by admin | May 23, 2022 | Health & Wellness
Mental health and wellness in HR are becoming top priorities for employers. In fact, HR leaders named mental health and wellbeing as their third biggest problem, behind the labor shortage and retaining talent, in the latest HR Exchange Network State of HR report. In addition, those surveyed also said burnout was the top consequence of the pandemic. “Blurring of work and personal life” and “burnout” tied, with 28% of the vote each, as the biggest challenges to employee engagement. And 30% of respondents said employee engagement and experience was their top priority.
Clearly, mental health and wellness is related to the employee experience, and the expectations in the new normal require HR leaders to provide support, empathy, and guidance for helping those who need it. To begin, they need to understand the nuances of mental health and wellness.
Defining Mental Health and Wellness
A first step for HR leaders is to breakdown mental health and wellness to understand the differences, so they can best address “mental health” and “wellness.”
What Is Mental Health?
The U.S. government defines mental health as the emotional, psychological, and social wellbeing of an individual. Obviously, one’s mental health contributes to how he thinks, feels, and acts, and it relates to his resiliency and relationships with others.
Considering this definition, HR leaders can focus on insurance that covers mental health conditions and connecting people to appropriate specialists just as they would for employees with physical ailments, for example. Tending to mental health needs is slightly different than those of wellness.
What Is Wellness?
On the other hand, wellness refers to the totality of health – both mental and physical – of an employee, according to the Society for Human Resource Management. When employers focus on wellness, they are aiming to provide employees with preventative solutions to avoid illnesses and long-term health problems. For example, gym memberships, yoga classes, and meditation sessions are among the ways HR leaders may support the wellness of workers.
Mental health refers to the condition of an employee’s state of mind, whereas wellness refers to his or her general health. Sometimes, even those in HR use the word wellbeing interchangeably with wellness, but there is a distinction. Wellbeing refers to job satisfaction or one’s contentment at work. Certainly, wellbeing is related to mental health and wellness. If employees are experiencing anxiety, high stress, or burnout, which are associated with both mental health and wellness, they may experience negative feelings at work. Therefore, their wellbeing also will be at risk.
HR’s Responsibility for Mental Health and Wellness
The pandemic revealed the need for mental health and wellness programs at workplaces. Both mind and body needed soothing, and HR professionals took the lead in providing solutions to workers. More than two years after the start of the pandemic, they are continuing to enhance their offerings.
Here are some relevant benefits that employers may provide, and HR leaders can consider:
Medical Insurance that Covers Mental Health
This first benefit is the most obvious one, and it refers to the employer choosing insurance options that cover mental health as robustly as they do physical health.
Employee Assistance Programs (EAP)
The U.S. government defines an EAP as a “voluntary, work-based program that offers free and confidential assessments, short-term counseling, referrals, and follow-up services to employees who have personal and/or work-related problems.” These programs may address stress, substance abuse, or family discord, for example.
Mental Health First Aiders
This is a professional who works on staff or on call for a business, so employees always have someone to support them with any mental health concerns, according to verywellhealth.
Training for Managers, Leaders, and Peers
Some companies are training their teams to recognize potential mental health issues in their colleagues and to develop empathy and emotional IQ.
Yoga, Meditation, Workshops, Zen Rooms, etc.
These are a few examples of programs designed to help employees relieve stress and stay focused.
Mental Health Days
Some companies are including mental health days in their paid time off menu. This allows people the chance to stay home as they would for a sick day.
Parameters around Work Hours/Flexibility/Respecting People’s Time
Many employers are sharing guidelines about allowing employees flexibility around when and where they work or during what hours they can communicate with them about work, etc. The idea is to help people better balance work and life to give them the time and space necessary to recharge.
Why Should HR Leaders Care about Mental Health and Wellness?
The answer about why any leader should care about employees’ wellness seems obvious. It’s the right thing to do. But it also relates to business outcomes. Poor mental health and wellness among employees can pose grave risks to an employer. These are the threats:
- Decreased Productivity – People are not as interested in getting the job done if they’re dealing with mental health issues.
- Resignation – Mental health and wellness is clearly connected to job satisfaction and wellbeing. People might quit if they are suffering.
- Negative Impact on the Bottom Line – If employees are not productive or engaged, the company will not be as successful. If there is much turnover, the company will lose money in recruiting, hiring, training, and patiently waiting for new hires to get up to speed. All these consequences can influence revenue and business outcomes.
How Work Can Affect Employee Wellness
Employees spend a large amount of time working. Toxic workplaces obviously can damage one’s mental state, whereas a psychologically safe environment can motivate people. Anyone experiencing bullying or harassment at work may feel more anxiety or stress. That’s undoubtedly true. But having heavy workloads, tight deadlines, and other stressful personal situations can lead to burnout. Potentially, these factors cut into the psychological contract between employee and employer. This is concerning to HR leaders.
The Mayo Clinic says job burnout is a type of work-related stress that results in a state of physical or emotional exhaustion that can influence an employee’s self-worth and sense of identity. The pandemic and consequential labor shortage put burnout in the spotlight and forced employers to confront it. Now, HR leaders are working to combat and prevent burnout as part of their overall mental health and wellness strategies.
Taking steps to reduce hours and workloads, managing expectations, and training managers to be better, more empathetic leaders are among the ways they are addressing the problem. HR Exchange Network recognized this new obligation of Human Resources in its recent talent management report:
Companies that show they truly care about the mental health and wellness of their employees will get noticed. Those who are flexible and understanding when people are having a tough time personally will win hearts. “Companies need to switch their focus on engagement to experience. Maya Angelou said it the best, ‘People forget what you tell them. They don’t forget how you make them feel,'” says Sebastien Girard, Chief People Officer at Centura Health.
HR leaders are helming efforts to address mental health and wellness of employees. They are confronting these issues to improve employee engagement and experience and the work culture. Employers recognize the link between the mental health and wellness of their employees and the success of their business.
In addition, they realize this is the right thing to do, which is vital at a time when employer brand is of the utmost importance, and everyone is trying to better maintain work-life balance. The pandemic was the spark for employers giving attention to these issues, but the focus on helping employees maintain their mental health and wellness will continue.
By Francesca Di Meglio
Originally posted on HR Exchange Network
by admin | May 18, 2022 | Health & Wellness, Hot Topics
Competitive wages are no longer enough to satisfy and support valued employees. Today, a variety of benefits and perks play an essential role in attracting and retaining talent. Lifestyle benefits, sometimes referred to as employee perks, are non-salary benefits given to employees to improve their overall lifestyle that go above and beyond standard medical, dental and vision benefits. These lifestyle benefits are rapidly becoming the future of employee benefits.
Around 60% of employees say benefit offerings are a significant factor in their decision on whether or not to take a new job. That’s why an increasing number of employers are utilizing lifestyle benefit plans to entice high-quality applicants. In fact, studies show that 80% of employees would select more benefits above a pay increase. Moreover, younger employees, like Millennials, are more apt to change jobs than their older Baby Boomer counterparts if they are dissatisfied with the employee benefits offerings available to them.
Lifestyle benefits are benefits to enjoy now. These are meaningful services that meet the needs of employees today. Not tomorrow, next week or even ten years from now. Employees don’t have to be sick, deceased, disabled or over 65 to use them.
In this article, we will explore the 4 “W’s”—Who, What, When, and Why—of lifestyle benefits to explain how you can use this tool to improve your benefits package!
Who Are Lifestyle Benefits For?
Even companies with generous overall benefits packages can suffer from low employee engagement and productivity which can be exacerbated by the massive shift to remote work. Offering perks that are customized to your people’s unique needs is hugely beneficial for companies wanting to increase employee engagement and retention. In the increasingly competitive job market, this really sets employers apart because it demonstrates a vested interest on the part of the employer to provide opportunities for personal, as well as professional growth. Lifestyle benefits, particularly in the form of flexible perk stipends, are an ideal way to offer personalization and also promote an inclusive company culture.
What Lifestyle Benefits Can Employers Offer?
Lifestyle benefits can be customized to meet many different types of needs. For instance, an employee might be sending their child to college for the first time. If they want advisors or financial planners, a lifestyle benefits account can cover it. Or what if an employee wants to take advantage of a gym membership or health app? This could also be covered through a lifestyle benefits program. Everyone benefits from a calm, happy, and valued employee! Other examples of offerings you can include in a lifestyle benefits program include:
When Should You Offer Lifestyle Benefits?
Really the answer to the question of when you should offer lifestyle benefits is-now! Now is the right time to make the most of lifestyle benefits by setting employees up and educating them of their perks.When organizations offer lifestyle benefits, it’s about building positive, long-term relationships between executives, supervisors and employees. It’s about investment and dedication to employee well-being.
Why Provide Lifestyle Benefits at Your Company
There are so many reasons to provide lifestyle benefits but it primarily boils down to one thing: employee satisfaction. Employees want to feel valued by their employers and if this can be achieved by helping them afford the lifestyle they enjoy and envision for themselves, then do it!
We are, after all, living in the age of personalization. Everything in our lives, from our Netflix subscriptions to Spotify playlists is customized to us and our preferences. Lifestyle benefits can be designed in a way that addresses the various needs of your diverse workforce, whether that means supporting a 22-year-old recent graduate living in the city, or a 45-year-old executive with three kids in a home in the suburbs, lifestyle benefits are ideal for that type of personalization and inclusivity, especially in the form of flexible perk stipends.
If companies want the best potential candidates, they have to think outside the box with personalized benefit offerings. Everyone wins with a flexible lifestyle benefits platform. After all, physically and mentally healthy employees are more productive, which is better for the bottom line.
by admin | May 10, 2022 | Health & Wellness, Hot Topics
“Suck it up,” “cheer up,” “snap out of it,” “but you don’t look sick”- these are just some of the phrases that well-meaning friends and family tell loved ones struggling with mental health issues. Research shows that one in five adults struggle with mental health conditions. Mental health struggles include depression, bipolar disorder, anxiety, schizophrenia, and eating disorders.
Mental illness is also becoming increasingly common among teenagers; studies indicate that approximately one in five teens between ages twelve and eighteen are diagnosed with a mental health disorder. These issues deeply impact day-to-day living and may also affect the ability to relate to others. When your mental health suffers, everything in your life will suffer as a result.
What is Mental Health?
Mental health includes our emotional, psychological, and social well-being. It affects how we think, feel, and act. It also helps determine how we handle stress, relate to others, and make choices.
The fact is, a mental illness is a disorder of the brain – your body’s most important organ. Like most diseases of the body, mental illness has many causes – from genetics to other biological, environmental and social/cultural factors. And just as with most diseases, mental illnesses are no one’s fault. For many people, recovery – including having meaningful roles in social life, work and school – is possible, especially when you start treatment early and play a strong role in your own recovery process.
What Are the Warning Signs?
Each illness has its own symptoms, but common signs of mental illness can include the following:
- Avoiding friends and social activities
- Feeling excessively sad or low
- Feeling helpless or hopeless
- Extreme mood changes
- Thinking of harming yourself or others
- Inability to perform daily tasks like taking care of your kids or getting to work or school
- Feeling numb or like nothing matters
- Overuse of substances like alcohol or drugs
- Having unexplained aches and pains such as headaches or stomach aches
- Changes in sleeping habits or feeling tired and low energy
- Feeling unusually confused, forgetful, on edge, angry, upset, worried, or scared
What Are Some Things You Can Do to Look After Your Mental Health?
- Talk About Your Feelings – Just being listened to can help you feel supported and less alone. Talking with a friend or loved one is helpful but remember, therapists are not only for those in the middle of crisis – they’re incredibly beneficial for people in all stages of life
- Exercise regularly – Exercise releases endorphins, which have mood-boosting effects. Aim to exercise about 30+ minutes at least five days per week
- Eat Well – Your brain needs a mix of nutrients to stay healthy and function well, just like the other organs in your body
- Stay Connected with Family and Friends – Close, quality relationships are key for a happy, healthy life
- Take a Break – a change of scenery or pace is good for your mental health
- Get Outside to Enjoy 15 Minutes of Sunshine – Sunlight synthesizes Vitamin D which experts believe is a mood elevator
- Send a Thank You Note – Let someone know why you appreciate them. Written expressions of gratitude are linked to increased happiness
- Practice Forgiveness – People who forgive have better mental health and report being more satisfied with their lives
- Pursue Your Passions – Enjoying yourself can help beat stress and achieving something boosts your self-esteem
- Sleep – Most adults need around 8 hours of sleep each night so try to make sure you’re getting enough shut-eye
Mental health is undoubtedly just as integral as physical health but it’s something that we often don’t prioritize. We all experience times when we feel stressed or overwhelmed but if these feelings persist, it’s time to slow down and re-evaluate your mental wellbeing.
Most people are afraid to ask for help, but seeking help is actually a sign of strength, not weakness. If you or someone you know is struggling with their mental health, please reach out to a local mental health professional.
by admin | May 4, 2022 | Compliance
The Departments of Health and Human Services, Labor, and Treasury (the Departments) released Transparency in Coverage (TiC) rules in late 2020 that will require fully insured and self-funded plan sponsors of non-grandfathered group health plans to make important disclosures about in-network and out-of-network rates beginning July 1, 2022. To be ready to meet that deadline, plan sponsors should be coordinating efforts with carriers and third-party administrators (TPAs), as the case may be, to ensure they have the necessary information in the proper format to comply with the new TiC requirements.
Devil in the Details
The TiC rules originally required certain employers to provide “machine readable” files that disclose in-network rates, out-of-network charges and information relating to prescription drug coverage and costs by January 1, 2022. Last year the Departments delayed enforcement of the prescription drug coverage rules indefinitely until they issue additional guidance. However, plan sponsors should be taking steps now to ensure they can publish the required in-network negotiated rates and out-of-network allowed amounts as laid out in the TiC rules by the new July 1 deadline.
The first required file (In-Network Rate File) must show a plan’s negotiated rates for all covered items and services between the plan or carrier and all in-network providers. The second file (Allowed Amount File) will show both the historical payments to, and billed charges from, out-of-network providers. Plan sponsors must be sure this file includes at least 20 historical entries to safeguard individual privacy. The departments have indicated they will provide more specific guidance as to format and content, but so far have not released more details than what we know from the final rules.
Machine-Readable Files
The machine-readable files must include:
• For each option a group medical plan or carrier offers, the identifier for each such option. The identifier is either the insurer Health Insurance Oversight (HIOS) identifier, or if the plan or insurer does not have a HIOS number, the employer identification number (EIN).
• A billing code, which can include a Current Procedural Terminology (CPT) code, Healthcare Common Procedure Coding System (HCPCS) code, Diagnosis-related Group (DRG) code, or a National Drug Code (NDC) or any other common payer identifier. This content element also requires a plain language description for each billing code of each covered item or service.
In-Network Rate File
The In-Network Rate File must show:
• In-network rates for each item or service provided by in-network providers, including any negotiated rates, fee schedule rates used to determine cost-sharing, or derived amounts, whichever rate is applicable to the plan.
• If a rate is percentage-based, include the calculated dollar amount, or the calculated dollar amount for each National Provider Identifier (NPI) identified provider, if rates differ by providers or tiers. Bundled items and services must be identified by relevant code.
Allowed Amount File
The Allowed Amount File must show:
• Unique out-of-network allowed amounts and billed charges with respect to covered items or services, furnished by out-of-network providers during the 90-day period that begins 180 days prior to the publication date of the file.
• The plan or insurer must omit data for a particular item or service and provider when the plan or insurer would be reporting on payment of out-of-network allowed amounts for fewer than 20 different claims for payment under a single plan or coverage. These amounts must also be expressed as dollar amounts and associated with the NPI, Taxpayer Identification Number, and Place of Service Code for each network provider.
What Should You Do?
Plan sponsors will need to update the information in the required files no less frequently than monthly. This will likely require strong coordination with the carrier in an insured plan and with the TPA in a self-funded plan.
The Departments will require the files to be posted to a public website that consumers can use without providing individually identifiable information. The website should be open access and not require passwords, account setup, login credentials or any other barriers to accessing the required information.
The TiC rules recognize that a plan sponsor might not have its own public website on which it will be able to house the required files. But the rules permit plan sponsors to contract with a carrier, TPA or other third party to produce and house the information on a plan’s behalf. However, plans should be aware that they might ultimately remain responsible for any failures.
A carrier will be responsible for any failure if a plan has required it in writing to ensure a plan’s compliance. Self-funded plans can contract to have another entity provide and update required files, too, but the TiC rules do not provide the same level of protection for any failures by a third party in the self-funded context, so plans should be sure to review relevant indemnification provisions in any third-party vendor service agreement.
Many carriers and TPAs have begun reaching out to employer plan sponsors offering to assist in in providing, preparing, updating, and hosting the required files. Employers should be carefully reviewing their service agreements and related contracts to make certain they include specific provisions dealing with all aspects of the required transparency disclosures.
Conclusion
We will continue to monitor the guidance we expect to be coming soon as to certain administrative requirements regarding formatting and hosting of the required forms and provide updates as needed.
© UBA. All rights reserved.
by admin | Apr 28, 2022 | Cybersecurity
Cybersecurity is no longer an emerging risk but a clear and present one for organizations of all sizes, panelists on a panel at Triple-I’s Joint Industry Forum (JIF) said. This is due in large part to the fact that cybercriminals are increasingly thinking and behaving like businesspeople.
“We’ve seen a large increase in ransomware attacks for the sensible economic reason that they are lucrative,” said Milliman managing director Chris Beck. Cybercriminals also are becoming more sophisticated, adapting their techniques to every move insurers, insureds, and regulators make in response to the latest attack trends. “Because this is a lucrative area for cyber bad actors to be in, specialization is happening. The people behind these attacks are becoming better at their jobs.”
As a result, the challenges facing insurers and the customers are increasing and becoming more complex and costly. Cyber insurance purchase rates reflect the growing awareness of this risk, with one global insurance broker finding that the percentage of its clients who purchased this coverage rose from 26 percent in 2016 to 47 percent in 2020, the U.S. Government Accountability Office (GAO) stated in a May 2021 report.
Panel moderator Dale Porfilio, Triple-I’s chief insurance officer, asked whether cyber is even an insurable risk for the private market. Panelist Paul Miskovich, global business leader for the Pango Group, said cyber insurance has been profitable almost every year for most insurers. Most cyber risk has been managed through more controls in underwriting, changes in cybersecurity tools, and modifications in IT maintenance for employees, he said.
By 2026, projections indicate insurers will be writing $28 billion annually in gross written premium for cyber insurance, according to Miskovich. He said he believes all the pieces are in place for insurers to adapt to the challenges presented by cyber and that part of the industry’s evolution will rely on recruiting new talent.
“I think the first step is bringing more young people into the industry who are more facile with technology,” he said. “Where insurance companies can’t move fast enough, we need partnerships with managing general agents, with technology and data analytics, who are going to bring in data and new information.”
“Reinsurers are in the game,” said Catherine Mulligan, Aon’s global head of cyber, stressing that reinsurers have been doing a lot of work to advance their understanding of cyber issues. “The attack vectors have largely remained unchanged over the last few years, and that’s good news because underwriters can pay more attention to those particular exposures and can close that gap in cybersecurity.”
Mulligan said reinsurers are committed to the cyber insurance space and believe it is insurable. “Let’s just keep refining our understanding of the risk,” she said.
When thinking about the future, Milliman’s Beck stressed the importance of understanding the business-driven logic of the cybercriminals.
If, for example, “insurance contracts will not pay if the insured pays the ransom, the logic for the bad actor is, ‘I need to come up with a ransom schema that I’m still making money’,” but the insured can still pay without using the insurance contract.
This could lead to a scenario in which the ransom demands become smaller, but the frequency of attacks increases. Under such circumstances, insurers might have to respond to demand for a new kind of product.
Originally posted on Insurance Information Institute
