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

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)

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

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

🚨 Did You Know? 45% of Employees Forget About Their Benefits 🚨 📊 Our recent survey revealed a key issue: nearly half of employees forget they even have benefits, leading to underutilization and missed opportunities to get the most value out of their policies. This isn’t just a problem for employees—it affects the overall impact of supplemental health products. 💡 One way to tackle this: Implementing solutions like Nayya Claims can help. By integrating medical claims and automating the identification of eligible benefits, Nayya Claims simplifies the process for employees and increases their engagement with their benefits. This streamlined approach not only enhances the employee experience but also helps carriers address the challenge of underutilization. Want to see how it works? Check out a demo of Nayya Claims here and learn how it can improve both employee engagement and benefits utilization: https://lnkd.in/gtBzehys #EmployeeBenefits #HealthInsurance #SupplementalHealth #Claims #HR #BenefitsTech #Nayya

Get the MetLife Annual Employee Benefit Trends Study to learn about the top benefit trends impacting the workforce. Contact us today to develop tailored benefits solutions for your clients https://ow.ly/652V50RmO7i #healthcare #healthinsurance #healthcoverage #employeebenefits

Does your benefits program cover a whole health approach to employee well-being? The traditional approach to employee benefits, which often emphasizes only physical health and basic financial incentives, no longer meets the diverse needs of the modern workforce. Forward-thinking companies are adopting a more comprehensive approach known as a whole health benefits strategy. Read our latest blog that covers the steps you can take to implement a whole health strategy to support your employees in all aspects of their lives. 👉 https://lnkd.in/ev5chpz9 #employeebenefits #healthinsurance #businessowner #businessowners #businessownerlife #humanresources #hr #hrgeneralist #hrcommunity #benefitsstrategy #benefitsadministration #benefitstrends #groupbenefits