Employee Benefits Benchmarking

2021 Mid-Market Employee Benefits Benchmarking Survey Results

In today’s volatile and extremely competitive talent market, it is important to make sure your employee benefits offerings are an asset to your organization – helping you attract and retain employees.  According to Microsoft’s 2021 Work Trend Index, a global survey of over 30,000 people in 31 countries, more than 40% of people are considering leaving their employer this year. The percentage increases to 54% when looking at Gen Z workers alone.  Most employers are having to take a more critical look at many cultural factors, including employee benefits, to ensure their human capital management strategy is ready for what’s next.

Given this landscape, it is more critical than ever for employers to understand how their benefits plans compare to peer organizations.  Utilizing benchmarking data, you can make informed decisions about your employer-sponsored healthcare benefits strategy and potentially uncover opportunities for improvement amidst the chaos.  Continue reading

President Biden to Mandate COVID-19 Vaccine for Federal Employees and Large Employers

On Thursday, Sept. 9, 2021, President Joe Biden signed executive orders requiring federal workers and contractors to get vaccinated against COVID-19. Biden also directed the Occupational Safety and Health Administration (OSHA) to draft a new emergency rule requiring all businesses with 100 or more employees to ensure all of their workers are either tested for COVID-19 once a week or fully vaccinated.

The OSHA emergency rule—which is expected in the coming weeks—could affect as many as 80 million Americans. It will reportedly require large employers to provide their workers with paid time off to get vaccinated and recover from any vaccination-related side effects. Companies that fail to comply may be subject to up to $14,000 in fines per employee.

Read the full news brief hereContinue reading

Are Surcharges an Option for Unvaccinated Employees?

With the recent FDA approval of the Pfizer COVID-19 vaccine, more companies have announced plans to mandate the vaccine. However, given today’s extremely competitive labor market, some organizations believe a vaccine mandate would further hinder their ability to hire and retain employees.  Would imposing a surcharge on health plan premiums for unvaccinated employees be an alternative solution? Before exploring this option, employers need to know the percentage of employees on their health plan to determine the impact.    Continue reading

CashBackHealth: A New Cost Savings Solution to Drive High-Quality Health Care

The Scott Benefit Services team is excited to announce the launch of a new solution to help employers positively impact costs and drive better health care consumerism by individuals.

CashBackHealth, powered by Garner Health, helps employers empower their employees with the information and tools to find the highest quality medical care available. As a simple addition to an existing employer-sponsored health plan, CashBackHealth drives more care to the highest quality providers in the local community, ultimately generating significant savings and better health outcomes for employers and employees.  Continue reading

Captive Insurance for ESOP Companies

Chad Duke, Vice President/Risk Advisor, and Pim Jager, Vice President/Benefits Consultant, were recently featured on the ESOP Podcast discussing captive insurance and Scott Insurance’s collaboration with the National Center for Employee Ownership (NCEO) to create two new captive programs exclusively for ESOP companies, OWN Health (health insurance) and OWN Risk (property and casualty).  Continue reading