Cupertino Employee Benefits

Do You Have Mixed Emotions about Open Enrollment? | CA Benefits Agency

It’s typical to have mixed feelings about the annual benefits open enrollment period. Dread for the additional administrative workload and potential benefits cost increases… Anticipation of newer, more attractive, and easier to administer plans… It makes for a fall season that causes many HR professionals and benefits brokers to drown their misery in pumpkin spice lattes.

Better Benefits Attract and Retain Talent

A high-quality employee benefits package is one of the best tools in your arsenal to attract the right talent, enhance employee engagement, and retain your most valuable employees. According to a May 2018 Harris Poll/Glassdoor survey, nearly half (48 percent) of U.S. workers cited attractive company benefits and perks as key factors in their likelihood to apply for a job, and other surveys have found that excellent benefits play a role in retaining employees.

Employees today expect their employers to be creative, consider employee needs, make benefits easy to use, and offer them choices to help manage their lifestyles. Besides health insurance, benefits protecting their incomes, such as disability insurance, financial planning, and retirement plans are important. In addition, consider that employees are tech savvy and expect to have online tools and calculators, along with complete communications, to assist them in making decisions regarding their benefit options.

5 Steps for Success

To prepare for this year’s open enrollment, focus your efforts on designing the best benefits and communications program. Make the most of marketing your benefits programs to your employees by:

  1. Reviewing workforce demographics and benefits usage to get a better understanding of employees’ stages in the lifecycle. Knowing your audience and targeting benefits communications to meet those lifecycle needs makes the benefits more personal and relevant. Employees with young families, older workers preparing for retirement, empty nesters, and young singles all have distinctly different benefits needs and interests.

  2. Packaging benefits by target group with messaging that speaks to each group’s needs while consistently reinforcing the overall benefits strategy and company branding in the messaging. Different communications delivery systems may also be important to different employee groups.

  3. Starting the messaging with why the benefits are structured as they are and what the company’s overall benefits strategy is designed to accomplish. Don’t sugarcoat any bad news about changes in the benefits program. Employees will see through it and resent attempts to hide changes that may be perceived as negative. This is a good time to highlight the important value of their benefits programs, promote wellness, encourage retirement savings, and encourage cost-effective usage of benefits programs.

  4. Keeping the messaging straightforward. Provide clear information, checklists, and decision support tools that are easy to follow. Have the details available but keep the key messages and “what you need to do for enrollment” information central to the enrollment materials.

  5. Bringing company managers and supervisors into the discussions prior to launch. Give them a heads up regarding the upcoming benefits changes and enlist their help in the process.

4 More Things to Consider

The next step is to tackle the “how” of the benefits communications and enrollment program, including:

  1. Communications delivery methods. Electronic communications? Mobile apps? Webinars? In-person company meetings? Text messages? Packages mailed to home addresses to involve the family? Use of social media? Intranet messaging? Gaming techniques? Frequent emails or instant messaging? Live hotline for questions and concerns? Combination of all methods?

  2. Enrollment methods. Online? Manual? Mobile? Make it as administratively simple as possible for both employees and the benefits administration staff. Use electronic tools if the budget allows.

  3. Timing. Establish a timeline working backwards from the date that the information must be completed with the carriers and other benefits providers. Then work forward to deliver the communications program.

  4. Frequency. Employees need time to consider their options and allow the information to soak in. Consider sending employee prompts and reminders so that the enrollment process is completed in a timely manner.

The annual open enrollment communications opportunity is precious — you can influence how employees see benefits or cost changes, motivate employees to change their health or savings habits, and let employees know that management is listening, considering their feedback valuable, and responding to their needs.

by Laura Kerekes
Originally posted on thinkhr.com

Wearable Technology | California Employee Benefits

Don’t lie--we ALL love gadgets. From the obscure (but hilariously reviewed on Amazon) Hutzler 571 Banana Slicer to the latest iteration of the Apple empire. Gadgets and technology can make our lives easier, make processes faster, and even help us get healthier. Businesses are now using the popularity of wearable technology to encourage employee wellness and increase productivity and morale.

According to a survey cited on Huffington Post, “82% of wearable technology users in American said it enhanced their lives in one way or another.” How so? Well, in the instance of health and wellness, tech wearers are much more aware of how much, or how little, they are moving throughout the day. We know that our sedentary lifestyles aren’t healthy and can lead to bigger health risks long term. Obesity, heart disease, high blood pressure, and Type 2 Diabetes are all side effects of this non-active lifestyle. But, these are all side effects that can be reversed with physically getting moving. Being aware of the cause of these problems helps us get motivated to work towards a solution.

Fitbit, Apple Watch, Pebble, and Jawbone UP all have activity tracking devices.  Many companies are offering incentives for employees who work on staying fit and healthy by using this wearable technology. For example, BP Oil gave employees a free Fitbit in exchange for them tracking their annual steps. Those BP employees who logged 1 million steps in a year were given lower insurance premiums. These benefits for the employee are monetary but there are other pros to consider as well. The data collected with wearable technology is very accurate and can help the user when she goes to her physician for an ailment. The doctor can look at this data and it can help connect the dots with symptoms and then assist the provider with a diagnosis.

So, what are the advantages to the company who creates wellness programs utilizing wearable technology?

·      Job seekers have said that employee wellness programs like this are very attractive to them when looking for a job.

·      Millennials are already wearing these devices and say that employers who invest in their well-being increases employee morale.

·      Employee healthcare costs are reduced.

·      Improved productivity including fewer disruptions from sick days.

The overall health and fitness of the company can be the driving force behind introducing wearable technology in a business but the benefits are so much more than that. Morale and productivity are intangible benefits but very important ones to consider. All in all, wearable technology is a great incentive for adopting healthy lifestyles and that benefits everyone—employee AND employer. 

 

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Benefits of an Annual Exam | California Benefit Advisors

Have you ever heard the proverb "Knowledge is power?" It means that knowledge is more powerful than just physical strength and with knowledge people can produce powerful results. This applies to you and your staff's annual medical physical as well! The #1 goal of the annual exam is to GAIN KNOWLEDGE. Annual exams offer you and your doctor a baseline for your health as well as being key to detecting early signs of diseases and conditions.

#1 GOAL

of your annual exam is

to GAIN KNOWLEDGE

According to Malcolm Thaler, MD, "A good general exam should include a comprehensive medical history, family history, lifestyle review, problem-focused physical exam, appropriate screening and diagnostic tests and vaccinations, with time for discussion, assessment and education. And a good health care provider will always focus first and foremost on your health goals."

Early detection can cut costs that result from chronic diseases. By encouraging your employees to schedule AND attend their annual physical, you will see that their productivity will not suffer because of an undiagnosed condition. Early detection reduces no-shows or call-outs; it reduces costs of training a temporary worker brought in to substitute for the employee while out on sick leave; early detection can also cut costs that result from chronic diseases. Employers spend on average $18,000 yearly per employee for costs related to illness and loss of productivity.

So how can you combat these rising costs? Your workplace can sponsor Wellness Programs such as a Nutrition Fair where your employees learn how to make healthy meals for their family, healthy snacks, and how to make wise food choices when going out to eat with co-workers.  Find an exercise program that can be employee led such as a running or walking club, group fitness programs that only require a TV and DVD player, or an employee run cross-fit style fitness program.

"By providing employee wellness programs that include event-specific physicals, many nationwide employers have decreased their employee health care burden by $1 - $3 for every $1 spent.  Other analyses show that wellness programs, including annual physical exams, have reduced employers' health costs by an average of 26.1%."

Here are some tips on fun and easy ways to promote overall health and wellness in your workplace:

1.    Stock the snack cabinets with healthy, pre-portioned snacks.

2.    Offer standing desks to allow workers options to get moving while working.

3.    Find a 5K in your community and put together a company team.

4.    Sponsor different "challenges" like "8 glasses of water a day" or "A mile a day" and the winner of these challenges receives a prize at the end of the month.

Through these easy changes, you will see your workforce gain confidence and better health while losing weight and bad habits! Win-Win!

 

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Disability Income Protection is an Employee Benefits Rising Star | California Employee Benefits

According to recent studies disability income is a rising star in the employee benefits market. This is due to a variety of factors. Most poignantly insurance company attempts to court and educate employee benefit advisers about the product, historically low national unemployment and financial impact of the recent tax reforms.

In discussions with successful financial and employee benefits professionals across the country, one of the common traits observed is their ability to adapt their business in the midst of market change.  To accomplish this, professionals must not only pay attention to industry trends, but also anticipate how to shift an organizational process to maximize positive outcomes.  Of equal importance is optimizing the client experience.  Executed successfully, this type of innovation will result in phenomenal business rewards.

Is this disability income protection trend an opportunity wave you should ride?

When reviewed more closely, Disability Income Protection placements within the context of employee benefits programs is a triple-win scenario for today’s economic environment.

The employer wins because it enhances the ability to attract, retain and recruit employees.

The employee wins as they are provided easy and efficient access to more adequately protect their most valuable asset, the ability to earn income.

The advisor wins because these new product placements drive new revenue and deepen the engagement with the customer. 

If your clients believe in providing traditional group long term disability coverage to their employees, they will likely engage in a discussion pertaining to enhanced disability income protection for executives and key contributors.

In an April 2018 article featured in Think Advisor titled, “Maybe Employers Are Ready to Be Aware of Disability Insurance”, Allison Bell cites comments on two major disability insurance companies’ recent earnings calls that securities analysts see increased employer interest in adding to disability benefits. This is thought to be attributed to the current state of the U.S. economy where near full employment levels have convinced employers that they have to do more to attract and retain good workers.

How can you position this opportunity?

  1. Focus On Incentive-Based Compensation - Most group long term disability insurance programs insure only base salary. However, most executives, sales professionals and other key contributors within an organization are compensated beyond base salary alone. Bonus, ownership distributions, stock bonus plans, and other fringe benefits add up to a significant portion of income uninsured by the group disability insurance program. When disability occurs without any other form of planning beyond a group program, these valuable employees are left in a devastating financial state, drastically disrupting their lifestyles.
  2. C-Suite Engagement. Although disability income programs are often implemented by an HR Team, they may not always have influence to make company decisions or recommendations for benefit programs. These programs are most successful when the executive team is engaged in the initial discussions for development. Focus on your clients where you have a strong relationship with the C-Suite to gauge their interest. After all, they are the most likely to benefit from this type of disability income protection program.

A Life Happens recent study called “What Do You Know About Disability Insurance?” concluded 7 in 10 employed Americans would have trouble in a month or less if they couldn’t earn a paycheck. This statistic emphasizes the importance of disability income protection insurance and why advisers need to be talking to clients about their options.

 

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Opioids in America | California Benefit Advisors

Lately, there’s been a big focus on America’s opioid addiction in the news. Whether it’s news on the abuse of the drug or it’s information sharing on how the drug works, Americans are talking about this subject regularly. We want to help educate you on this hot topic.

Check out this short video on Opioids to learn more!

Disability Insurance

“Your most valued asset isn’t your house, car, or retirement account. It’s the ability to make a living.”

No one foresees needing disability benefits.  But, should a problem arise, the educated and informed employee can plan for the future by purchasing disability insurance to help cover expenses when needed.

When you ask people what is the number one reason disability insurance is needed, most will answer that it is for workplace related injuries. However, the leading causes of long-term absences are back injuries, cancer, and heart disease and most of them are NOT work related.   In addition, the average duration of absences due to disability is 34 months.  So how do you prepare for an unplanned absence from work as a result of an injury or illness? Disability insurance is a great option.

Disability insurance is categorized into two main types.

·      Short Term Disability covers 40-60% of the employee’s base salary and can last for a few weeks to a few months to a year. There is typically a short waiting period before benefits begin after the report of disability.  This plan is generally sponsored by the employer.

·      Long Term Disability covers 50-70% of the employee’s base salary and the benefits end when the disability ends or after a pre-set length of time depending on the policy. The wait period for benefits is longer—typically 90 days from onset of disability.  This plan kicks in after the short-term coverage is exhausted. The individual purchases this plan to prevent a loss of coverage after short-term disability benefits are exhausted.

While the benefits of these disability plans are not a total replacement of salary, they are designed for the employee to maintain their current standard of living while recovering from the injury or illness. This also allows the individual to pay regular expenses during this time.

There are many ways to enroll in a disability insurance plan. Often times your employer will offer long-term and short-term coverage as part of a benefits package. Supplemental coverage can also be purchased.  Talk with your company’s HR department for more information on how to enroll in these plans.  Individuals who are interested in purchasing supplemental coverage can also contact outside insurance brokers or even check with any professional organizations to which they belong (such as the American Medical Association for medical professionals) as many times they offer insurance coverage to members.

As you begin planning for your future, make sure you research the types of coverage available and different avenues through which to purchase this coverage. For more information on disability and the workplace, check out:

·      Americans with Disabilities Act

·      The National Organization on Disability

·      Council for Disability Awareness

·      Social Security Administration

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