Renewal Season

Employee Wellness — A recent incident of a news anchor falling asleep on air highlighted the issue of sleep deprivation in the workplace.

Brain health professional Candy Calderon noted that women are more impacted by sleep deprivation than men. This disparity can have significant effects on employee wellbeing and productivity.

As you consider the impact of sleep deprivation on your workforce, you should also be looking at how to address the underlying causes of this disparity, such as unequal distribution of caregiving responsibilities and workplace flexibility, to better support your female employees' overall wellbeing and productivity.

Employee Wellness — Employers are encouraged to look beyond healthcare claims to understand the full value of employee health and well-being benefits, which can influence employee productivity, engagement, retention, and overall organizational performance.

Comprehensive support, including healthcare navigation, clinical guidance, and behavioral health resources, can help employees thrive and strengthen business outcomes.

By investing in whole-person support, employers can create a healthier, more engaged workforce and manage healthcare costs.

Employee Wellness — Shape Up US, a 501(c)3 non-profit, partners with organizations to set up corporate wellness programs, including fun and functional events like Pickleball, to promote employee health and wellbeing.

These programs aim to increase productivity and improve bottom-line results by enhancing cognitive function, boosting energy levels, and improving concentration and focus.

Shape Up US offers its services for free through grants, sponsorships, and vendor booths.

Employee Wellness — Employers can offer employee wellness programs that include corporate produce box programs, pop-up farmers markets, and Lunch & Learns. These programs aim to bring fresh local food to the workforce.

The goal is to promote employee wellness through healthy eating options.

HR Executive — A survey of over 300 HR professionals by InComm Benefits found that employee experience is the primary factor in evaluating spending account providers, with many employees unsure how to use their benefits.

HR teams are managing broad responsibilities beyond benefits and are looking for providers that can deliver responsive support and employee education.

The survey highlights a gap between what employees need from Health Savings Accounts and the support HR teams receive from providers.

You should be evaluating your HSA vendors not just on their administrative capabilities, but also on their ability to provide employee-centric support and education, recognizing that a positive employee experience is crucial to maximizing the value of these benefits and reducing the administrative burden on your HR team.

Employee Benefits RFP — Payroll is often underutilized as a retention tool, but it can be a platform to communicate employee value and drive retention.

According to Payroll Integrations' Employee Financial Wellness Report, 58% of employees stay in their current role due to benefits, but many are unaware of the full value of their compensation.

By using payroll as a communication touchpoint and integrating payroll systems with benefits providers, employers can reduce operational risk and improve employee retention.

Employee Benefit Trends — At least 500,000 employees are being offered cash-for-coverage plans by their employers, according to recent trends. This approach allows employees to opt out of traditional group health coverage in exchange for a cash payment.

The specifics of these plans vary by employer, but they are becoming increasingly common.

As cash-for-coverage plans become more prevalent, you will need to carefully consider the potential long-term implications of these arrangements on your employees' health and financial wellbeing, as well as the potential impact on your own benefits strategy and budget.

Employee Benefit Trends — A survey by CVS Caremark and Employee Benefit News found that employers rely on their pharmacy benefit managers to manage rising drug prices and maintain access to quality care, with key opportunities including managing GLP-1s and encouraging biosimilar substitution.

The survey also showed that only 49% of employers are encouraging biosimilar substitution, despite its potential to reduce drug costs.

CVS Caremark has been promoting biosimilar adoption, resulting in over $3.3 billion in gross savings for its clients and members since April 2024.

Nebraska Examiner — The cost of childcare in the US averages $13,184 annually per child, with many families finding it unaffordable and providers underpaid.

Nebraska Sen. Deb Fischer and Iowa Rep. Ashley Hinson are leading bipartisan legislation to change how childcare subsidies are calculated, potentially increasing the supply and quality of providers.

The current system has not accounted for economic changes since 2014, using the same formula to calculate subsidies, according to the First Five Years Fund.

You should be paying close attention to developments in childcare policy and considering how you can support your employees' childcare needs through benefits like dependent care FSAs, backup care services, or on-site childcare, recognizing that affordable and accessible childcare is essential to supporting the productivity and retention of working parents.

Employee Benefit Trends — The US Department of the Treasury and the Internal Revenue Service released proposed regulations for employer-sponsored Trump Account programs, allowing employers to contribute up to $2,500 per employee's dependent tax-free and employees to defer pretax dollars into a dependent's account.

The proposed rules aim to make setup easier for employers, including a safe harbor for matching the $1,000 federal pilot contribution.

Employers must weigh the costs and benefits of implementing a Trump Accounts program, considering factors such as employee demand and nondiscrimination testing.