by admin | Sep 14, 2023 | Employee Benefits, Johnson & Dugan News
Redwood City, CA, September 13, 2023 – Mployer Advisor, the leading independent platform for employers to research, review, and evaluate insurance advisors has named Johnson & Dugan Insurance Servies a winner of its third annual “Top Employee Benefits Consultant Awards” for 2023. Mployer Advisor’s Top Employee Benefits Consultant Award Program evaluates brokers based on breadth and depth of experience across employer industries, sizes, insurance products, and employer reviews. We recognize esteemed brokers that demonstrate market-leading competencies and a proven track record of success among employers, insurance providers, and peers.
For 40 years, Johnson & Dugan’s highest priority has been to make it easy for any company to expertly plan and administer employee benefits. Johnson & Dugan prides itself on consistently delivering and maintaining high standards of quality for each and every one of our clients. All of the companies we work with receive superior customer service, regardless of their size or the level of complexity of their employee benefits program, Michael Johnson, CEO.
Our team is proud to recognize this group of 2023 top-rated insurance advisors as part of our third annual Top Employee Benefits Consultant Awards,” said Brian Freeman, the Founder and CEO of Mployer Advisor. “Employer-sponsored healthcare and benefits cover over 150M Americans. Who an employer selects as their benefits advisor has more impact on employee cost and satisfaction with their healthcare than who an employer chooses as the insurance carrier. We have rated these brokerages utilizing sophisticated, industry-first algorithms, and we applaud the winners’ demonstrated commitment to service, quality, and positive employer feedback.”
Mployer Advisor determined the winners of the third annual “Top Employee Benefits Consultant Award” by analyzing each brokerage based on historical data, online reviews, their M Score rating, and demonstrated business experience.
To view a complete list of the 2023 recipients of Mployer Advisor’s “Top Employee Benefits Consult Award,” visit MployerAdvisor.com.
To view Johnson & Dugan’s profile on Mployer Advisor, visit https://mployeradvisor.com/insurance-brokers/california/redwood-city/johnson-dugan-insurance-services-corporation.
About Johnson & Dugan:
Since 1983, Johnson & Dugan’s highest priority has been to make it easy for any company to expertly plan and administer their employee benefits plans.
Unlike other employee benefits consulting firms, J&D does not deliver one-size-fits-all solutions — our team works with each client to deliver the right mix of expertise, products, services and support based on the scope of their needs — with the flexibility necessary to adapt to organizational changes.
About Mployer Advisor:
Mployer Advisor is changing the way employers search, evaluate, and select insurance advisors. The intuitive platform connects employers and employees to great benefits and insurance plans by providing employers with actionable data to easily evaluate and select the best advisor for a company’s specific needs. Most brokerages have a profile on Mployer Advisor, which provides independent ratings of insurance advisors to support employers. Insurance brokers cannot pay to influence their Mployer Advisor rating. Only highly rated brokerages are allowed to advertise on the platform. To learn more about Mployer Advisor, visit https://mployeradvisor.com and follow us on LinkedIn.
Disclaimer: Rankings are dynamic, and this report may not reflect the rankings currently listed on Mployer Advisor’s website. Because Mployer Advisor’s research is ongoing, interested companies that want to join next year’s list are encouraged to claim their free profile on Mployer Advisor.
by admin | Sep 13, 2023 | Hot Topics
In the U.S., the outstanding balance is $1.75 trillion in student loan debt. Approximately 55% of students from public four-year universities have student loans, with a balance of $37,338 owed per borrower. Beginning in October, workers nationwide will need to resume payments on their student loans for the first time since March 2020. The pandemic-related pause on both payments and interest accumulation that is ending is a stressor for employees who are increasingly seeking financial assistance from their employers.
People across all age groups struggle to balance student debt and retirement savings. It is reported that as many as 81% of people with student loans have needed to delay important life goals such as retirement or buying a home. Contributing early to a workplace retirement account is important so that employees can maximize the effect of compound interest in retirement.
3 Major Ways That Employers Can Help Their Workforce Pay Off Their Student Loans and Save for Retirement:
- Student Loan Repayment Assistance Programs – Employers can offer their employees student loan repayment assistance (LRAP) as a recruiting and retention tool. With LRAP, the employer makes monthly student loan payments to the employee’s lender, helping the employee to repay their student loans quicker. Additionally, through 2025, employers can repay up to $5,250 a year tax-free on employee student loans through the 2020 CARES Act.
- 401(k) Match for Student Loan Repayments – In December 2022, the Securing a Strong Retirement Act (SECURE 2.0) became law. This law – which starts in January 2024 – allows employers to match contributions to workplace plans – including 401(k)s, 403(b)s, 457(b)s, and simple IRAs – based on an employee’s qualified loan payments.
- Financial Literacy Programs – These educational tools can help teach employees how to develop a budget and savings plan, create attainable goals, project retirement needs, purchase a home and manage mortgage options, and manage debt- including student loan and credit card payment options.
Let’s face it, work isn’t the only thing stressing employees out – money can be a huge source of anxiety and a constant source of stress. With millions of Americans struggling to repay their student loans and/or save for retirement, this financial pressure can seep into their performance in the workplace. And managing finances isn’t just stressful – it’s time-consuming. Having access to financial well-being benefits and resources can empower employees to get on the path to financial prosperity.
by admin | Sep 7, 2023 | Employee Benefits
If the so-called Great Resignation taught us anything, it’s that employees are looking for more than just a salary when it comes to their jobs. Employee benefits have a crucial part in enhancing engagement, attracting new employees, and retaining top talent.
Employee benefits refer to any form of compensation that employees receive in addition to their base wages or salaries, such as insurance (medical, dental, life), stock options, and cell phone plans.
During the recent State of HR in Asia-Pacific survey, it became clear that HR professionals are thinking more strategically about the benefits they offer employees. According to the survey, 35.52% of professionals are offering wellness benefits, while 34.15% have implemented employee assistance programs (EAPs). More than a quarter are offering childcare support (25.41%) and 24.04% include mental health coaching.
Nowadays, employee benefits extend far beyond these examples, encompassing a wide range of offerings, including training opportunities and stock options, mental health breaks, and even a few more unusual perks. Here are just a few:
Health Stipends
PwC Australia has always done things differently, including famously abolishing its employee dress code in 2017. The company partnered with health and fitness companies across the continent to offer compelling health and fitness perks to their staff.
“The well-being of our people is critical now, but the focus will continue to grow, and we’ll need to enhance the support provided. Employees are increasingly looking to their employer to provide support in all aspects of their life – we’ll need to continue to evolve our value proposition to meet these needs,” says Catherine Walsh, Head of People and Culture at PwC Australia.
Employee wellness programs are essential perks to offer because they prioritize the well-being and health of employees, leading to numerous benefits for both individuals and organizations. By providing wellness initiatives such as fitness programs, mental health support, healthy lifestyle resources, and stress management techniques, employers demonstrate their commitment to the overall well-being of their workforce. Wellness programs have also been known to reduce absenteeism and burnout.
Power Naps
The power nap system may seem unusual, but it’s commonplace in Japan. Called inemuri (or the principle of sleeping at work) was added as a perk by companies like the construction firm Okuta years ago. Japanese workers are generally hesitant to take time off, work more overtime than other countries, and generally get less sleep. Napping on the job has become commonplace, with several businesses installing special sleep pods for workers. Power naps can be a valuable employee perk due to their positive impact on productivity and well-being.
Offering dedicated spaces or designated break times for power naps recognizes the importance of rest and rejuvenation in maintaining optimal performance. Short periods of sleep have been shown to enhance cognitive function, memory, and creativity, allowing employees to return to their tasks with improved focus and alertness. Power naps can help combat midday fatigue, reducing the likelihood of errors and accidents.
Major Discounts
Australian airline Qantas offers staff generous perks when they are traveling, including 25% off Qantas flights, 10% off hotel bookings, 15% off car rentals, and discounts on airport parking, tours, and cruises. This not only attracts employees who love to travel but gives staff an opportunity to experience traveling with Qantas first-hand. In addition, by extending discounts on various travel-related expenses, Qantas demonstrates its commitment to supporting the travel experiences of its staff, creating a positive work environment, and promoting a culture of work-life balance.
Giving Back
According to a blog post by Salesforce Australia, 93% of employees who engage in pro-bono work feel happier and more purposeful, while 91% believe they are productive and engaged. The survey also found that employees who volunteer are 40% more likely to stay with the company. That’s why Salesforce Australia offers employees seven days off every year to spend volunteering. “It’s a great feeling to know that we’re helping the environment as well as the community. Plus, the benefits for the team were getting to know each other outside of work, building connections, and having fun,” says Angelica Veness, Senior Manager of Solution Engineering at Salesforce.
Sabbaticals
Deloitte Singapore introduced a generous sabbatical policy as part of their Work-Life Integration program. Audit and Assurance Associate at Deloitte Singapore Clement Chow took a 12-month sabbatical to care for his young son but had previously taken time off (with a paid allowance) to compete as a Team Singapore triathlete.
Deloitte Australia also introduced a program called Career Flex that allows staff to take three months’ unpaid leave to study, refresh, or travel.
Balance and Breaks
Most companies have maternity (and sometimes paternity) leave, family responsibility leave, and study leave on offer for employees who need it, but others are thinking differently about the breaks employees might need. Hime & Company in Japan gave staff two mornings off per year to attend sales as well as “heartbreak vacations” for employees going through breakups several years ago; today, it’s available from businesses in Japan, Germany, and other countries. The policy was popular enough to become part of Japan’s labor laws in 2020.
While those examples might sound unusual, recognizing that employees need time off to spend on personal matters can have a big impact on their well-being, engagement, and overall job satisfaction.
Chinese mega-brand Alibaba provided staff with an extremely generous leave package following a challenging period in the company, including giving employees seven days paid leave to attend family reunions following COVID, ten extra days of leave for new parents, and a once-off twenty days of leave for employees who have worked for the company for ten years or more. This is a true reflection of Alibaba’s company values, which states: “Work is for now, but life is forever. We want our employees to treat life seriously when they work and enjoy work as one enjoys life. We respect the work-life balance decisions of every individual.”
Stock Options
ICICI Bank in India is known for its generous employee benefits, but they’ve recently upped the ante by introducing an ESOP program (employee stock option scheme) for employees. The company allotted equity shares to employees under the ICICI Bank Employees Stock Option Scheme 2000.
Stock options give employees the opportunity to become partial owners of the company. This sense of ownership can foster a stronger connection and alignment between employees and the organization’s goals and performance. When employees have a stake in the company’s success, they are more likely to work towards its growth and profitability.
Four-day Workweek
Whereas some Japanese companies are offering naps on company time in response to their over-commitment to work, others are leaning into compressed work weeks. Panasonic started offering employees the option of taking a four-day workweek. Considering that only 8% of Japanese companies offer more than two guaranteed days of leave a week, it’s a radical policy.
With an extra day off each week, employees have more time for personal activities, hobbies, and spending quality time with family and friends. This improved work-life balance can lead to reduced stress levels, increased job satisfaction, and overall well-being.
While it may seem counterintuitive, many studies and real-world examples have shown that reducing the workweek to four days can actually boost productivity. With a shorter workweek, employees tend to be more focused, motivated, and efficient in completing their tasks. They often prioritize their work, avoid unnecessary distractions, and find innovative ways to increase productivity within the reduced timeframe.
According to recent research, more than three in every four Singaporeans are interested in jobs offering a four-day workweek.
“In mature economies like Singapore, it starts to become about the quality of life and what work means,” says Jaya Dass, MD of Randstad Singapore as reported by CNBC. According to Das, Singaporeans are not willing to sacrifice their personal lives for their careers anymore and find a four-day workweek very appealing.
Being a Standout Employer with Unique Benefits
The APAC region is a diverse and competitive market. Offering unique perks can help organizations stand out as attractive employers, attracting and retaining top talent. With some of these examples, we’ve seen how innovative perks related to work-life balance and well-being can resonate well with the local workforce. By offering interesting employee benefits, you can differentiate yourself, boost employee satisfaction, and gain a competitive edge in the talent market.
By Francesca Di Meglio
Originally posted on HR Exchange Network
by admin | Aug 31, 2023 | Human Resources
Many in Human Resources talk about talent management in abstract terms but much of it has to do with helping people with habit formation. Indeed, HR can teach people to develop patterns of behavior that will contribute to the success of the individual and the organization. They can work with individuals and teams to ensure these good habits form over time.
Anastasia Buyalskaya, Assistant Professor of Marketing at HEC Paris, recently talked to HR Exchange Network about her research related to habit formation. The findings can assist HR professionals as they seek to offer employees the necessary tools for creating a healthy life and the means to achieve positive business outcomes. This study is a revelation because it undoes some of the myths about good and bad habits. It relates to the book Atomic Habits, which was on the 2022 HR Summer Reading list and is worth revisiting now.
Is It Possible for Employees to Form Good Habits?
In the meantime, discover what Buyalskaya shared about this study and helping people deploy positive patterns of behavior:
HREN: Briefly describe in easy-to-understand language the study and explain the connection between machine learning and habit formation.
AB: The study conducted by behavioral scientists at HEC Paris, Caltech, University of Chicago, and the Wharton School at University of Pennsylvania challenges the commonly held belief that it takes 21 days to form a new habit. In fact, the researchers found that there is no “magic number” of days required to form a habit. The time it takes to develop a habit depends on various factors, such as the behavioral domain – for example, a simple motor habit will take a shorter period of time than a complex habit which requires planning. The study also looked at how individuals respond to changes in rewards. The study revealed that once a habit is formed, individuals are less likely to respond to changes in rewards than those who have yet to create a habit.
HREN: What are the big takeaways?
AB: The big takeaways from the study are that there is no fixed number of days required to form a habit, and the time it takes varies depending on factors like behavior complexity. Contrary to the popular belief that it takes 21 days, the study found that it takes approximately two weeks or nine to 10 shifts for a habit to form (hand sanitizing, for example). However, forming a habit of going to the gym takes much longer, on the order of several months.
HREN: Why is this good information for those in Human Resources to have?
AB: This information is valuable for those in Human Resources because it provides a more nuanced understanding of habit formation in real-world scenarios. HR professionals can use this knowledge to design effective strategies for promoting healthy habits among employees. Secondly, the study suggests that it is easier to motivate individuals who have not yet formed a habit, highlighting the importance of early intervention. HR teams can focus on incentivizing and encouraging employees to adopt healthy habits soon after they join the company before these routines become ingrained.
HREN: What kinds of practices could we recommend to those in HR trying to help their workforce?
AB: To help their workforce, HR professionals could recommend practices such as implementing reward systems, providing education and training on healthy habits, and creating a supportive environment that encourages behavior change. Offering financial or social incentives to develop healthy behaviors early on in an employee’s journey with a company may be particularly effective at kick-starting habit formation. Secondly, HR can promote awareness and education about habit formation, helping employees understand that it is a process that varies depending on the behavior and individual.
HREN: Is there anything else you’d like to share? If so, what?
AB: A machine learning technique was used in the study. Machine learning is very useful for analyzing and interpreting large amounts of data on human behavior. HR professionals may also consider building up data science capabilities to apply some of these machine learning algorithms to their own datasets and therefore be able to study habit formation and uncover other patterns of behavior among their employees.
By Francesca DiMeglio
Originally posted on HR Exchange Network
by admin | Aug 24, 2023 | Compliance
PROPOSED CHANGES TO SHORT-TERM, LIMITED-DURATION INSURANCE
On July 7, 2023, the U.S. Department of Health and Human Services (HHS), the Department of Labor (DOL), and the Department of the Treasury proposed changes to modify the definition of short-term, limited-duration insurance (STLDI) and the conditions for fixed indemnity insurance to be considered an excepted benefit. The proposal also asks for comments on specified disease plans and level-funded plans. The proposal looks to clarify the tax treatment of certain benefit payments under group health plans.
Short-term, limited-duration insurance is meant to fill temporary gaps in coverage during transitions. The proposal suggests limiting the initial contract period to no more than three months and the maximum coverage period to no more than four months, including renewals. This change aims to differentiate STLDI from comprehensive coverage and reduce financial risk for individuals using it as a long-term alternative.
The proposal also forbids the same issuer from issuing multiple STLDI policies to the same policyholder within a year (known as “stacking”). STLDI sales mainly occur through group trusts or associations, and the proposal clarifies that such sales are not group coverage for federal law purposes.
Fixed indemnity plans provide income replacement rather than full medical coverage. The proposed regulations look to clarify that this coverage should not pay benefits on a per-service basis, to avoid mimicking comprehensive coverage without providing the same consumer protections. The proposal also includes payment standards for fixed indemnity plans and clarifies that such coverage must be offered independently without coordination with other health plans.
Consumer notices would provide clearer information on the differences between STLDI, fixed indemnity excepted benefits coverage, and comprehensive coverage.
PCORI FEE PAYMENT
Plan sponsors of self-funded medical plans, including health reimbursement arrangements (HRAs), were required to report and pay fees to the Patient-Centered Outcomes Research Institute (PCORI) by July 31. This fee on group health plans was created through the 2010 Patient Protection and Affordable Care Act (ACA).
Research funded by PCORI concentrates on healthcare challenges faced by families every day, including cancer, diabetes, maternal mortality, opioid addiction, mental health, and equitable access to care, among many others.
If you believe you should have paid this fee, contact your broker for information, and access additional information including Form 720 for to submit the fee.
GROUP HEALTH PLANS ENCOURAGED TO EXPAND ENROLLMENT PERIOD FOR INDIVIDUALS LOSING MEDICAID AND CHIP
In a letter dated July 20, 2023, from the Center for Medicare and Medicaid Services (CMS) to employers, plan sponsors, and issuers, the Biden Administration encouraged these entities to offer additional enrollment opportunities in group health plans for employees and their dependents who are losing coverage under Medicaid.
The U.S. is experiencing a health coverage transition due to the COVID-19 pandemic. The pause on Medicaid coverage verifications and terminations ended on March 31, 2023, and state Medicaid agencies are now resuming regular eligibility and enrollment operations, which include renewing coverage for eligible individuals and terminating coverage for those no longer eligible.
According to a Department of Health & Human Services report, about 3.8 million individuals who lose Medicaid eligibility could be eligible for employment-based coverage. The Administration believes that many people may need more than the typical 60-day window after losing Medicaid or Children’s Health Insurance Program (CHIP) coverage to apply for and enroll in other coverage, especially considering the unique circumstances surrounding the resumption of Medicaid and CHIP renewals.
To address this concern, CMS has announced a temporary special enrollment period on HealthCare.gov. Marketplace-eligible individuals who lose Medicaid or CHIP coverage and come to HealthCare.gov between March 31, 2023, and July 31, 2024, will be able to enroll. Employers are encouraged to follow suit by expanding special enrollment periods for individuals losing Medicaid or CHIP coverage. These changes would require a plan amendment and approval from the insurance carrier.
Employers interested in sharing this with employees should provide information about Medicaid and CHIP renewals to employees and encourage them to update their contact information with their state agency, using CMS resources available at www.medicaid.gov/unwinding. Employers can voluntarily open enrollment in their employment-based plan for those losing Medicaid or CHIP coverage.
PROPOSED RULES MAY IMPACT MHPAEA AND NQTL DATA COLLECTION
On July 25, 2023, the U.S. Departments of Treasury, Labor, and Health and Human Services (the “Departments”) issued a comprehensive set of guidelines to help employers comply with the requirements of the Mental Health Parity and Addiction Equity Act (MHPAEA). The guidelines, including definitions and examples, emphasize the importance of access to mental health and substance abuse treatment, and data collection for the production of analysis reports.
A new rule focuses on networks having an adequate number of appropriate providers. Low reimbursement rates for behavioral health care providers compared to primary care providers negatively impact access to care. Plans must collect and analyze network adequacy data and provider reimbursement rates to address this issue.
The guidelines also establish specific content and delivery requirements for the non-quantitative treatment limitations (NQTL) comparative analysis and set minimum data collection standards. The Departments expressed dissatisfaction with the current state of plans compliance with the NQTL analysis requirements and aim to bridge the gap with the proposed regulations.
These regulations are still in the proposal stage, and incoming comments may lead to modifications. Employers should review the guidelines with their brokers, paying particular attention to their network providers, as access to mental health and substance abuse disorder care is a top priority.
QUESTION OF THE MONTH
Q: My staff count has been fluctuating around 50 for some time. How do I know if or when I need to offer health insurance to my employees?
A: Whether an employer is an applicable large employer (ALE) is determined each calendar year, and generally depends on the average size of an employer’s workforce during the prior year.
If an employer has fewer than 50 full-time employees, including full-time equivalent employees, on average during the prior year, the employer is not an ALE for the current calendar year and therefore not subject to the employer shared responsibility provisions or the reporting provisions for the current year.
If an employer has at least 50 full-time employees, including full-time equivalent employees, on average during the prior year, the employer is an ALE for the current calendar year, and is therefore subject to the employer shared responsibility provisions and the reporting provisions.
| This information is general in nature and provided for educational purposes only. It is not intended to provide legal advice. You should not act on this information without consulting legal counsel or other knowledgeable advisors. |
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©2023 United Benefit Advisors |
