Category: Employee Benefits

The Ozempic Era: What Are Weight Loss Medications? Could They Be Right For You?

Are you trying to lose weight but can’t seem to shed the pounds? You are not alone. This is a common frustration for millions of people who are trying to diet and exercise. In fact, one 2022 study estimated that 52% of the world’s adults are trying to lose weight.

This struggle often leads people to explore additional options, including weight loss medications like Ozempic or Wegovy.

These medications have soared in popularity recently due to their success in aiding weight loss. And it’s true. They can be powerful tools to help battle this problem.

One study showed that taking weight loss medications for a year can help reduce total body weight by 3% to 12% more than lifestyle changes alone.

But they aren’t for everyone. Understanding how they work and what types are available is important to make an informed decision.

This article discusses the different types of weight loss medications and how they operate. We will also discuss the effectiveness, side effects, and risks associated with these medications to ensure you are taking them safely and to make a right decision for you.

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ERISA Lawsuit Alleges Mismanagement of Prescription Drug Benefits

A recently filed lawsuit against Johnson and Johnson (J&J) alleges that the company breached its fiduciary duties under ERISA by mismanaging its prescription drug benefits plan and …Continue Reading

Using Data to Think Strategically About Health Benefits

For many middle-market companies, health insurance plan years begin either December 1 or January 1.  This means that many employers will soon be gearing up for renewals and shift their focus to guiding their employees through the open enrollment process.

Annual health plan renewals and open enrollments often bring up many questions for employers and employees alike:

• Does the health plan provide good value?
• Are the benefits offered competitive in today’s market?
• Are there sufficient options offered?
• Are employees carrying the right amount of the plan cost?

While decisions for 2024 plans have likely already been made, it is never too early to start thinking strategically about your employee benefits program and to consider how your offerings compare to those of peer organizations. By leveraging benchmarking data, you can make informed decisions about your employer-sponsored healthcare benefits strategy, plan ahead for future years and confidently answer the questions that may arise.  Continue reading

2024 Health Plan Renewal Perspective

As we have reached the year’s midpoint, employers are increasingly focusing on their upcoming 2024 health plan renewals. Numerous factors contribute to the renewal rates and overall costs of health plans, and this year, employers may experience higher premiums than in the recent past due to ongoing COVID-19-related impacts and general inflation, among other factors. Employers may also consider changing their health plan’s carrier or administrator, weighing the potential cost savings against the impact it might have on their employees. Continue reading

Investment in Employee Well-Being

Employers have a vested interest in the overall well-being of their employees. A happy and healthy workforce increases productivity, reduces absenteeism, improves retention and lowers total benefit costs. There are several ways employers can invest in employee well-being. Employers can focus on one or more of the four pillars of well-being: physical, mental, financial and social, or they can take a more comprehensive approach.  Continue reading