Employers seeking to better manage health care costs and benefits are increasingly turning from centralized employer control toward employee engagement and ownership of health insurance and employee benefits. This is according to an annual bswift Benefits Study that identifies trends on how employers are using wellness initiatives, consumerism, and technology to shift health benefits from the employer to employee.
As employers are shifting their health benefits strategies, employee satisfaction is at an all-time. And, 60% of employees would contribute more to their health benefits to have choice and personalization.
Group insurance worked well in the past when employees stayed with companies for a whole career, and when there were not costly medical procedures driving up the cost of health care. That's not the case anymore. Today, many employers are saying goodbye to group insurance and looking for alternative ways to offer employees health insurance coverage.
Small business owners know that offering a health benefits package boosts efforts to attract and retain talented employees. And while health benefits are an important safety net for small businesses and employees, the cost and administrative efforts can be overwhelming. This is especially true now, in the midst of numerous health care reform changes.
This week, Fortune 500 retailer Target announced it would no longer provide health insurance for part-time employees as of April 1st. Instead, Target will provide $500 to those losing coverage and provide assistance in signing up for a new ObamaCare plan. For the majority of these part-time employees, this is really good news. Here's why.
Disclaimer: The information provided on this website is general in nature and does not apply to any specific U.S. state except where noted. Health insurance regulations differ in each state. See a licensed agent for detailed information on your state. Zane Benefits, Inc. does not sell health insurance.