A new report released by the Trust for America’s Health and the Robert Wood Johnson Foundation states that if the rates of obese and overweight children and adults continue on the current track only the District of Columbia would have an obesity rate less than 40 percent by 2030. The report also warns that health care costs will increase alongside U.S. waistlines.
The reason that we should be concerned about the rising obesity levels, is because it will bring hefty health care bills due to treatments for of weight-related illnesses such as diabetes and hypertension. For example, the report predicts New Jersey would see a possible 34.5 percent spike in spending during the time period.
If current trends hold, businesses also would face heavy price tags because of obese employees who have higher compensation claims and are more likely to be absent. The report projects a loss of economic productivity between $390 billion and $580 billion in two decades. The report called on obese individuals to cut their body mass index, or BMI, a metric that measures healthy body weight, by 5 percent in order to offset obesity-related illness and financial costs. For some people, this could mean a 10- to 15-pound weight loss.
I have read articles that in Japan employees receive incentives to maintain healthy statistics. Plus in many companies, they require daily workouts. Maybe companies in the US should consider similar policies.
Also remember, if these trends continue, more people that will require healthcare services and those costs will increase the amount each of us will need to pay to fund the system.
Monday, September 24, 2012
Monday, September 17, 2012
Choosing Benefits
Did you know that a survey from Aetna finds that Americans rank choosing health care benefits as the second most difficult major life decision behind saving for retirement?
Survey participants reported that choosing health care benefits is more difficult than purchasing a car, making decisions about medical tests or treatments, parenting, and selecting homeowners, renters or auto insurance. Consumers who found health care benefits decisions difficult cited these reasons: the available information is confusing and complicated (88 percent), there is conflicting information (84 percent) and it is difficult to know which plan is right for them (83 percent).
The survey also finds consumers also remain in the dark about health reform. More than three-quarters of consumers believe that all of the key elements of reform are important for their families or them. However, 41 percent of respondents said they need more information on health care reform to understand its impact.
Why should you care?
Most companies feel that their employee benefit program is an important recruiting and retention program. Also, since healthcare premiums are a major expense for most companies, they want to ensure that the benefits are perceived as benefit by their employees.
So how do you help?
Communication is key elements in helping your employees understand their benefits and making wise decisions. Larger companies have specialists in their HR department that communicate the benefits and help the employees make informed decisions.
But what does a company do if they do not have the resources to have a specialist on staff?
Find broker who provides these services. My company is not only available for the open enrollment presentation, but we provide the opportunity for the employees to spend time discussing their needs to ensure that have a benefit package that works for them and their family.
Remember if your employees do not value your benefit package, then your company is not getting value for the premiums they are paying.
Survey participants reported that choosing health care benefits is more difficult than purchasing a car, making decisions about medical tests or treatments, parenting, and selecting homeowners, renters or auto insurance. Consumers who found health care benefits decisions difficult cited these reasons: the available information is confusing and complicated (88 percent), there is conflicting information (84 percent) and it is difficult to know which plan is right for them (83 percent).
The survey also finds consumers also remain in the dark about health reform. More than three-quarters of consumers believe that all of the key elements of reform are important for their families or them. However, 41 percent of respondents said they need more information on health care reform to understand its impact.
Why should you care?
Most companies feel that their employee benefit program is an important recruiting and retention program. Also, since healthcare premiums are a major expense for most companies, they want to ensure that the benefits are perceived as benefit by their employees.
So how do you help?
Communication is key elements in helping your employees understand their benefits and making wise decisions. Larger companies have specialists in their HR department that communicate the benefits and help the employees make informed decisions.
But what does a company do if they do not have the resources to have a specialist on staff?
Find broker who provides these services. My company is not only available for the open enrollment presentation, but we provide the opportunity for the employees to spend time discussing their needs to ensure that have a benefit package that works for them and their family.
Remember if your employees do not value your benefit package, then your company is not getting value for the premiums they are paying.
Wednesday, September 5, 2012
Can Not Blame Everyone
During the healthcare debate, I believe that two groups are at times unfairly blamed as part of the problem: employers and health insurance brokers.
A recent article mentioned that the latest National Federation of Independent Business survey reveals more than half of small business employers view the cost of insurance as their “most critical problem.”
“Fears over increasing health insurance costs continue to dominate the list of concerns for small businesses, very much in spite of the president’s health insurance reform law—certainly not an endorsement of the policy, nor a good sign for the future of the sector,” says Holly Wade, senior policy analyst and survey author.
Please remember that employer in California pay for at least 50% of the cost of the employee premium, and in many cases more.
So who do the employers turn to for help? The health insurance broker.
Our job is to help the employer review the 100’s of plans available and help them find value for the premium that they pay. A good broker will show you that they researched the market and provide you information necessary to confirm that you are getting value. For example, when I meet with a new or existing client about their renewal, I am armed with a 100+ page report that shows every carrier available to that client sorted by carrier and by premium costs based on their unique situation.
And how do most agents get compensated? Commissions, in other words, if we do not perform and provide quality service, we do not get paid.
So next time you hear our Insurance Commissioner blame employers and insurance agents (trying to cut our commission or us out of the process) for high costs of health insurance, maybe you should ask has he ever had to make payroll or has ever been paid for performance?
A recent article mentioned that the latest National Federation of Independent Business survey reveals more than half of small business employers view the cost of insurance as their “most critical problem.”
“Fears over increasing health insurance costs continue to dominate the list of concerns for small businesses, very much in spite of the president’s health insurance reform law—certainly not an endorsement of the policy, nor a good sign for the future of the sector,” says Holly Wade, senior policy analyst and survey author.
Please remember that employer in California pay for at least 50% of the cost of the employee premium, and in many cases more.
So who do the employers turn to for help? The health insurance broker.
Our job is to help the employer review the 100’s of plans available and help them find value for the premium that they pay. A good broker will show you that they researched the market and provide you information necessary to confirm that you are getting value. For example, when I meet with a new or existing client about their renewal, I am armed with a 100+ page report that shows every carrier available to that client sorted by carrier and by premium costs based on their unique situation.
And how do most agents get compensated? Commissions, in other words, if we do not perform and provide quality service, we do not get paid.
So next time you hear our Insurance Commissioner blame employers and insurance agents (trying to cut our commission or us out of the process) for high costs of health insurance, maybe you should ask has he ever had to make payroll or has ever been paid for performance?
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