Featuring authors from across our organization on various topics related to risk management and employee benefits, our blog is a great resource to help you stay informed.

Our Scott thought leaders provide content on a regular basis to elevate your thinking surrounding critical components of your company’s culture and overall performance.

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

Affordable Housing’s Pull Cord Problem and the Unintended Insurance Ramifications

The affordable housing community, specifically HUD Section 202 for elderly housing, is experiencing an avoidable crisis. This crisis originates from the expanded scope of service and responsibility placed upon affordable housing organizations by the U.S. Department of Housing and Urban Development (HUD). HUD Section 202 for elderly subsidized housing specifically states that the program provides options to allow seniors to age in their community by providing independent elderly living in an environment that offers support for community-based services, such as cleaning, cooking, and transportation (Perl, 2010). Yet HUD’s most recent Minimum Property Standards for Multifamily Housing handbook states that all elderly multifamily communities must install call-for-aid systems (HUD, 1994). Therefore, the requirement for continuous call-for-aid systems, such as pull cords, forces affordable housing owners and operators to engage in the practice of nonstop-24/7-resident monitoring. In our highly litigious society, the requirement for continual resident monitoring represents a significant liability for potential future legal action. Insurance companies have taken notice of this potential liability and have responded with action.  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