“As Human Resource (HR) and Risk Management (RM) professionals struggle to manage employee absence, the discussion quickly shifts to outcomes, return to work, savings and return on investment. While all very important topics, those measures include a very important data point that is sometimes overlooked – a sick, disabled employee.”
This powerful statement comes from the opening segment of a new article co-authored by Spring Partner Teri Weber along with Jennifer Kurtz and Jennifer Nash-Wright, both of Behavioral Medical Interventions. In the piece, titled “Behavioral Health Claims: Finding the Right Referral,” the three experts detail both peer reviews and independent medical exams (IMEs) and how to identify which referral is appropriate when.
To download this very informative piece, please click on the link below. Of course, if you have any follow-up questions to the advice offered in this piece, please do not hesitate to contact our team. And we will be happy to assist.
For many organizations, Risk Management and Human Resources (HR) operate independently with little to no interaction. Each department manages separate lines of insurance with both working towards similar goals; trying to reduce the cost of insurance while providing the greatest coverage for employees and the organization.
Companies for some time now have reduced the costs of their Property & Casualty (P&C) risks by utilizing a captive. Today, this alternative risk transfer technique is also available and utilized for funding employee benefits.
With the ongoing and constant rise in cost for employee benefits including healthcare, life insurance, disability and retiree medical benefits; captives are emerging as an attractive option to controlling those costs.
The HR department historically is the one that manages employee benefits including intricacies of plan design, regulations and mandates. With companies expanding their captive’s use to fund employee benefits, it is imperative the Risk Managers have a tool to understand how they can work with their HR colleagues to successfully fund employee benefit programs through a captive.
Spring’s Funding Employee Benefits in a Captive – A Risk Managers Guide outlines the advantages to funding employee benefits in a captive arrangement and provides guidelines on how to structure this type of program.
Companies who choose to fund their employee benefits through a captive have benefited from the following:
-Reduced and guaranteed premiums for insurance coverage
-Reduced risk and fronting changes associated with the plans
-Custom employee benefit plan designs that are not traditionally offered in the commercial marketplace
Given this environment, Risk Managers are now exploring the option of increasing their captive’s capabilities and funding their employee benefits programs.
If you wish to receive a complimentary copy of Spring’s Funding Employee Benefits in a Captive – A Risk Managers Guide, please fill out the form below and click download.
Learn How Self-Funding Employee Health Insurance Can Save Your Business Money
Amid the concern and confusion surrounding the Affordable Care Act (ACA), one thing is clear: health insurance funding will never be the same. Many employers are already seeing higher health insurance costs and even more are bracing themselves for the possibility of a steep increase heading into 2015.
Employers are facing the tough decisions of paying more for health coverage, passing additional costs along to employees, or eliminating coverage all together. Clearly, terminating health insurance isn’t the preferred or even practical solution for most employers. Quality benefit packages are a key element of attracting and retaining top talent. Because of this, businesses everywhere are looking for ways to offset cost increases by being creative and efficient.
One way a business can efficiently fund health benefits is by self-funding. By assuming part or all of the risk of employees’ health care costs, employers stand to achieve savings of 5-15% from self-insuring.
Our latest white paper “Self-Funding and the Management of Risk,” discusses the benefits, considerations and details of self-funding employee health insurance.
To download your free copy of this informative guide, please fill out the form below and click submit. You will then have access to the white paper.
Our latest Spring white paper, Managing an Absent Workforce: A Guide to the Family Medical Leave Act, will allow you to take a pulse on your existing program.
This book pinpoints some of the tactical items where employers could tighten their reigns including counting time, use of paid time, recertification processes, fit for duty and specific areas of interests for employers.
The guide also seeks to remind Human Resource professionals that processes related to FMLA need to be continually reviewed as other plans evolve to make sure they are still appropriate and compliant.
Please fill out the form below to download this helpful FMLA white paper.
Spring Consulting Group recently teamed up with Reed Group to conduct our first annual Survey of Employer Practices Related to the Americans with Disabilities Act to gather insights regarding the Americans with Disabilities Act (ADA).
The survey was completed by 270 employers across the United States, a majority of which (84%) having 1,000 or more employees, and answered the following key questions:
What are employers doing to comply with ADA regulations?
What issues are they struggling with?
How are they treating leave as an accommodation?
What administrative practices do they have in place?
Our experts have analyzed the data and compiled all of the survey’s findings into a comprehensive white paper.
We found that a large majority of employers are making valiant strides to comply with the ADA. However, the survey also uncovered several areas of concern that open employers up to increased risk, liability and possible legal trouble in the future.
For employers, providing employee benefits has always been accepted as an essential way of attracting and retaining employees. At the same time, funding employee benefits has proved to be a high-risk complex task, fraught with unpredictable cost inflation, frequent changes in legislation and now the emerging confusion of healthcare reform.
Individual organizations have to maintain full knowledge of the rapidly evolving employee benefits market and unless they have thousands of employees, they cannot leverage the economies of scale to manage costs and keep their benefits under control.
Associations are able to provide a variety of valuable services to their members from representation to sharing of best practices and innovation. Many associations also look to ways in which they can use the purchasing power of their group to provide relevant goods and services at lower cost. This joint purchasing is often one of the most valuable benefits the association provides. At a time when costs are under increasing scrutiny, savings made via these arrangements are seen as a useful way to offset association fees.
In our latest free Spring white paper, titled “Employer Associations: Leveraging Buying Power to Create Cost-Effective Employee Benefit Programs,” our Senior Partner John Cassell takes a look at the basics of employer associations and offers up a few case studies based on some of his past experience with them.
Please fill out the form below to download your free copy of this informative white paper:
The recent acknowledgement from the Equal Employment Opportunity Commission (EEOC) on accommodation of employees with restrictions and limitations due to physical or cognitive impairments has been confusing for most employers.
ADA and ADAAA require employers to make reasonable accommodations where possible to enable an employee to perform the essential functions of their job. Conscientious, employee-centric employers highly value their talent and understand that supporting an employees’ need for a modification to the workplace, schedule or adaptation to a workstation is good for the employee as well as for the company.
Our Integrated Disability Management consultants talk to employers daily and we hear their accommodation questions and witness the confusion. In our latest Spring eBook, we will simplify answers to three of the questions most frequently asked by employers:
-What is the interactive process?
-What is a reasonable accommodation?
-What is undue hardship?
andprovide tactics for implementing a compliant and effective accommodation program.
Please fill out the form below to download your free copy of this informative ebook: