Simplyhealth’s Post

Top of UK businesses' wishlist for the new Labour government? Not tax breaks, or easing regulation, but fixing the NHS to help people get back to work. Underscores concern over sickness absence, which is running at record levels. In response, companies are turning to private health insurance + services, with demand at an all-time high. Important theme in this one by Michael O'Dwyer and me

Healthcare costs and wage growth continue to tango in a challenging dance for businesses and employees. With the average healthcare premiums soaring by 22% over the past five years, closely shadowing wage growth at 27%, the financial strain is palpable. Particularly hard-hit are smaller firms and their lower-wage employees. Read more here: #healthcarecosts #employersponsoredplans  

NEW STUDY: 98% of Paytient members reported less financial stress with access to our Health Payment Account giving them the confidence to get care without the worry of unexpected bills. 40% of workplace-insured Americans are delaying care due to cost but employers are recognizing the health hazard of health plans that leave care funding uncertain, and they’re embracing solutions that provide certainty of affordability.  It’s not just a healthcare issue—it’s a productivity and well-being issue, too. Delayed care leads to more stress, missed workdays, and bigger health problems down the road. But as an employer, you can help change that. Want to learn how you can help your employees stress less and stay healthier? Check out our latest article for practical solutions. 📖 Working Americans are Stressed About Medical Bills—Here’s How Employers Can Help #EmployeeBenefits #FinancialWellness #HRLeaders #WorkplaceHealth

💡 I had no idea when I asked this question that the results would be so high: When asked "Did having the Paytient card lower your overall financial stress?"— * 77% responded, "Yes, significantly" * 21% said, "Yes, somewhat" * Only 2% said no. If you're exploring financial wellness solutions for your team for 2025, we should talk. Paytient's HPA can be implemented alongside any health plan, any time of year. When implemented during Open Enrollment, clients see lower health plan costs through voluntary plan migration plus employee experience, equity, productivity and retention gains. And thank you Tamra Lair for the inspo to get a quantitative measurement of what we hear all the time in our reviews. 💖

COBRA mandates that eligible employees can continue their health coverage after leaving a job. Most private-sector employers with 20+ employees must comply, while small employers, churches, and certain plans are exempt. State laws may impose additional requirements. It’s crucial to understand these rules to ensure compliance and provide necessary coverage. https://lnkd.in/ge3QTqsQ #COBRA #EmployeeBenefits #HRCompliance #Healthcare

The #economic cost of #sickleave, 19.4 days per year per employee cost €26 billion. Pivot from #healthcare treatment to #wellness & #preventive is critical not just to support every individual but the economic growth which every individual counts. #Banking, #Insurance, #Healthcare are very strong motivators. Emm… when was my last sick leave 😅 like never 🏃🏻♂️ 🏋🏻 🏊🏻♂️ 🥗 🌅 ☕️ https://lnkd.in/g6ZPh6UW

Interesting article on how workplace benefit plans impact Canadians' health & financial security. Statistics I took note of: 9% increase in health benefits paid in 2023 compared to 2022; in 2023 1.5 billion paid out for massage therapy claims, while 1 billion paid out for other paramedical services combined; 9.5 billion paid out for short- and long-term disability claims.

New research conducted by the Centre for Economics and Business Research (Cebr), on behalf of Zurich UK, has found people with long-term health conditions now account for almost a third of the UK workforce. In 2017, 25.4% of those in employment suffered from a long-term health condition. This has risen to 30.7% as of 2022, set to breach 40% by 2030. As we speak, the Government is looking to tackle growing long-term health figures. Most recently, this has come in the form of the Department for Work & Pensions’ (DWP) new Occupational Health Taskforce, led by Dame Carol Black. However, as Peter Hamilton, Head of Market Engagement at Zurich Insurance, rightly points out, “while there are many aspects of occupational health, vocational rehabilitation tends to be the poor relation; it’s overlooked and forgotten […] rehabilitation is the unsung hero, it’s the difference between people getting back to work or not.” Consequently, Zurich is now calling on the UK Government to mandate rehabilitation support in the workplace. This campaign has been endorsed by Kim Leadbeater MP who believes the UK’s workforce is “not fighting fit.” Kim is pleased that awareness is increasing among employers of the benefits of improving the health and wellbeing of their workforce, “but there is definitely more to be done.” https://lnkd.in/e8DscKM6

Happy #OpenEnrollment season! Medical costs for employers keep climbing year after year, with an expected increase of 7.8% next year according to a BGH survey. Employers are working their hardest not to pass these costs onto employees, but we might have reached a breaking point. A new survey suggests that employees might see these costs impact them in different ways in the coming year.   “These uncontrolled costs directly lead to smaller raises, lost jobs, and the inability of working families to afford care, and is perhaps the primary driver of health inequity," Gremminger said. "And for employers, it’s no longer just about cost control. It’s about survival.” We're digging into what the future holds for #healthinsurance as costs remain unsustainable for employers, insurers, and consumers. We're exploring the models and big ideas that can help turn things around, the technology needed to execute, and so much more. Are you working on a big new idea to #bendthecostcurve? Send me a message! We'd love to learn more and talk to you for our research on The Future of Health Insurance. #futureofhealthinsurance #valuebasedcare #primarycare #employeebenefits #benefitdesign #workplacehealth

https://lnkd.in/da2_7dA9 We’re seeing this trend nationwide with municipalities and school districts. Due to generous plan designs and contributions, these groups often become magnets for enrollment and higher risk. Recently, Merced County, California, avoided a strike by reaching an agreement with employees, though concerns over healthcare changes and rising costs remain. Employees are worried about how these changes will affect their coverage and finances, and the county has promised to address these issues in future discussions. Unfortunately, without real solutions, these negotiations continue to be delayed. We directly attack this challenge through our Total Care Option (TCO), a solution that allows employers to pay for the health costs of families that enroll in their spouse’s plan. This limits the company’s financial exposure to the family’s out-of-pocket annual expenses and will save the company, on average, $10K per year per family enrolled in the TCO.  Employees can use the account to pay for out-of-pocket health costs or premium contributions on their spouse or partner’s plan. This allows our clients to give an incredible new benefit to their employees while saving costs. The rare win/win during challenging times. If you’re an employer or broker/consultant and want to learn more, message us on LinkedIn to schedule a demo! 👍 #employeebenefits #healthcarecosts #healthbenefits #healthinsurance #planselection #benefitdecisionsupport #totalcareoption