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Welcome to the Institute for Human Resources (IHR) Benefits: Cost Containment, Audits and Legal Risks Workshops and Program! This session will introduce the Benefits Community and the Institute for Human Resources (IHR) certification program. You’ll find out about the workshops that will be available, and learn how the IHR certification process works. Amanda Norris is the “Go Getter” at HR.com. She manages HR.com’s Institute for Human Resources Benefits: Cost Containment, Audits and Legal Risks, Performance Management and Health and Safety. She is responsible for building and aligning the curriculum for these Institutes as well as generating a strong network of industry professionals who will be able to collaborate and offer content to the HR.com members. Throughout this conference you will gain practical ideas and concepts that you’ll be able to put into practice in your business.
The Institute is committed to furthering the deploying and adoption of best practices across the Benefit vertical. The Institute provides an opportunity to bring together industry thought leaders in a year-long community that promotes best practices among vendors and HR Professionals with a series of research, webcasts, presentations, virtual events, awards and market research. The next two days mark the seventh virtual event for this great community. We have a very exciting event planned for you with many informative sessions covering the hot topics and trends in this exciting space.
You will be introduced to the Advisory Board, learn about the opportunity to become certified within the IHR and see who is speaking and their topics. You will be given guidance on how to chat online with colleagues and access the virtual exhibit hall. You will have the opportunity to ask questions as it relates to the overall program, prior to its commencement. You can access all of the archived sessions where we launched this Institute in May, 2011.
Dependents are responsible for over 70% of most company’s health care costs, but on average 4-8% (10% + in some states) of those dependents are NOT eligible for coverage. This can cost an employer tens of thousands, hundreds of thousands, even millions of dollars annually. In addition, unknowingly providing benefits to ineligible dependents puts companies in non-compliance with ERISA and dilutes the integrity of their own plan documents.
As companies and their benefits advisors conduct their “Pay or Play” analysis under PPACA, they’re looking closely at dependent eligibility to get an accurate measure of current and future costs. In fact, recent research shows that due to a persistently poor economy and general confusion about benefit eligibility, the rate of ineligible dependents has increased from 5.8% to 7.99% since PPACA. A comprehensive audit will remove those ineligible dependents, educate employees on the value of their benefits plans, strengthen the compliance of a company’s benefits offering, and save employers significant money.
This webinar explores what an employer has to gain or lose by conducting a Dependent Eligibility Audit, Best Practices whether done internally or outsourced, and how timing, employee sensitivity, and messaging will determine success or failure. Participants will learn what fraud in a benefits plan looks like, how prevalent fraud really is, and what type of savings they can generate for their company with an audit. They will learn what to consider before launching an audit, what types of audits are most common, and the pros and cons of in-house versus outsourcing verification. Topics will also include employee engagement and penalty strategies, timing of an audit, ROI expectations and more. Additional self-guided tools will be made available upon request.
Half of Americans do have access to a retirement savings plan at their workplace. For those that do join they tend to save too little and often make unwise investment decisions. The 401(k) arena is in crisis, and workers need sound guidance and help to solve this problem. This presentation will show what sound guidance is needed to help participants make the right choices within their retirement accounts.
We will start by focusing on the problems participants make which include, not saving, not saving enough or making poor investment choices. Once we understand these problems, we can begin to offer solutions to transform employee behavior by creating tools that address these issues and thereby dramatically improve outcomes. The goal is to see that all participants are 'retirement ready' and have enough replacement income in retirement by helping them:
• Save: three steps needed to implement for improved saving and investing for retirement.
• Save More: 'retirement income ratio' what is it, how to calculate it, why it matters
• Save Smarter: 'how much is enough? for retirement, and how measure it, and how to get there.
The retirement replacement income discussion will focus on what it is, how to help employees calculate it based upon their age, personal savings rate, rate of return and participation rate. We will then discuss what steps an employee must take if they are not on track to achieve satisfactory retirement replacement income. Additionally, we will discuss how employee education alone is not enough to move participant behavior in the right direction, and why we must use the tools discussed in this presentation in order to achieve successful retirement outcomes.
You can generate cost-savings and increased productivity with new health care analytics solutions. New analytics tools can simplify defining and executing population health improvement strategies, reducing HR workloads and yielding improved, measurable health outcomes.
Have you tapped the cost savings that can be achieved from Benefit Plan Design? Is your wellness program going down the same road? Never fear! This session will enable you to understand the value of analytics and ensure that you are working smarter, not harder to achieve your population health and productivity goals.
Analytics capabilities have evolved from traditional benefit plan design tools, to easy-to-use solutions to help understand and improve population health. While analytics have traditionally been very expensive and used mainly for Benefit Plan Design, they are now more cost-effective and being applied to Wellness Plan Design, the next frontier of human resources productivity gains and cost savings. Analytics tools are differentiated based upon how they create action and drive strategy. Over the past several years, concepts around Big Data have made health care analytics less costly, more powerful, and more useful to Human Resources teams.
In this session, we will cover the above rationale and evolution of analytics, along with a structure for how you can apply analytics effectively within your organization. Which types of data are most valuable? How can results be applied to population health strategy? What are the keys to success? These questions and more will be addressed. Lastly, we will demonstrate a practical, real-world example of how analytics combine with wellness strategy and wellness tools to help you achieve population health improvement.
For decades corporations have installed benefits such as 401K plans to help their committed employees plan for their retirement and attain a treasured asset. Many corporations have even gone the extra mile by incentivizing employee participation through matching funds campaigns. But in most instances it’s been the employees’ responsibility to wisely retain and protect their retirement portfolio. A solid financial plan, hard work and saving for the future are key to helping achieve retirement goals. However, no matter how much forethought goes into a financial plan, a long term need could seriously impact a lifetime of savings. Planning early for an unfortunate accident or a future long term care need can pay off both financially and emotionally. And exploring possibilities while you are still healthy, may provide more savings and available options.
This webcast will discuss strategies for both employers and employees to protect their wealth and health. We’ll identify options for handling a long term care crisis and smart and affordable ways to plan for long term care. We’ll also share recent data illustrating the impact of long term care on employers and employees. And we’ll make recommendations to address the impact.
Attendees will learn about long term care risk and the various steps that can be taken to minimize those risks. After the session, attendees will have a better understanding of how they can promote education to help employees better understand the risks and options available to address planning for long term care.
Join, Long Term Care: Protecting Your Health & Your Wealth to gain a better understanding of where your retirement is headed.
Corporate Wellness is becoming vastly accepted as one benefit you can't afford to do without. How do you know if you have a comprehensive program and what is on the horizon within this aggressively changing industry?
Our class is designed to educate you on how to incorporate Customized Care Plans and Building a Wellness and Health Promotion Network to create an evidence- based wellness program. Bringing in individualized and customized tools, designed with the human touch in mind can ensure that your wellness program is also Productivity Insurance.
We also take a look at other ROI factors beyond controlling healthcare costs to motivate additional tracking and planning within a wellness committee. We will discuss an example of a Diabetic Employee and their potential costs on a company (well beyond healthcare costs) in comparison to a healthy employee. By looking at all potential disease factors – from healthcare costs to productivity loss, absenteeism and even workers comp and disability claims; employers get a true understanding of what the dollars spent on comprehensive wellness programming can save them in the end.
Understand what diseases and disease symptoms are quickly becoming the latest expenses in the healthcare world and how you can insure you are screening for these potential claims. Diseases like Asthma and mental health disorders are fast becoming major healthcare claims. Employers must ensure that their wellness providers are poised to provide programs beyond exercise and nutrition in order to stay ahead of these alarming trends.
Learn how providers can customize, create, and track an employee care plan, as well as build a CAM network to assist your higher risk employees.
For as long as most people can remember, the “strategy” each year when evaluating the employee benefits programs and the associated costs has been to shop the insurance carrier, change the plan design, and alter employee contributions. But as health insurance costs continue to spiral upward at an alarming rate, it has become painfully clear, that these strategies will not and cannot provide any form of sustainability or predictability over the long term. All these strategies do is shift risk from one insurance carrier to another, or shift costs and liability from the insurance carrier or employer onto the employee.
If employers are to realize the goal of having an employee benefits program with stable costs and predictable results year over year, the thinking and methodology has to shift from that of RISK TRANSFERENCE to RISK MANAGEMENT. Employers and their consulting and vendor partners have to identify all of the areas of risk encompassed within their benefits programs, and institute focused strategies on managing and containing that risk.
This presentation will identify the three areas of risk in an employer sponsored health insurance plan, discuss the traditional methods and some of the newer methods employers have used to attempt to manage that risk, address why those attempts may have been unsuccessful, or have underperformed, and then lay out a thought process and strategy for a visionary and futuristic approach to manage risk. Attendees will get to see real world data and results from an organization that has adopted this approach. Attendees will be able to ask the presenters specific questions regarding their own experiences and situations.
You've spent countless hours choosing the right medical plan for your company and your employees – now what other attractive options can you bring to your employees to reduce absenteeism, retain top performing employees and attract the best of the best? Non-insurance products and telehealth services provide consumers with choices designed to spend less of their hard-earned benefit dollars.
Why should you help your employees fully maximize their healthcare spending by providing these low cost consumerism programs? In an article written by Joshua Hilgers entitled, “How technology, innovation and legislation will change the way millions purchase health insurance,” he states “the employer-sponsored health plan is going the way of the employer-paid pension plan and will be virtually nonexistent after 2014.” With the average deductible up to $1,500 from $500 just a few years ago and a growing number of deductibles at $2,500 and beyond, 8.5 out of 10 employees never reach their deductible. As a result, they are actively looking for alternatives to fill in the gaps and stretch their hard earned dollars.
Annual double digit premium increases, far outpacing inflation, are simply unsustainable. Employers providing coverage to their employees have no choice but to raise deductibles and raise or eliminate co-pays just to keep the annual increases in the single digits. There are some tools in the tool box such as HSAs to help mitigate the employee’s ever growing shared financial responsibility of health care costs, but with the economy mired in a stubborn recession, how much more burden can your employees take on?
Implementing products such as telehealth, medical bill saver and medical health advisor can help your employees and your organization save time and money as well as teach your employees how to be better healthcare consumers.
70% of all doctor visits can be handled over the phone.
25% of employee’s day is spent on their own personal issues.
Employees can save on medical expenses not typically covered by their health insurance plan.
Sandy Heard, SPHR, Vice President, HR at New Benefits, is presenting for Greg Schlatter, EVP Business Development at New Benefits. She will speak about how non-insurance products and telehealth services can fill that gap for your organization.