Nixon Benefits’ Post

Many organizations are looking for new ways to reshape their strategies to create a meaningful impact for both their employees and their bottom line. The International Foundation of Employee Benefit Plans (IFEBP) found that employers are projecting an average 7% hike, up from an average 6% increase in 2023 for health care costs in 2024.   Read more on how a reference-based pricing strategy works to curb this trend in our latest blog. https://bit.ly/3WixMEg #powerthroughpartnership

At Nixon Benefits, we are revolutionizing #employeebenefits and health management by offering transparent and untethered market practices resulting in lower costs, enhanced benefits and concierge-level service for you and your employees. #employer #HR #healthinsurance

Reducing employee benefit costs is an increasing priority for employers facing rising health care costs, in addition to continued reliance on benefits to attract and retain employees, according to a national benefits survey*. The survey showed a closing gap between those who cite attracting and retaining talent as the most important factor in benefit decisions (33%) and those who said reducing costs (29%). While talent attraction and retention topped the list in 2022 and 2023, by 2024, reducing costs was almost equally important, Lockton found. Larger employers are using programs to steer employees to higher quality, lower cost care. Among large employers, 28% are using a narrow high-performing provider network, and 40% are incentivizing employees to use a tiered network within a health plan. Half, or 51%, of large employers also provide advocacy/navigation services and 46% provide employees with price and quality data to make more informed provider decisions. Despite these strategies, the pressure to manage costs is not expected to ease in the near future. This emphasizes the need to have well thought out employee benefits plans whose goals are both to attract/retain talent but also control ever-increasing costs. That's where a good broker comes in. #employeebenefits #hr #CFO Rubicon Benefits, a division of World (Above data from The 2024 Lockton National Benefits Survey)

Small employers with 50 or fewer employees were the hardest hit by medical inflation last year. Nationwide, health plan costs rose by 6.5% in 2023, up from the previous year's 5.7% increase. The 2024 UBA Employee Benefits Benchmarking Trends Report provides employers with insights into national employee benefits trends, including health plan design and cost. Download your copy today to learn more trends and understand how to navigate the changing landscape of employee benefits. #UBAPartnerFirm #PowerfulResults #MillerCares https://hubs.li/Q02y0lMR0

We offer strategies to reduce Medicare-eligible-employee-costs for employers 💰. We improve employee satisfaction through Medicare education 📚 that shines the light on lower employee cost options and improved ⏫ health benefits off the employer's group plan. Let's partner together! 🤝 #Medicare #EmployeeBenefits #CostReduction #EmployerSolutions #HealthBenefits #EmployeeSatisfaction #MedicareEducation #HealthcareSavings #BusinessStrategy #Partnerships #WorkplaceWellness

Some good news for employers: while benefit costs continue to rise, Marsh McLennan Agency's Employee Health & Benefits Benchmarking report indicates that Midwest employers are projected to see lower than average changes in total health benefit costs compared to other areas of the country. With open enrollment underway, we're providing our findings to you free of charge, so that you can cut costs while making plan enhancements. Download now at the link. #EmployeeBenefits

Some good news for employers: while benefit costs continue to rise, Marsh McLennan Agency's Employee Health & Benefits Benchmarking report indicates that Midwest employers are projected to see lower than average changes in total health benefit costs compared to other areas of the country. With open enrollment underway, we're providing our findings to you free of charge, so that you can cut costs while making plan enhancements. Download now at the link. #EmployeeBenefits

Empower employees to make informed decisions that reduce employer spending and increase their savings by adding our health app to your or your clients' healthcare benefits. #HRStrategy #EmployeeWellbeing #FutureOfWork #HRCommunity #HRTech #HR #InsuranceBroker #HealthInsurance #BusinessInsurance #InsuranceTech

I have been speaking with my community on our newly released Benefits Trends Report: The Evolving Workforce This comprehensive report delves into the latest trends shaping the employee benefits landscape. It provides valuable insights to help you stay ahead of the curve. Our report highlights four key trends for employers to consider when developing their benefits strategy for 2024:    1️⃣ Four generations, one workforce 2️⃣ Better benefits, better talent 3️⃣ Whole-person health 4️⃣ Health care costs Stay tuned for a more depth discussion on each of these trends.  #CEO #CFO #HR #humanresources #employeebenefits #healthinsurance #medicalinsurance #workhardmakeithappen

Tune in to our panel discussion where our experts delve into how the Blue Zones can be utilized to bolster employer initiatives aimed at improving employee well-being and managing healthcare expenses. #BlueZones #EmployeeHealth #HealthcareCosts #employeebenefits #benefits #hr #humanresource #humanresources #insurance#aleragroup #CFO #CFOinsights #CHRO