Amwins Connect provides insightful articles that cover various topics as resources to brokers and agencies of all sizes within the Group Benefits industry. As a General Agency, Amwins Connect is always working hard to provide product knowledge and relevant health insurance information. This recap includes topics ranging from how benefits packages are helping drive employee retention, employee benefits and the Great Resignation, an expected jump in group health premiums, the key to effective employee benefits, and more.
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Companies That Prioritize Health Benefits Have Lower Turnover
With an average of 4 million workers quitting their jobs each month, employee attrition is dominating the headlines and putting work under the microscope.
Executives say that the employee benefits package is the leading factor driving retention, according to a survey by The Predictive Index. Companies that prioritize health care benefits have 27% lower turnover.
Employee Benefits and the Great Resignation
Artemis Health surveyed over 300 benefits leaders to get their take on how to use employee benefits to respond to the “Great Resignation.” With employee turnover in the news, benefits leaders indicated a 23% increase in their focus on fighting attrition. Employee feedback has become the number one source for making decisions on employee benefits.
Group Health Premiums Expected to Jump 5.6% in 2022
Health plans are expecting 2022 premiums to increase by 5.6% for fully insured group plans. This growth is 0.7 percentage points higher than their expectations for 2021, according to a survey by Sherlock Company.
The Key to Effective Employee Communications
Employers will see the maximum impact when they tailor health and well-being communications to the scenario and sometimes to the employee. Employees are generally more motivated by peers and managers on more personal topics, such as physical and emotional well-being.
Will Fertility Benefits Become Commonplace?
For many years, there was no upward trend in health plan benefits for infertility. But that’s changing, according to a survey by Mercer. Over the past five years, more large employers have been offering fertility benefits. Since the largest employers are often trendsetters, they may be leading a broader movement.
Health Plans Must Now Cover At-Home COVID Tests
As part of its ongoing efforts across many channels to expand Americans’ access to free testing, the Biden-Harris Administration is requiring insurance companies and group health plans to cover the cost of over-the-counter, at-home COVID-19 tests, so people with private health coverage can get them for free starting January 15th.