3 disability insurance items benefits advisors and employers should discuss

By Lynn Goldbach | August 08, 2019 at 06:06 AM

With open enrollment on the horizon, now is the time to talk about short- and long-term disability coverage offerings.

The primary benefit of disability coverage, which most employees understand, is the partial payment of income should a working person encounter a covered disabling event. 

Disability Insurance Awareness Month came to a close in May, but its messages are as relevant as ever. The seriousness of those messages creates the opportunity—and responsibility—for benefits managers and advisors to engage with employers well ahead of open enrollment. Like May, open enrollment will arrive—and be over—all too soon.

The reality is that one in four adults in the U.S. lives with a disability, and more than one in four of today’s 20-year-olds will become disabled before they reach retirement age. While people take disability leave from the workplace for a variety of reasons, the most common causes—depression, arthritis and other degenerative joint diseases, and lower back and neck strains—can happen to anyone and have persisting impacts on individuals, their families and their employers. In fact, the Integrated Benefits Institute found that illness-related lost productivity costs U.S. employers $530 billion per year due to almost 1.4 billion days of employee work absence.

Related: Taking “disability” out of disability insurance

Despite these statistics, many individuals who experience a disabling event are physically, emotionally and financially unprepared for it. Cigna recently commissioned the Cigna Group Disability Study of 500 U.S. adults and found that among those without disability more were extremely worried about their ability to pay living expenses.

With open enrollment on the horizon, now is the time for benefits managers and advisors to engage with employers about the short- and long-term disability coverage offerings available to employees. Below are three key points to help benefits experts communicate the value of this coverage.

1. Financial support, outside of just salary, to help weather the disabling event.

The primary benefit of disability coverage, which most employees understand, is the partial payment of income should a working person encounter a covered disabling event. But the benefits don’t stop there.

During open enrollment (and throughout the year) employers must educate employees about the financial support included with their plan that goes above-and-beyond what’s expected, which may include automatic claim payments, money-coaching, Social Security Advocacy and financial counseling programs.

Social Security Advocacy, which can include guidance and payments for attorney fees and other associated costs, is especially important because it helps bridge the gap to retirement. People often don’t understand that, if they are out on disability leave, they stop contributing to Social Security, and may need legal support to ensure they receive the supplemental social security income they deserve.

2. Total health and wellness benefits associated with disability coverage.

Ancillary health and wellness benefits, outside of financial support, offered through an employer can help put the value of coverage in perspective. Think about it this way: When people take disability leave because of an illness or injury, they must spend time focusing on what’s important during recovery:

their physical and emotional health. By educating employees about the return-to-work programs that may be available with coverage, such as personal health coaching, health engagement, advocacy, technical assistance and re-acclimation support, employers can demonstrate how they support employees from a holistic health and well-being perspective.

In some cases, employer’s may offer behavioral health benefits which can help guide individuals through a disabling event’s unanticipated issues, such as depression, emotional hardships and addiction. These benefits can prove to be a differentiator in employer benefit plans, helping employers to shorten the duration of a disability leave and get their employees back to optimal health sooner.

3. Holistic pre-disability and absence management programs.

Today, companies are employing pre-disability programs—leveraging their total health and wellness benefits—to help prevent a disabling event in the first place. Such programs offer a holistic view of the individual and are designed to keep employees healthier both at and away from work. The problem is: Many employees either don’t know about their options or they’re unsure how to get involved. This leaves a substantial opportunity to help employers better engage with and direct employees to preventive programs, ensuring their ability to better identify at-risk individuals who may need additional support.

An example falls within the absence management space. A recent analysis of more than one million Cigna claims revealed that individuals who experienced a work absence, such as Family Medical Leave, had a higher likelihood of filing a short-term disability claim in the future. In fact, individuals were shown to be four times more likely to have such a claim if they were taking care of their own health while caring for a family member. With early and proactive employee engagement, employers can play a critical role in managing overall health and well-being – which may ultimately lead to greater productivity.

The physical, emotional and financial impacts of disability cut across all age groups and demographics, and can affect a life in very connected ways. Benefits managers and advisors must do their due diligence this open enrollment season to ensure that the full breadth of their clients’ disability coverage options and educational resources is made available to employees. This will help individuals proactively guard against unexpected – and challenging – life events.

Lynn Goldbach is vice president of Cigns Group Calims.

For more information std/ltd plans that are now offering 10% below renewal rates for groups of 10 and more, click here to contact cbg | CONFIDENT.

Oral Health: A window to your overall health.

Original article can be found here: https://www.mayoclinic.org/healthy-lifestyle/adult-health/in-depth/dental/art-20047475

Your oral health is more important than you might realize. Learn how the health of your mouth, teeth and gums can affect your general health.By Mayo Clinic Staff

Did you know that your oral health offers clues about your overall health — or that problems in your mouth can affect the rest of your body? Protect yourself by learning more about the connection between your oral health and overall health.

What’s the connection between oral health and overall health?

Like other areas of the body, your mouth teems with bacteria — mostly harmless. But your mouth is the entry point to your digestive and respiratory tracts, and some of these bacteria can cause disease.

Normally the body’s natural defenses and good oral health care, such as daily brushing and flossing, keep bacteria under control. However, without proper oral hygiene, bacteria can reach levels that might lead to oral infections, such as tooth decay and gum disease.

Also, certain medications — such as decongestants, antihistamines, painkillers, diuretics and antidepressants — can reduce saliva flow. Saliva washes away food and neutralizes acids produced by bacteria in the mouth, helping to protect you from microbes that multiply and lead to disease.

Studies suggest that oral bacteria and the inflammation associated with a severe form of gum disease (periodontitis) might play a role in some diseases. And certain diseases, such as diabetes and HIV/AIDS, can lower the body’s resistance to infection, making oral health problems more severe.

What conditions can be linked to oral health?

Your oral health might contribute to various diseases and conditions, including:

  • Endocarditis. This infection of the inner lining of your heart chambers or valves (endocardium) typically occurs when bacteria or other germs from another part of your body, such as your mouth, spread through your bloodstream and attach to certain areas in your heart.
  • Cardiovascular disease. Although the connection is not fully understood, some research suggests that heart disease, clogged arteries and stroke might be linked to the inflammation and infections that oral bacteria can cause.
  • Pregnancy and birth complications. Periodontitis has been linked to premature birth and low birth weight.
  • Pneumonia. Certain bacteria in your mouth can be pulled into your lungs, causing pneumonia and other respiratory diseases.

Certain conditions also might affect your oral health, including:

  • Diabetes. By reducing the body’s resistance to infection, diabetes puts your gums at risk. Gum disease appears to be more frequent and severe among people who have diabetes.Research shows that people who have gum disease have a harder time controlling their blood sugar levels. Regular periodontal care can improve diabetes control.
  • HIV/AIDS. Oral problems, such as painful mucosal lesions, are common in people who have HIV/AIDS.
  • Osteoporosis. This bone-weakening disease is linked with periodontal bone loss and tooth loss. Certain drugs used to treat osteoporosis carry a small risk of damage to the bones of the jaw.
  • Alzheimer’s disease. Worsening oral health is seen as Alzheimer’s disease progresses.

Other conditions that might be linked to oral health include eating disorders, rheumatoid arthritis, certain cancers and an immune system disorder that causes dry mouth (Sjogren’s syndrome).

Tell your dentist about the medications you take and about changes in your overall health, especially if you’ve recently been ill or you have a chronic condition, such as diabetes.

How can I protect my oral health?

To protect your oral health, practice good oral hygiene daily.

  • Brush your teeth at least twice a day with a soft-bristled brush using fluoride toothpaste.
  • Floss daily.
  • Use mouthwash to remove food particles left after brushing and flossing.
  • Eat a healthy diet and limit food with added sugars.
  • Replace your toothbrush every three months or sooner if bristles are splayed or worn.
  • Schedule regular dental checkups and cleanings.
  • Avoid tobacco use.

Also, contact your dentist as soon as an oral health problem arises. Taking care of your oral health is an investment in your overall health.

Do you need help getting a plan or to get connected with an agent? Please email us at info@capital-benefits.com. We will put you in touch with a local representative or assist you personally to insure your benefit needs are met.

A dental visit can cost you, but a delay can hurt your teeth and budget even more

By Janice NeumannDecember 2, 2017

When I was in my 30s and a dentist told me I needed a few crowns, I decided to skip the expensive devices because of my meager paycheck. Besides, my teeth weren’t hurting.

Years later, I am paying the price in pain and costlier dental work. One of the damaged teeth that needed a crown distorted my bite, making a minor jaw-joint problem even worse.

Unfortunately I’m far from alone. The price of dental care is steep for many people financially, physically and even socially, according to Marko Vujicic, chief economist and vice president of the Health Policy Institute at the American Dental Association.

Vujicic said that the majority of emergency room dental visits were for infections that could be handled in a dentist’s office. Overall, emergency room dental visits cost $1.9 billion yearly, 40 percent of which is public money, according to his institute’s analysis of data from the Agency for Healthcare Research and Quality.

“I’m comfortable calling that highly wasteful,” Vujicic said. “That’s a very inefficient way to spend dollars.”

When Angela Lombardi, who lives in Bensenville, Ill., put off getting fillings because of the cost, the pain kept mounting and her teeth kept deteriorating. Eventually she had to have five teeth pulled at a county clinic, where the fee was low.

But that wasn’t the end of her pain. At age 32, she had difficulty chewing food and was too embarrassed to smile because of the unsightly gaps between her remaining teeth.

“Gosh, I had so many teeth pulled because of not having enough money to go to the dentist to get them treated,” said Lombardi, now 39. “When I got them pulled, there’s this empty space and it’s ugly. . . . You can’t chew, you can’t smile.”

Lombardi finally found help at Midwestern University College of Dental Medicine in nearby Downers Grove, where she will get a bridge and crowns for about $3,000.

The dental school, where care is provided by students, charges a third to a half of the fees charged by private dentists. “We want our students to have as robust an education as we can provide, and lower fees help attract and facilitate acceptance of treatment plans,” said Melisa Burton, Midwestern’s assistant dean of clinical education.

More people are avoiding dental care because of the cost than other types of health care, according to a study in Health Affairs that was led by Vujicic.

The study showed that adults ages 19 to 64 said they were more likely to forgo dental care because of cost than children or seniors (12.8 percent of non-elderly adults compared with 7.2 percent of seniors and 4.3 percent of children).

Nearly a quarter of adults with incomes below the poverty line said they did not receive dental care because of cost. Even people with dental insurance were avoiding getting their teeth fixed because of cost, according to the study.

People also said they didn’t get the dental care they needed because of fear, inconvenient locations or appointment times, and trouble finding a dentist who takes their insurance. Cost, however, was the main reason.

Vujicic said public health programs don’t seem to take account of the connection between oral health and overall health. Medicaid includes dental coverage for children and some states expanded Medicaid coverage under the Affordable Care Act, but 22 states do not offer dental care for adults via Medicaid while others offer varying degrees of coverage. Marketplaces created under the ACA offer dental coverage in separate plans.

“You and I understand the mouth is connected to the body, that bacteria in the mouth affects bacteria in the body, but policy doesn’t,” Vujicic said. “There is emerging and new evidence showing the link between chronic disease and oral health.” Oral care can help reduce overall health-care costs, research has found.

Vujicic advocates more insurance coverage, both public and private, for oral health. He said that adding dental coverage under Medicaid for the 22 states without it would cost $1.4 billion to $1.6 billion annually, but some of that would be recouped from fewer emergency room visits for oral care.

Jason Grinter, a dentist in Rockford, Ill., sees many patients who have gone without consistent dental care. He said the state’s Medicaid program has been a big help to patients in Illinois, covering fillings, dentures, extractions and, in some cases, root canals and crowns.

Grinter said he sympathized with patients who couldn’t afford dental care or dental devices such as partial dentures, which aren’t included in Illinois Medicaid for adults. He also said private insurance often caps benefits at around $1,000 per year, a ceiling that has not kept pace with dental costs.

“We’re all struggling, and a lot of times it’s a difficult conversation between the patient and dentist because there is the [financial] barrier,” Grinter said. “Not that someone is trying to price-gouge, but the price in my lab is $500 to $600 for a removable denture. . . . If you want to add some time and materials, it’s going to get up there in price.”

Often families will make sure their children get to the dentist, Grinter said, but tight budgets mean the parents won’t do the same.

“They will bring their kids to the dentist three or four times to get all the treatment that is needed,” Grinter said, “but they’re not willing to do that for themselves.”

Forgoing dental care in adulthood can mean even worse health problems in old age, according to Amber Willink, an assistant scientist at the Johns Hopkins Bloomberg School of Public Health in Baltimore. And Medicare does not cover dental care (or vision and hearing care).

“There’s that cumulative effect of put it off, put it off, put it off. . . . It’s only going to be that much worse and that much harder to manage and treat,” Willink said. “We’re talking about people who are having trouble eating because of their dental issues.”

As for Lombardi, she is looking forward to the day when she can smile again. The university care helped, and then her boyfriend stepped in with a Christmas present.

“He told me, ‘Your gift is I’m going to help you get your teeth fixed,’ ” she said.

Full Article click here

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MASTER YOUR MEDICARE WITH THESE 5 TIPS

It’s scary when you hear about a friend or family member who has dealt with identity theft or fraud, but we are here to ease your mind with these 5 steps to master your medicare and prevent medicare fraud.

1. PROTECT YOUR INFORMATION:

Be careful with who you send out your personal information to (like your social security number). Every year, millions of people have to deal with identity theft and you do not want to be one of them! Read up on what tactics the scammers have been using lately, especially since the seniors are one of the most targeted groups for scammers!

2. KNOW YOUR MEDICARE RIGHTS:

Some of your medicare rights include protection from discrimination, your personal and health information kept private, access to doctors and specialists, medicare-covered services when an emergency occurs, and more.

3. STAY UP-TO-DATE WITH THE SENIOR MEDICARE PATROL:

The Senior Medicare Patrol is a group where seniors help each other with finding and stopping health care scamming and errors. The program focuses on medicare fraud education, engaging volunteers, and obtaining beneficiary complaints. Check out https://www.smpresource.org/ for more information.

4. STAY KNOWLEDGEABLE ABOUT YOUR MEDICARE PLANS:

During the yearly open enrollment period, make sure you know what plan you have and see if you need to move to a different plan. We’d love to help you with analyzing your Medicare plan, so click here to contact us now.

5. PROTECT YOUR MEDICARE CARD:

Before April 2018, your Medicare number was based on a Social Security number, but now, Medicare has replaced the social security- based medicare number with a new Medicare number ( by separating the two, it will make it harder for thieves to obtain both numbers). Remember, protect your Medicare number like you’d protect your Credit Card number and always check your Medicare statement for errors.

Protecting the things you can’t replace
is your top priority, ours too.
www.mygenertionbenefits.com

Do you need dental insurance with your medicare plans? www.mygenerationbenefits.com has plans starting for as little as $10 a month and a huge network of providers.

Categories: MedicareTagged With: Common Medicare ScamsmedicareMedicare Scams to Avoidscams

Most Preventive Antibiotics Prescribed by Dentists are Unnecessary

A new study conducted by researchers at the University of Illinois at Chicago and published in JAMA Network Open has found that 81 percent of antibiotics prescribed by dentists — who are among the top prescribers in the U.S., accounting for about 10 percent of all antibiotic prescriptions — to prevent infections prior to dental visits are unnecessary.

The researchers, led by Katie Suda, associate professor of pharmacy systems, outcomes and policy at the UIC College of Pharmacy, say that this surprising finding highlights the need for improved antibiotic stewardship in dental practices, especially those located in the Western U.S., which were associated with the highest rates of unnecessary prescribing.

Using Truven, a national integrated health claims database, the researchers retrospectively analyzed dental visits occurring between 2011 and 2015. They compared antibiotic prescriptions — which were dispensed prior to 168,420 dental visits — to the number of high-risk cardiac patients who, per national guidelines, are the only patients recommended for antibiotics prior to a dental procedure.

They found that 81 percent of prescriptions did not align with the national guidelines and were provided for patients without high-risk cardiac conditions.

Quote All Carriers Now Individual dental plans
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“Use of preventive antibiotics in these patients opens them up to the risks associated with antibiotic use — increasing bacterial resistance and infections, for example — when the evidence used to develop the guidelines suggests that the risks outweigh the benefits in most patients,” said Suda, the corresponding author on the study.

The researchers also looked at dentists’ antibiotic prescribing patterns by geography. They found that the Western U.S. and urban areas were more likely to have unnecessary prescribing. Among patients most likely to fill prescriptions for unnecessary antibiotics are those with prosthetic joint implants and those receiving clindamycin.

A new study conducted by researchers at the University of Illinois at Chicago and published in JAMA Network Open has found that 81 percent of antibiotics prescribed by dentists — who are among the top prescribers in the U.S., accounting for about 10 percent of all antibiotic prescriptions — to prevent infections prior to dental visits are unnecessary.

The researchers, led by Katie Suda, associate professor of pharmacy systems, outcomes and policy at the UIC College of Pharmacy, say that this surprising finding highlights the need for improved antibiotic stewardship in dental practices, especially those located in the Western U.S., which were associated with the highest rates of unnecessary prescribing.

Using Truven, a national integrated health claims database, the researchers retrospectively analyzed dental visits occurring between 2011 and 2015. They compared antibiotic prescriptions — which were dispensed prior to 168,420 dental visits — to the number of high-risk cardiac patients who, per national guidelines, are the only patients recommended for antibiotics prior to a dental procedure.

They found that 81 percent of prescriptions did not align with the national guidelines and were provided for patients without high-risk cardiac conditions.

“Use of preventive antibiotics in these patients opens them up to the risks associated with antibiotic use — increasing bacterial resistance and infections, for example — when the evidence used to develop the guidelines suggests that the risks outweigh the benefits in most patients,” said Suda, the corresponding author on the study.

The researchers also looked at dentists’ antibiotic prescribing patterns by geography. They found that the Western U.S. and urban areas were more likely to have unnecessary prescribing. Among patients most likely to fill prescriptions for unnecessary antibiotics are those with prosthetic joint implants and those receiving clindamycin.

“These results point to trends by geography that are unexpected — they are the opposite of what is seen in medical clinics — and to an alarming tendency of dental providers to select clindamycin, which is associated with a higher risk of developing C. difficile infections when compared to some other antibiotics,” Suda said.

UIC’s Susan Rowan, a dentist, worked with Suda on the research.

“Dental providers are very thoughtful when they develop care plans for their patients and there are many factors that inform dentists’ recommendations and the medications they prescribe, but this study shows that there is an opportunity for dentists to reevaluate if necessary and incorporate renewed commitments to antibiotic stewardship into their practices that limit preventive prescriptions to a small group of patients,” said Rowan, executive associate dean and associate dean for clinical affairs at the UIC College of Dentistry. “I think dental providers should view this study, which is the first to look at preventive antibiotic prescribing for dental procedures and provide this type of actionable information, as a powerful call to action, not a rebuke.”

The authors noted that because the study was limited to patients with commercial dental insurance and the analysis used a broad definition of high-risk cardiac patients, the findings may actually underestimate unnecessary prescribing of antibiotics.

Additional co-authors on the study, which was funded by the Agency for Healthcare Research and Quality (R01HS25177), include Gregory Calip, Dr. Jifang Zhou, Alan Gross, Dr. Ronald Hershow and Rose Perez of UIC; Jessina McGregor of Oregon State University; and Charlesnika Evans of Northwestern University.

Preventive dental care translates to long-term savings for Employers and Employees

https://www.benefitspro.com/2019/05/21/preventive-dental-care-translates-to-long-term-savings/

Employer groups with higher utilization of preventive dental care over a six-year period experienced an 86% reduction in the use of major dental services.

We all know this intuitively: If you brush and floss your teeth daily and regularly visit the dentist for a check-up and a professional cleaning, you might just not need that dreaded root canal.

Moreover, employees and employer will likely pay less in dental insurance claims for more serious treatments, sums up Guardian’s research brief, “An ounce of prevention.”

The brief cites Guardian’s 5th Annual Workplace Benefits Study, “Dental Benefits: A Bridge to Oral Health & Wellness,” which found that employer groups with higher utilization of preventive dental care over a six-year period experienced an 86 percent reduction in the use of major dental services in subsequent years, for a net savings of 16 percent on dental claims costs.

Related: 5 best, 5 worst states for dental health

Quote group dental with cbg|CONFIDENT.

Dental plan members also saved when getting a check-up and cleaning at least once a year, according to the study. They required less major dental services and, as a result, had lower out-of-pocket costs over a three-year period.

Those who did this for two years in a row had a $90 decrease in claim costs in the third year. However, members with no preventive care experienced an average increase of $720 in claim costs.

“Many working Americans believe that if they brush their teeth and have no pain, then there is no need to see the dentist,” the authors write. “But Guardian’s recent analysis of claims data shows that plan members who receive at least annual preventive care are more likely to avoid serious oral health problems that require more costly treatment in later years.”

The study also found that those with no preventive care for at least two years were 55 percent more likely to reach their dental plan maximum compared to those who received preventive care at least once a year. Moreover, about one in four plan members (23 percent) who reach their annual maximum tend to reach it again the following year, and 7 percent hit the maximum in three or more consecutive years.

On average, plan members’ dental claim costs are four times higher in years when they hit their annual maximum, according to the study.

“Dental plan designs with greater coverage tend to encourage higher utilization of preventive care,” the authors write. “Members whose dental plans have more allowances for preventive care benefits, as well as higher co-insurance levels and lower copays, are more likely to receive an annual exam/cleaning compared to those in more limited dental plans.”

Conversely, plans with higher out-of-pocket costs and reduced benefits cause many individuals to skip or delay routine check-ups and cleanings.

“Dental benefit programs that encourage at least annual exams, cleanings and x-rays can positively impact preventive care utilization and ultimately support a healthier and happier workforce,” the authors write. “An ounce of dental care prevention certainly creates a valuable win-win for employers and their employees.”

 

 

 

The HR tool no company should be without and how cbg | CONFIDENT can get your client there.

You are the insurance agent for multiple small businesses. Your clients trust you and look to you for information on ways to make beenfits more affordable and simple.

Benefits and HR go hand in hand. Many times there is one person managing the payroll, the HR, the benefits, etc. etc. etc. Help ease the burden by bundling benefits with cbg|CONFIDENT and offering some help in a few areas below.

Effectively managing benefits and ensuring employees are offered the right coverage at the right time is a complex and time-consuming task to manage. That’s just the tip of the benefits iceberg.

The Affordable Care Act folds in an additional layer of complexity. If you employed an average of 50 or more full-time (or full-time equivalent) employees in the prior calendar year, you could be subject to an IRS penalty if you don’t offer medical coverage to your full-time employees. State and local health care mandates may require you to offer additional coverage or benefits.

From basic benefits like medical and dental coverage, to health care flexible spending accounts and life insurance, the list of benefits you’ll have to manage can grow quickly. cbg | CONFIDENT A+ rated carrier offers an online dashboard to manage ALL the benefits, even the ones not purchased through this carrier.

Having a rich benefits package is a healthy way to attract top talent. But without the proper technology infrastructure, you may be creating a nightmare for your HR department. Not to mention that you may be offering benefits your employees don’t value.

A sophisticated benefits management software can help take the guess work out of your benefit offerings and put powerful knowledge into the hands of your administrators, drastically reducing the occurrence of eligibility oversight and improving benefit usage rates. We can help you offer that to your clients.

Many top HR tech tools in the benefits management realm offer dashboards for a quick glimpse into benefits usage. Some offer the ability to dive into the analytics associated with your employees’ benefits usage, so you explore whether you’re offering the appropriate mix of benefits and begin to predict future costs to stabilize your fiscal planning. Request a demo for this platform here.

It should come as no surprise that many employee benefits are underutilized. Many times, the case is that employees weren’t aware of the offering or didn’t know how to enroll. The right HR technology can solve both problems, helping build stronger affinity toward your business.

A benefits management system with integrated decision-making tools can provide supplemental education to your employees so they can better understand and see the value in their benefits choices, including the cost to them or their family.

You can also be more proactive in alerting employees to key enrollment periods. Since life events such as marriage and the birth of a child are the norm, easy access to make changes through your benefits management system can provide simplicity toward helping ensure your employees’ changing families are properly covered.

Add all this together and employees can really begin to appreciate all your benefit offerings.

Your key takeaway

Estabish your goals as an agent and expanding your business. We have the tools to start conversations and instroduce quality employee benefits. As much as software and top HR tech tools can help your client’s business run better, grow faster and make more money, it’s the people who matter at the end of the day. Your ability to provide support and guidance is valuable.

Learn more about cbg | CONFIDENT and the carriers we distribute here.

Talent competition wins with benefits.

Once upon a time employers took a much different approach to replacing talent and the costs associated. Unemployment are at lows not seen in two decades,1 and those old approaches are no longer working. Employers face competition for talent, and the costs associated with turnover can seriously affect the company bottom line.

An uphill climb in a competitive talent market

  • More than 20% of employers intend to increase hiring for the third straight year.2
  • 75% of hiring managers have encountered or expect to encounter skills shortages in their industries.3
  • Over 90% of employers note that these shortages are affecting productivity, staff turnover, engagement and employee satisfaction.4
  • Voluntary turnover costs U.S. employers $536 billion annually.5

It’s more important than ever to be strategic about recruiting, rewarding and retaining talent. As a broker and benefits adviser, how can you help clients succeed in a candidate’s market?

Invest in robust, innovative benefits

Today, winning talent takes priority over benefit costs. That’s a shift for many employers, seeing as in the last decade many of them have focused on controlling primary plan costs and shifting more of the cost to employees. But consider this:

  • 80% of employees would prefer a new benefit to a pay raise.6
  • 84% of employees who are highly satisfied with their benefits report high job satisfaction.7
  • Benefits are the #1 factor candidates consider when deciding whether or not to accept a new position.8

Supplemental expense reimbursed insurance is a powerful benefits tool to help employers drive down turnover, improve retention and attract the right talent in a tight market. This type of insured plan can be layered on top of the primary plan for select employee classes only—those for which it is difficult to recruit or for roles with high turnover.

cbg | CONFIDENT offers the ability to compare costs to multiple carriers on ancillinary benefits. There is an option for every budget and every need. In addition, these types of benefits do not need to sync with primary plans, meaning they can be put in place at any time of year.

Bureau of Labor Statistics

ManpowerGroup

HR Daily Adviser

HR Daily Adviser

Work Institute

Glassdoor

EBRI

Indeed