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Understanding generational audiences might impact benefit enrollment

Employers that understand the generational demographics within their organization might have an opportunity to capitalize on certain needs and wants of employees, therefore boosting benefit enrollments company-wide. If companies were to apply their knowledge and understanding of each generation’s habits, they could better appeal to that demographic within their organization. The following generations respond well to certain strategies. Honest, straightforward and clear language and financial scenarios appeal most to Baby Boomers. They are also more interested in estate planning options. Digital marketing with a focus on major life events including marriage, having children, moving or launching a new career appeals most to Generation X.  Millenials appreciate online tools to give them an overall understanding of what’s at hand, but appreciate having the opportunity to reach out to HR for support and guidance if necessary.  Employees seem to expect that their employer ...

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Reference-Based Pricing, Education, and Online Shopping Tools: Three Ways to Control Lab Costs

A Cigna and Safeway study found that reference-based pricing, along with other support for consumers like education and online shopping tools, can stem the rising cost of lab tests and procedures. What is reference-based pricing? In essence it fixes the maximum expenditure for a specific service. The study focused on lab services though it could eventually be applied to other services. Once the maximum price, aka the reference price, is set, it determines whether the consumer reaps a savings by spending at or under the reference price, and are responsible for the additional cost if they spend above it. It’s intended to serve as a step in-between the full cost of benefits and the consumer, allowing benefit recipients to feel some of the costs involved without being crushed by them. It also incentivizes saving on services where possible. In addition to reference-based pricing, the study granted one group of consumers access to an online shopping tool that allowed them to compare costs and types of lab s ...

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Five things you should leave out of written documentation

Organizations and the managers and supervisors that work within said organizations are always being encouraged to ensure that everything is well-documented in writing to protect against potential legal blunders. Experts say there are some things, however, that should not be included in written documentation. Personal opinions about an employee, a specific situation or an altercation Speculations as to why an employee might continue to display a certain behavior Detailed information about the individual’s family, medical history, religion, ethnicity or sexual orientation Affirmative words like “always” or “never”  Legal conclusions – For instance, writing something like “the employee sexually harassed another employee,” write “the employee violated the organization’s sexual harassment policy.”  There are things to keep in mind when avoiding these items in documentation. Accuracy is always vital. An entir ...

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Decision on legislation’s subsidy challenge might affect employer mandate penalties

2015 marks the beginning of oral hearings in the Supreme Court over a case that experts say might impact the employer mandate compliance portion of the Affordable Care Act. The Court is set to start hearing the case in March. They will decide if consumers who use the public exchanges are eligible to receive premium tax credits in states that have yet to create their own exchanges and instead defer to the options. The current jargon held within the law states that the premium tax credits can only go to those who utilize state exchanges to enroll in plans for coverage. At this time, only 13 states along with the District of Columbia have state-managed exchanges. Three states are using a state-run system that channels through the federal website. Experts say that the current employer mandate restrictions might be struck down if the court is to find that the Internal Revenue Services’ rule that allows for premium tax credits to those using the federal exchanges to be a ...

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Four mistakes performance appraisers are making

Evaluating an employee’s performance is no easy task for managers. It’s a difficult idea to quantify exactly what the individual’s contributions are and there’s often much at stake in most evaluations. These are some of the most common mistakes managers make when it comes to evaluating employee performance: Not creating goals that matter: Goals need to be items that can be measured. They need to include specific objectives for employees to aim to achieve. They need to be achievable for the employee and they should have a specific time frame attached to them.  Not paying attention to goals through the entire evaluation period: There are many factors that can shift or alter during the period that an employee has set out to achieve a specific goal. If the manager doesn't take these changes into account, the goals might not be relevant, setting the evaluator and the employee being evaluated up for failure.  Not discussing goals through the entire evaluation ti ...

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