HR Professionals Magazine October 2014

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October Issue Highlights


 

In the Spotlight: Susan Simmons, SPHR

Hot Topics

Fall Benefits Enrollment Season Confusing 

(September 29, 2014) According to a recent survey by Accenture, about 3 million people currently get their employer-provided health benefits through a private exchange. That figure is expected to grow to 9 million in 2015 and 40 million by 2018. More employers will be offering consumer-driven health plans, and more will be enrolling in a private exchanges. Mercer consultancy recently reported 39% of large employers offer a CDHP, and 64% expect to do so by 2016.

The excise tax, known as the “Cadillac Tax,” is driving employer decisions tor the 2015 enrollment season. The tax will require employers to pay a 40% levy based on the value of their more expensive health plans by 2018. According to healthcare experts, the private exchanges have the greatest potential to reduce health plan costs and help employers avoid the excise tax.

Here are some suggestions for a successful open enrollment campaign:

• Promote voluntary benefits to help reduce high out-of-pocket expenses for your CDHP plan.

• Promote your wellness program and consider increasing premiums for those who do not participate in your healthcare assessment program.

• Ensure there are benefits counselors on hand to assist employees with good decision making.

• Use mobile technology and social media to support your communication plan.

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HR Professionals Magazine is an exciting monthly trade publication designed to educate and inform HR professionals in every discipline of the Human Resources function. We cover current hot topics on employment law, staffing and recruiting, compensation and benefits, employee relations, diversity, ethics, business leadership, relocation, employee training and development, payroll, and HR technology. Employment law will not only focus on federal legislation, but also on state and local regulations for Tennessee, Arkansas, and Mississippi.  Articles are detailed and comprehensive written by local HR specialists, educators, and attorneys who are highly regarded as experts in their respective fields.


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