Your midterm election primer
Employee Benefit News
The leading information resource for the ever-changing HR and Benefits marketplace.
Today is #electionday! The EBN team has been covering what the outcome of the midterm elections could mean for your business, and your employees. See all of our recent coverage right here. And don't forget to #vote!
STUDENT LOANS: President Joe Biden's student loan forgiveness plan promises to cancel a collective sum of $400 billion of debt nationwide. But will his administration be able to deliver on its promises? Biden's plan is currently paused as the 8th U.S. Circuit Court of Appeals looks at lawsuits introduced by six conservative states: Arkansas, Iowa, Kansas, Missouri, Nebraska and South Carolina. These states are claiming that student loan forgiveness would harm their tax revenue or state-based loan agencies. While some lawsuits have already been dismissed, the question of legality is still being weighed.
But borrowers shouldn't lose hope — or stop applying for forgiveness, says Aaron Smith, co-founder of Savi , a student loan management company. "This is going to help a majority of student loan borrowers, so we encourage people to check out the online form and apply," he says. Catch up on where loan forgiveness currently stands:
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HEALTHCARE: With healthcare prices expected to rise in 2023, many employers are looking for ways to cut costs — and emergency room visits may just be the key. Nearly 70% of ER visits are not considered emergencies, according to a 2019 UnitedHealth Group report. And given that the average ER visit costs over $2,000, Americans lose approximately $47 billion a year seeking care in the wrong place. But despite the costs, this trend persists, hurting employers and employees.
Radish Health is an employer-provided benefit dedicated to primary care and healthcare navigation, with one of its missions being to decrease the number of unnecessary ER visits employers see in a year. "We are on a mission to create the experience of having a doctor in the family," says Dr. Viral Patel, founder and CEO. Here's how his platform is providing that level of service to their clients:
DEI: An estimated 80% of those who are neurodiverse are unemployed, according to the Harvard Business Review. Conditions like autism, ADHD, dyspraxia and dyslexia all fall under neurodiversity, denoting different ways of thinking, learning, processing and behaving. But it seems employers are still equating different with "bad," says Martin McKay, founder and CEO of Texthelp , a company that provides organizations with inclusive communication tools.
"There is a long history of negative stigma around neurodiversity," says McKay. "Years ago many employers mistook neurological differences as a sign of low intelligence, carelessness or lack of ability. Today, many organizations now understand that this isn't the case. However, we've still got a long way to go to reduce the impact of these negative misconceptions."