Author: jhyman@jeffhyman.net

Sharing gratitude is easy. In fact, it takes little effort, but it may change the day of the person you show appreciation to and inspire them to share the same with others.

https://www.linkedin.com/posts/jeff-hyman-providingsolutions_gratitude-humanresources-management-activity-7266895856052625408-lovj?utm_source=share&utm_medium=member_desktop

In 2024, coverage for obesity drugs increased to 44% among employers with 500 or more workers, compared to 41% last year, the survey found.

Dive Brief:

• The average cost of employer-sponsored health insurance climbed to $16,501 per employee in 2024, up 5% from the previous year, according to results from Mercer’s 2024 National Survey of Employer-Sponsored Health Plans released Wednesday. Employers expect it to climb another 6% in 2025, Mercer said. 
• That increase is partially driven by prescription drug cost, which is the fastest-growing cost segment, according to a news release. Pharmacy benefit cost increased 7.7% this year, after rising 8.4% in 2023, propelled by greater use of GLP-1 drugs for diabetes and weight loss, the survey of 2,194 employers found.
• GLP-1s are nearly universally covered for diabetes but not yet for obesity treatment, although that share is growing. In 2024, coverage for obesity drugs increased to 44% among employers with 500 or more workers, compared to 41% last year, and 64% among the largest companies, up from 56% the previous year, according to the release.

Dive Insight:

“Employers doubled down on strategies to manage cost growth while finding ways to improve key benefits to support employees and their families in 2024, including expanded coverage for GLP-1 medications and fertility treatments,” Ed Lehman, Mercer’s U.S. health leader, said in a statement. 

Tracy Watts, Mercer’s national leader for U.S. health policy, said GLP-1s could “turn the tide on the obesity epidemic and positively impact downstream medical costs.”

“Cost is clearly a concern, and employers are adding authorization requirements to ensure the medications are used by members who will benefit the most,” Watts said.

Drug prices are among the biggest threats to healthcare affordability, according to 99% of the nearly 190 employers surveyed recently by the National Alliance of Healthcare Purchaser Coalitions. 

In the NAHPC survey, about 46% of employers said they cover GLP-1s for obesity, and another 21% said they are debating doing so in the next three years. Of those companies either offering or considering GLP-1 coverage for obesity treatment, many said they might take steps to manage costs, such as limiting access to those with chronic conditions or a certain body mass index.

https://www.healthcaredive.com/news/glp-1-drug-coverage-for-obesity-increasing/733596/?utm_source=Sailthru&utm_medium=email&utm_campaign=Issue:%202024-11-22%20Healthcare%20Dive%20%5Bissue:68130%5D&utm_term=Healthcare%20Dive

Open enrollment is coming to an end soon. With that in mind, employees with an accident, critical illness, or hospital indemnity plan must ensure they file any wellness benefits they may have qualified for. Wellness benefits are often not filed, although the employee most likely had a qualifying event in that calendar year.

I recently completed a survey of wellness claims filed in 2024 for over 1,175,326 employees. Each participating employer requested their wellness claims data from their supplemental carrier for my review. You may click on the Wellness Benefits Stats Link to see my findings.

There are several reasons why an employee might not file for their wellness claim benefit, even if it’s available through their accident, critical illness, or hospital indemnity policy:

1. Lack of Awareness: Employees might be unaware of the benefits or how to file a claim.
2. Complex Process: Filing a claim might be perceived as too complicated or time-consuming.
3. Fear of Repercussions: Some employees might fear negative consequences, such as being seen as less reliable or facing discrimination.
4. Privacy Concerns: Employees might be concerned about their medical information being shared or not being kept confidential.
5. Distrust in the System: There might be a lack of trust in the insurance provider or the company’s benefits administration.
6. Financial Concerns: Employees might worry about potential out-of-pocket costs or how filing a claim might affect their premiums.
7. Cultural Stigma: There can be a stigma associated with seeking help for mental health or wellness issues, which might deter employees from filing claims.
8. Addressing these barriers through clear communication, simplifying the claims process, ensuring confidentiality, and fostering a supportive culture can help increase the utilization of wellness benefits.

By American Heart Association

May 1, 2024

Are you bringing home more from your job than just a paycheck? A 2023 study from the American Heart Association reported that burnout — chronic, unmanaged workplace stress — is on the rise, with 4 in 5 employees (82%) at least sometimes feeling burned out in their role.

Burnout can lead to exhaustion, disengagement, negativity and reduced performance, with a study from Gallup estimating employee disengagement costs U.S. companies approximately $1.9 trillion in lost productivity.

“For 100 years, the American Heart Association has been a relentless force for longer, healthier lives, where people live, work and play. In a 2021 scientific statement, the Association noted that mental health plays an important role in overall health and well-being and that positive mental health can decrease risks for cardiovascular disease,” said Eduardo Sanchez, M.D., M.P.H., FAAFP, the Association’s chief medical officer for prevention. “Mental Health Month in May is an opportunity to shine a light on the role work plays in the nation’s mental well-being and how business leaders can make intentional, science-based changes to keep their workforce healthy and their businesses thriving.”

The impact of burnout

Stress is normal, and in some cases can even play a positive role by increasing motivation and spurring productivity. But, when stress becomes chronic, it can have negative consequences for both employees and companies.

Negative workplace experiences can lead to an increased risk for conditions such as heart disease, high blood pressure and stroke, with the combined effect of workplace stressors on the body being akin to the dangers of secondhand smoke. And no one is immune — even CEOs experience the consequences of stress and burnout.

Traditional employer approaches to burnout prevention have emphasized the role of individual self-care through the introduction of programs like mindfulness coaching, meditation apps, and time management training. While necessary, these efforts alone are not enough to move the needle. Making the workplace a vehicle for positive mental well-being requires a comprehensive approach, including implementing workplace policies and building a safe, supportive organizational culture.

“By making intentional changes rooted in science and centered on the employee and their experiences, organizations can make a real and lasting impact on the well-being of their workforce,” said Sanchez.

Getting to the root of burnout

The American Heart Association surveyed over 5,000 employees in the U.S. to examine what experiences are most associated with burnout and how some of these factors can be mitigated through workplace policy and culture.

The theme? People are feeling disconnected.

From a lack of recognition to limited autonomy and misalignment of values, employees are struggling to find fulfillment in their work, which, according to a Gallup report, can lead to low productivity, high turnover, and greater absenteeism.

Preventing burnout starts with connection

The Association’s survey results illuminated nine emerging practices across three domains that can help reduce burnout and increase workplace well-being by as much as 40%.

1. Connection to the organization: Ensure employees feel confident in their role and understand how their contributions support the organization’s overall success. Approaches to consider:

• Define clear roles and responsibilities
• Regularly assess employee workloads
• Promote employee resource groups to help build connections and foster belonging across the organization

2. Connection to their role: Tailoring roles to each employee’s unique skillset and allowing room for growth helps employees feel trusted and supported. Approaches to consider:

• Regularly assess alignment between an employee’s skillset and their assigned tasks
• Allow employees to provide input in their job design, where practical
• Offer a training path to help employees develop in their skills, leadership and overall career

3. Connection to their well-being: A healthy workforce is an effective workforce. Prioritizing employee well-being as a strategic business imperative ensures that everyone is supported to reach their full health potential. Approaches to consider:

• Implement a policy to promote overall employee health and well-being
• Ask employees regularly if they feel supported in their health and well-being
• Foster a culture of rest and recovery by encouraging employees to unplug outside of their regular work hours

• “Even incremental progress makes a difference. The implementation of just one of these practices resulted in improved workplace well-being and left employees feeling more satisfied with their benefits, more positive about their current role and responsibilities, and more supported by their manager,” said Sanchez. “By prioritizing comprehensive employee well-being — mind, heart and body — employers can help build a healthier workforce, thriving businesses and vibrant communities.”

• Organizations can see how their current well-being strategy aligns with the American Heart Association’s science-backed recommended practices by completing the Well-being Works Better™ Scorecard.

• The American Heart Association is a relentless force for a world of longer, healthier lives. We are dedicated to ensuring equitable health in all communities. Through collaboration with numerous organizations powered by millions of volunteers, we fund innovative research, advocate for public health, and share lifesaving resources. The Dallas-based organization has been a leading source of health information for a century. During 2024 — our centennial year — we celebrate our rich 100-year history and accomplishments. As we forge ahead into our second century of bold discovery and impact our vision is to advance health and hope for everyone, everywhere. Connect with us on heart.org, Facebook, X or by calling 800-AHA-USA1.   

Met Life Q1 24 Earnings

GROUP BENEFITS Segment

Adjusted earnings $284 down (7)%

Adjusted premiums, fees, and other revenues $6,330

Sales were up 25 percent, driven by strong growth across both core and voluntary products.

Click to access MET_1Q24_Earnings_Release-FINAL.pdf

#leadershipmatters #management #ceo #cfo #business #hr #humanresources #managementconsulting #strategy #strategytoexecution #shrm #benefitspro #leadership

Prudential Financial, Inc. Announces First Quarter 2024 Results
Net income attributable to Prudential Financial, Inc. of $1.138 billion versus net income of $1.462 billion for the year-ago quarter.

Group Insurance:
• Reported adjusted operating income of $45 million in the current quarter, compared to $25 million in the year-ago quarter.

This increase primarily reflects more favorable underwriting results in group life and higher net investment spread results, partially offset by higher
expenses.
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Humana warns of tough times ahead for Medicare Advantage

https://lnkd.in/e-PuXSCb

Humana Reports First Quarter 2024 Financial Results; $741 million in net income on $29,611 billion in revenues.
HUM stock closes at $320.54, down from $470.10 on 1/2/24 and a 52-week high of $541.21.
Humana’s market cap has fallen from $57.874 b on 1/2/24 to $38.625 b today
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https://lnkd.in/eMuv6Cdu

The Hartford Announces Strong First Quarter 2024 Financial Performance with $748 m in net income.

Group Benefits
Net income of $108 million in the first quarter of 2024, up from $92 million in Q1 23

chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://ir.thehartford.com/files/doc_financials/2024/q1/First-Quarter-2024-Results-Final.pdf

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Unum reports $395 million in net income for Q1 2024

https://investors.unum.com/news-events/news/news-details/2024/Unum-Group-Reports-First-Quarter-2024-Results/default.aspx

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Aflac Incorporated announced its first-quarter results, reporting net earnings of $1.9 billion and declaring a second-quarter cash dividend.

https://s24.q4cdn.com/367535798/files/doc_financials/2024/q1/1Q24-Max-s-Teleconference-Presentation.pdf

hashtag#Aflac hashtag#ceo hashtag#managemen hashtag#leadershipmatters hashtag#business hashtag#hr hashtag#humanresources hashtag#managementconsulting hashtag#strategy hashtag#cfo hashtag#strategytoexecution hashtag#shrm hashtag#benefitspro hashtag#leadership