Tag: employee benefits

Insurance news made by worker benefits study

G. Turner
health insurance confusion

Research shows that 89 percent of employees select the same coverage options every year. According to the results of a recent survey which are making insurance news, 54 percent of workers in the United States would opt not to gain greater control over their health plan options because they feel overwhelmed by the requirement to make this type of decision. The survey was conducted online with the participation of thousands of decision makers and workers. This was the third annual Aflac WorkForces Report and it has been making insurance news…

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Employees are receiving more creative benefits from companies

Julie Campbell

Companies are providing a wider range of unique and creative benefits to their employees in 2012, with available services ranging from discounted jewelry to pet insurance, reduced funeral planning costs, cancer insurance and even meditation services at the desk. These additional benefits are arriving at a time when employers are trying to keep their workers content in their workplaces despite the higher workloads, pay cuts, reductions in matches for 401(k), and higher costs for health insurance. According to managing director John Breman, from the employer consultancy, Towers Watson, businesses are…

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Families in Ireland may soon have trouble paying for health insurance

Dan

The insurance industry in Ireland is facing troubling times, which may translate into higher rates for consumers. The Irish Patients Association has spoken out about the coming health insurance rate increases coming from several insurance companies. The IPA claims that rates are rising so quickly that they may make it impossible for families to hold on to their policies. The consumer advocacy organization says that if the problem is not addressed legislatively, health insurance will become unaffordable within the next few years. This week, Aviva Health Insurance and VHI Healthcare…

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Pennsylvania Insurance Commissioner encourages consumers to take advantage of open enrollment season

H. Cutner

Open enrollment season for health insurance has come to Pennsylvania and the state’s insurance regulators are urging consumers to weigh their options before making any decisions on coverage. Insurance Commissioner Mike Consedine released a statement yesterday in which he outlined the benefits of evaluating multiple insurance policies and state-run programs. Policies from other insurance companies may be more beneficial for a person’s needs than those offered by their current insurer. Keeping an eye out for such policies can net significant savings. Some employers may begin offering a wide variety of…

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Enrollment rate for employer offered health insurance plans is on the rise, according to Mercer

Despite reports that employers will be making cuts to the health care benefits they offer to workers as the Affordable Care Act becomes fully established in 2014, Mercer, an acclaimed consulting firm based in New York, says that quite the opposite will happen. According to Mercer, enrollment in health insurance plans offered by employers is increasing. The consulting firm surveyed a wealth of companies throughout the nation and found that the vast majority of them were bent on continuing to provide their workers with health care benefits. According to Mercer’s…

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S.C. Budget and Control Board raises rates on public employee health insurance.

The South Carolina Budget and Control Board has voted to increase the premiums of the state-run health insurance program that offers coverage to public employees. The board voted Tuesday to raise the rates of the program by 4.5% total which will be put into effect at the beginning of next year. More than 400,000 state employees are covered by the program as well as 100,000 retirees. The vote has drawn some criticism from state workers who argue that the increase is unjustifiable. Employees of the state say that they had…

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Report shows workplace disability insurance protects workers and saves taxpayers

A study commissioned by Unum, the leader in employee benefits, and performed by Charles River Associates, has shown that group disability insurance protects up to half a million families from poverty, and directly saves taxpayers and the government up to an estimated $4.5 billion every year. According to The Wharton School emeritus professor David F. Babbel, who is the Charles River Associates leader of the Insurance Economics Practice, the study “quantifies the immense economic value financial protection products such as disability, life and long term care insurance provide American workers.”…

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