6.0% next year compared with an average 5.0% increase they are experiencing this year.
  • Most employers see little relief in sight, as seven in 10 (71%) expect moderate to significant increases over the next three years.
  • The survey of 455 U.S. employers revealed several actions employers implemented or used this year, or expect to pursue, to manage costs and enhance employee affordability.
  • And with limited budgets, the challenge of making decisions that consider healthcare affordability and engagement is exponentially greater.

Industry Leader Thomas Sass Joins Gravie; Company Continues on Explosive Growth Trajectory

Retrieved on: 
Monday, February 1, 2021
Health insurance, Employee benefits, Defined contribution health benefits, Health benefit, Employment, Insurance, Gravie, Benefit, Health care, Health

MINNEAPOLIS, Feb. 1, 2021 /PRNewswire/ -- Gravie, the leader in defined contribution health benefits, today announced the hiring of Thomas Sass as vice president of business development.

Key Points: 
  • MINNEAPOLIS, Feb. 1, 2021 /PRNewswire/ -- Gravie, the leader in defined contribution health benefits, today announced the hiring of Thomas Sass as vice president of business development.
  • Sass comes to Gravie with an extensive background in health benefits, risk management and insurance as well as a track record of proven leadership in bringing innovative ideas to market.
  • "Tom has an incredible wealth of industry expertise and insight, and a strong track record of delivering business results," said Abir Sen, Gravie's co-Founder and Executive Chairman.
  • "His deep understanding of the many dynamics shaping the future of employee health benefits and insurance will be critical as Gravie continues to reinvent the future of employee benefits."

Employers express interest in individual coverage health reimbursement arrangements

Retrieved on: 
Monday, November 16, 2020
Healthcare in the United States, Employee compensation in the United States, Corporate taxation in the United States, Health Reimbursement Account, Employee benefits, Patient Protection and Affordable Care Act, Tax, Health, Defined contribution health benefits, Health insurance in the United States

ARLINGTON, Va., Nov. 16, 2020 (GLOBE NEWSWIRE) -- Individual coverage health reimbursement arrangements (ICHRAs), a new employer-sponsored health care benefit program for active employees that became available this year, are drawing the attention of U.S. employers, particularly wholesale and retail employers and those in education and the public sector.

Key Points: 
  • ARLINGTON, Va., Nov. 16, 2020 (GLOBE NEWSWIRE) -- Individual coverage health reimbursement arrangements (ICHRAs), a new employer-sponsored health care benefit program for active employees that became available this year, are drawing the attention of U.S. employers, particularly wholesale and retail employers and those in education and the public sector.
  • With an ICHRA, employees choose where their medical benefit dollars are spent by purchasing individual insurance coverage and then receiving a reimbursement through an employer-sponsored health reimbursement arrangement.
  • The survey found growing interest in this new benefit as a way for employers to keep their costs fixed by giving employees the opportunity to manage their own health care benefit choices and spend.
  • However, we expect to see interest grow as companies learn more about ICHRAs and the market for individual health plans continues to grow more robust each year.