EAP – The Benefit You Might Be Forgetting
By Alison Nelson, Employee Benefits Account Manager
Many employers offer a Long-Term Disability (LTD) policy to their employees, which allows people to maintain a portion of their income if they are no longer able to work. But did you know that most LTD policies include an additional benefit that can be used, even if you don’t have an LTD claim? This benefit is called an Employee Assistance Program.
An Employee Assistance Program (EAP) is a confidential program that allows you, or anyone in your household, to talk to a professional for any number of things that could impact your mental or emotional well-being. EAPs are a fantastic resource for counseling, stress-management, personal and professional relationships, grief, trauma, and so much more. If a family member become diagnosed with a serious illness, you can contact your EAP for help managing that stress and finding resources for that family member.
Most people don’t think about their Long-Term Disability policy unless they need it, which makes it easy to overlook the associated benefit of an EAP. Even if you don’t have an LTD policy, it’s worth checking with your Benefits Administrator to see if you have an EAP available to you. Mental health is something I’m very passionate about (I even wrote two blogs about it, here’s Part One and here is Part Two). I believe incredibly important to provide resources that aid in the mental and emotional well-being of employees and their families.
Not only does an EAP assist employees, it can help businesses to increase productivity and reduce employee absenteeism! After all, an engaged and productive employee is healthy AND happy. Here is an article that dives into the benefits of an EAP, which can be an all-around win-win. If you’d like to learn more, please don’t hesitate to reach out to RISQ Consulting!
- Published in Blog
28% of Employers Consider Covering FDA-approved Weight Loss Drugs
This article is from RISQ Consulting’s Zywave client portal, a resource available to all RISQ Consulting clients. Please contact your Benefits Consultant or Account Executive for more information or for help setting up your own login.
An annual report by pharmacy benefit consulting company Pharmaceutical Strategies Group (PSG) found that 43% of employers currently cover FDA-approved weight loss medications, while 28% are considering doing so in the next one to two years.
The report surveyed over 150 employers and health plans. Smaller and larger employers are nearly equally likely to be currently covering these medications (42% and 40%, respectively); however, small employers are less likely to be considering this coverage compared to larger employers (20% and 36%, respectively). Many employers are familiar with popular weight loss drugs, such as Wegovy and Mounjaro, and an increasing number of health plans are starting to cover FDA-approved weight loss drugs in response to employee desires.
Although the American Medical Association recognized obesity as a disease in 2013, employers are divided on whether it’s a lifestyle condition that should not be covered (24%) or a chronic condition that should be treated (21%), according to the PSG report. The top reason employers decided not to cover FDA-approved weight loss drugs was because they consider the medications to be lifestyle drugs. Other reasons employers excluded weight loss drugs include:
- The medications are too expensive, often costing more than $10,000 per individual per year.
- There are concerns that the medications may not lead to long-term weight loss.
- The medications would need to be taken for an indefinite duration.
Regarding employers who cover FDA-approved weight loss drugs, the report found that 22% of employers require employees to participate in a lifestyle modification program in order to be eligible for the drugs. For 20% of employers, participation in such programs is voluntary. Of employers who cover weight loss medications, only 16% currently measure the outcomes of these drugs. However, 36% plan on implementing such measures in the future. The report also found that 50% of employers who measured outcomes of weight loss medication were somewhat or very satisfied versus 20% who were dissatisfied.
Even though employers can put limitations on weight loss medications coverage, such as cost or duration of treatment limits, only 14% have done so.
Employer Takeaway
The popularity of weight loss drugs has reached a fever pitch in the United States, with more employees inquiring with employers about these medications. As a result, employers are faced with the difficult decision of whether to cover these expensive medications.
The PSG report shows that employer responses to the rise of weight loss medications differ. Understanding these trends can help employers decide what’s best for their organizations and their benefits plans.
Contact RISQ Consulting for more employee benefits resources.
- Published in Blog
How Technology Can Boost Workplace Safety
This article is from RISQ Consulting’s Zywave client portal, a resource available to all RISQ Consulting clients. Please contact your Benefits Consultant or Account Executive for more information or for help setting up your own login.
More than 14 people per day died while doing their jobs in 2016, highlighting the need for safety and procedural enhancements in the workplace. Employers are starting to embrace new technology in an effort to improve worker safety, including the following:
- Exoskeletons—Workers can wear exoskeletons to transfer weight from repetitive tasks and use less energy when moving objects. The result is a reduced risk of injuries as well as increased strength, dexterity and productivity.
- Virtual reality—This technology replicates physical environments and presents training opportunities for employees. It also allows workers to simulate hazardous tasks and identify safety needs. More benefits are expected as technology matures.
- Wearables—Wearable devices offer real-time monitoring of workers’ vital signs and can alert workers to the presence of environmental dangers. They can also cut health care costs by reducing health risks such as respiratory problems, cancer, dermatitis and hearing damage. An added bonus to employers is that wearables can provide an idea of what may have caused an employee’s injury before filing a workers’ compensation claim.
- Hand-held mobile devices—Although the use of mobile devices can be a distraction and safety liability, there are useful apps that detect safety hazards, log safety incidents, track OSHA requirements and even determine when the heat index is too high on job sites. The key to improving worker safety with hand-held mobile devices is using them responsibly.
- Drones—Sending drones into high-hazard areas instead of humans helps safely assess damage and plan emergency response.
INCORPORATING DATA SCIENCE
Aside from new devices, data science has enabled companies to analyze photos from job sites and then scan them for safety hazards, using an algorithm that correlates those images with their accident records.
Although the technology still needs some fine-tuning, companies can use such algorithms to rate project risks. As a result, the technology could prove extremely helpful in detecting elevated threats and then intervening with safety briefings.
TIME TO GET ON THE CLOUD
By using the cloud, companies have been able to completely overhaul the way they interact with each other and with their workers. The cloud consists of multiple networks of servers that allow apps to be accessed anywhere through the internet instead of confined to a particular computer or network.
Businesses that have projects and crews in multiple locations especially appreciate the benefits of the cloud, since it is efficient and allows for the seamless transfer of information and monitoring of workers’ safety.
SUCCESSFULLY DEPLOYING NEW TECHNOLOGY
New technology can be a waste of money if it is not deployed properly. It’s easy to get caught up in the “wow factor” of technology and lose sight of what the intended improvements are. Without a plan in place for deployment, this technological investment may be wasted.
Before seeking out new technology, consider ways to improve workplace processes. After improving these processes, it is easier to identify gaps that new technology can address. No amount of technology will help if it is processes that need to be fixed.
- Published in Blog
Endpoint Detection and Response Explained
This article is from RISQ Consulting’s Zywave client portal, a resource available to all RISQ Consulting clients. Please contact your Benefits Consultant or Account Executive for more information or for help setting up your own login.
Endpoint detection and response (EDR) is a cybersecurity solution that continuously monitors security-related threat information and endpoint data to detect and respond to ransomware and other kinds of malware. It provides visibility into security incidents occurring on endpoints—such as mobile devices, desktop computers, laptops, embedded devices and servers—to prevent damage and future attacks. This article discusses the importance of EDR solutions, how they work and the types of threats they can detect.
The Importance of EDR Solutions
According to the Identity Theft Resource Center, nearly 294 million people were impacted by 1,682 data breaches at U.S. corporations in 2021. As cyber threats grow more sophisticated and frequent, and remote work more common, these advanced attacks have become more difficult to identify in real time. Therefore, it’s important for organizations to prioritize cybersecurity measures that can deflect, analyze and respond to the constant barrage of cyberattacks. EDR solutions can provide a number of features that improve an organization’s cybersecurity risk management, including:
- Improved visibility—EDR solutions continuously collect data and analytics before compiling them into a single, centralized system. These insights can give security teams full visibility into the state of a network’s endpoints from a single console.
- Rapid investigations—Since EDR solutions automate data collection and processing, security teams can gain rapid context regarding incidents and take steps to quickly remediate them.
- Remediation automation—Security teams can allow EDR solutions to automatically perform certain incident response activities based on predefined rules, enabling them to block or rapidly remediate incidents.
- Contextualized threat hunting—The continuous data collection and analysis provided by EDR solutions can allow threat hunters to identify and investigate potential signs of an existing issue.
How Do EDR Solutions Work?
EDR solutions offer advanced threat detection, investigation and response capabilities—including incident data search and investigation triage, suspicious activity validation, threat hunting, and malicious activity detection and containment—by constantly analyzing events from endpoints to identify suspicious activity. These tools provide continuous and comprehensive visibility into what is happening in real time by recording activities and events taking place on endpoints and all workloads. By generating alerts, security teams can uncover, investigate and remediate issues. The primary functions of an EDR security system include:
- Monitoring endpoints and collecting activity data
- Analyzing data to identify threat patterns
- Using behavioral analysis to detect anomalies
- Removing or containing identified threats
- Notifying security personnel
- Researching identified threats and searching for suspicious activities
Overall, EDR solutions can be used to shorten response times for incident response teams and eliminate threats before damage is done.
What Types of Threats Do EDR Solutions Detect?
EDR is an integral part of an organization’s complete information security posture. It can detect the following threats to a network:
- Malware, including spyware, ransomware, viruses and bots
- Misuse of legitimate applications
- Stolen user credentials
- Suspicious user activity and behavior
- Fileless attacks during which malicious software is not installed and therefore more likely to be missed by anti-virus tools
Conclusion
EDR solutions are helpful in protecting both the enterprise and the user while also adding value to a company’s integrated approach to cybersecurity.Furthermore, they are frequently required by insurance underwriters in order to obtain cyber insurance. For more risk management guidance, contact us today.
- Published in Blog
KFF Survey Provides Insights Into Consumer Experiences With Health Insurance
This article is from RISQ Consulting’s Zywave client portal, a resource available to all RISQ Consulting clients. Please contact your Benefits Consultant or Account Executive for more information or for help setting up your own login.
A recent health care consumer experiences survey by Kaiser Family Foundation (KFF) found that most insured adults feel positively about their health insurance, with 81% rating their insurance as either “excellent” or “good.” Individuals with fair or poor health rated their insurance lower (68%). Medicare received the highest positive ratings at 91%. The survey relied on interview data from 3,605 U.S. adults with employer-sponsored health care, Medicare, Medicaid or Affordable Care Act (ACA) Marketplace coverage.
While most adults rated their insurance positively, 58% reported encountering at least one problem using their coverage in the past year, with a larger percentage of individuals (67%) with the greatest health care needs reporting similar issues. Problems included denied claims, difficulty finding in-network providers, and delays or denials of care due to preauthorization issues. Nearly 17% of insured adults said they were unable to receive their recommended care because of these problems, with 15% reporting a decline in their health and 28% paying more than expected.
Other key findings include the following:
- Adults with worse physical or mental health were more likely to report having problems with their health insurance. Of individuals who received mental health treatment in the past year, 74% reported a problem. Additionally, 78% of individuals with more than 10 health care provider visits in the past year said they experienced problems using their health insurance.
- Many insured adults did not receive needed mental health services or medication. Nearly 43% of insured adults who reported being in “fair” or “poor” health stated they did not receive mental health services or medication they needed in the past year, with 45% rating their insurance negatively when it came to available mental health providers. Approximately 40% of individuals skipped or delayed care in the past year due to costs.
- More than one-third (36%) of insured adults struggle to understand their health insurance. About half (51%) of adults said they find at least one aspect of their health insurance at least somewhat difficult to understand. Moreover, approximately 90% of adults support public policies to make health insurance simpler to understand—such as easier-to-read explanation of benefits, disclosures of claim denial rates and advance notice of whether care is covered and out-of-pocket costs—and help individuals avoid or resolve insurance problems.
“The survey shows that the sheer complexity of insurance is as big a problem as affordability, particularly for those with the greatest needs.”
– KFF President and CEO Drew Altman
Employer Takeaways
This survey confirms what many employers already know: Most employees value having health coverage. However, it also reveals that many individuals have issues when trying to use their coverage. These problems are more pronounced among individuals with poorer health, high utilizers of health care and people who receive mental health care.
The survey also uncovers potential barriers that may prevent adults from receiving needed physical and mental health care services, such as in-network provider issues, difficulties understanding health insurance policies and high costs related to care. While the U.S. Congress has taken steps in the last few years to make health insurance more affordable and easier to understand, employers are uniquely positioned to help employees understand and effectively use their health plans. A better understanding may help employees increase their health care literacy and improve their health and well-being.
Contact RISQ Consulting for more health care resources.
- Published in Blog
Travel Essentials
By Alison Nelson, Employee Benefits Account Manager
With the gloomy weather we’ve been having lately, you may find yourself with the hankering to travel to warmer destinations. This past Spring, I found myself chasing the sunshine across the world and, in preparation for my travel, I found myself overwhelmed with all the products touted as a “must have”. Some items were lackluster while others are newfound staples on my to-pack list. To ease you of the same trial-and-error turbulence, below is a list of items I found to be worth it, and hopefully you do too.
- Travel Insurance with Petersen International
- Travel Insurance is a must when visiting overseas. There are so many unknowns that can come up when traveling and this will help give you immense peace of mind. Deductibles are flexible and expenses such as hospital stays, medical evacuation, trip cancellation and even lost luggage are eligible for coverage. I highly recommend contacting RISQ for a quote.
- My Favorite Carry On Bag
- This carry on bag not only conveniently attaches to rolling carry-ons or suitcases, but it expands as needed. I always keep the bag smaller as I head to my destination and then I expand it on the way back to fit anything I may bring back with me.
- Memory Foam Neck Pillow
- I don’t know about you, but sometimes I use my neck pillow and sometimes I don’t. This often leaves me with the conundrum of not wanting to waste precious space in my carry-on, which is why I love this portable neck pillow! It’s super comfy and fits in a convenient bag.
- Cord Organizer
- Since it seems like every device needs its own charger, this cord organizer has spared me from having to detangle all my charging cords and makes them easier to find.
- Portable Charger
- I like this portable charger since it has two USB ports so I can charge two devices at once. Since most places wont ship portable chargers to Alaska, this one has the added bonus of usually being in-stock at Target.
- Eye Mask
- While I don’t have this exact pair, I have a very similar one and love it. Not having the fabric touch my eyes makes it so I forget I’m even wearing them.
- Compression Packing Cubes
- These packing cubes are a lifesaver when I inevitably pack too many clothes or buy too many souvenir shirts. I can pack them in a cube then compress out the air to ensure everything still fits in my suitcase!
- Luggage Scale
- If you’re not an over-packer you can probably skip this one. But if you’re like me, this nifty device has saved me from having to repack my suitcase in the luggage drop-off line on more than one occasion.
- Laundry Bag
- Keeping dirty and clean clothes separate while travelling can be a pain so this laundry bag is a good way to keep things organized.
- Travel Mirror
- I have found that often times the only mirror is in the bathroom, so getting ready is just a lot easier with access to another mirror with good lighting.
- Toiletry Bag
- My favorite toiletry bag is a convenient way to make sure all your toiletries are in one spot and that they don’t spill in your suitcase. Need I say more?
Enjoy and safe travels! 😊
- Published in Blog
Strategies for Identifying and Resolving Gaps in Benefits Offerings
This article is from RISQ Consulting’s Zywave client portal, a resource available to all RISQ Consulting clients. Please contact your Benefits Consultant or Account Executive for more information or for help setting up your own login.
In today’s competitive employment landscape, many organizations recognize that employees are their most valuable asset. To attract and retain top talent, employers must go beyond competitive salaries and create holistic and meaningful employee benefits packages that address diverse workforce needs.
Understanding and addressing any gaps in employee benefits is crucial for employers who aim to create an engaged, supported and satisfied workforce. Well-rounded benefits packages often translate to enhanced employee well-being, boosted retention rates and a positive work culture.
This article highlights proactive steps employers can take to assess and identify gaps in employee benefits offerings.
Employer Considerations
Identifying gaps in benefits offerings can be a complex task, as it requires a careful assessment of employee preferences, trends and organizational resources. Consider the followings strategies for identifying and addressing these gaps:
- Review existing benefits. Start by reviewing the current employee benefits package. While taking inventory of benefits, organizations should assess if they offer the basics (e.g., health insurance, sick and family leave) or anything unique compared to competitors or other employers in their industry. This is also a good time to review benefits utilization to better understand if there are any benefits that employees do not or rarely use.
- Analyze employee demographics and specific needs. Demographics, such as age, gender and marital status, can influence employees’ preferred benefits. Recognize that those needs can shift over time, so this is an ongoing exercise.
- Gather employee feedback. Conduct surveys, focus groups or collect feedback through other methods to gather information and opinions directly from employees. Employers could inquire about employee satisfaction with existing benefits, what they value most and if there are any benefits they feel are missing from their package or that could be improved.
- Benchmark against industry standards. Research industry standards and best practices to understand what benefits competitors, and similar or local organizations provide. This can help employers identify any gaps in their offerings compared to competitors.
- Explore emerging trends and employee preferences. Stay informed about employee benefits trends. Current trends include flexible work arrangements, mental health support and student loan assistance. This is also the time to consider employee feedback results and reported preferred benefits.
- Prioritize benefits based on budget and resources. While employers may be faced with a long list of attractive or preferred benefits, the reality is that they must also consider organizational finances and resources to determine the feasibility of new or different offerings. It may be helpful to prioritize the benefits that would have the most significant impact on employee satisfaction and overall well-being.
- Communicate changes effectively. Employers should ensure clear and effective communication with employees when introducing or modifying benefits. Education is critical to utilization, so employers should clearly describe any changes, provide their rationale and explain how benefits changes align with employee feedback, emerging trends or organizational goals.
- Monitor and reassess. Benefits needs and preferences change over time, so it’s important for employers to regularly monitor the utilization and effectiveness of offerings. If drastic changes were made, checking in with some employees to gauge their feedback could be worthwhile. Lastly, keep the conversation going with employees to keep a pulse on their preferred benefits and reassess available options to ensure they meet evolving needs.
Summary
Savvy employers continually evaluate their existing benefits, gather employee feedback, benchmark against industry standards and strategically address any identified gaps. By periodically reassessing benefits offerings, employers can ensure they remain competitive in the labor market and meet the evolving needs of the workforce.
By taking a proactive approach to understanding needs and preferences, organizations can create benefits packages that truly support current and prospective employees. This concerted effort can lead to increased workplace engagement and satisfaction, and, ultimately, organizational success.
Contact RISQ Consulting for additional employee benefits guidance.
- Published in Blog
Monitoring Snow Loads to Protect Structures
This article is from RISQ Consulting’s Zywave client portal, a resource available to all RISQ Consulting clients. Please contact your Benefits Consultant or Account Executive for more information or for help setting up your own login.
Major snow events can impact the integrity of a structure, making it imperative for commercial property owners to understand their building’s characteristics and structural system prior to the start of the snow season. Having familiarity with the building structure can help owners determine if any changes occurred during a major snow event and if repairs are necessary. This article discusses key building information owners should be aware of, what to look for during a pre-season inspection and warning signs of a building in duress.
Key Building Information
A commercial property owner’s knowledge of their building could be the difference between getting through a major snow event safely or experiencing structural failure. Property owners should know the following regarding the current condition of the structure:
- Applicable building codes
- Design snow load
- Structural framing system
- Thermal properties
- Renovation history
Pre-season Inspection
A proper commercial building inspection can reveal the actual condition of a property and give owners the opportunity to fix any problems before the snow season begins. To mitigate damage and identify any potential issues, commercial property owners should:
- Perform a detailed inspection. Check for cracks, split seams, buckling, loose parts, staining, mold and rot while inspecting:
- Surface membranes
- Roof vents
- Flashing
- Field tears
- Gutters
- Drainage pipes
- Clean debris. Ensure the roof is clear of debris, including fallen branches, leaves and garbage. Debris can prevent water from draining, allowing snow to buildup and cause water damage or add weight to the structure.
- Look for pooling water. Keep an eye out for areas where water pools, as this could be an indication of a clogged drain or slow-draining line.
- Check the flashing. Inspect the flashing—the thin material used to direct water away from certain areas on the roof—before winter for cracks or crevices that would allow water to enter.
- Inspect the downspouts. Ensure downspouts are properly attached to the gutters, clear of debris and that their termination bars are sealed.
While these can all be inspected regularly by the owner or an employee, utilizing a certified roof inspector who knows what to look for can help ensure the roof is in good condition before any major snow events occur.
Warning Signs of Duress
Roof decks or framing that is under duress from snow loads typically display warning signs. Commercial property owners should watch for the following signs in wood, metal and steel constructed buildings:
- Ceiling tiles or boards that are sagging or falling out of the ceiling grid
- Sprinkler lines and sprinkler heads that are sagging or deflecting below suspended ceilings
- Roof members, such as metal decking or plywood sheathing, that are sagging
- Doors or windows that no longer open or close
- Wood members that are cracked or split
- Walls or masonry that are cracked
- Truss bottom chords or web members that are bowing
- Popping, cracking and creaking noises
If any of these warning signs are observed, the building should be promptly evacuated, and a detailed structural inspection should be conducted by a qualified professional.
Conclusion
Major snow events can cause a lot of damage to a commercial structure, especially if it hasn’t been properly inspected and maintained. Therefore, commercial property owners should ensure that their building is prepared for winter weather by inspecting the structure and making any necessary repairs. For more information, contact us today.
- Published in Blog
Thanksgiving FAILS – A Day You’ll Be Most Thankful For Insurance!
By Jennifer Outcelt, Creative Content Architect
We like to think of Thanksgiving as a wholesome day with family and friends enjoying each other’s company and extolling the many blessings we have had throughout the year. But in reality, it is often a day of great stress. Aren’t you thankful for having to clean your entire home, cook a ginormous meal that needs to all be done at the same time, do a ton of dishes, and make happy conversation with all your family (even though great Aunt Gladys is a bit of a wrench)? All while trying not to let on that you are one “So, when are you having more kids?” question away from a complete breakdown. Yeah, there may be a ton to be thankful for at Thanksgiving, but some things… not so much.
But if you are trying to out-do your brother-in-law’s brined and herbed turkey spectacular from last year by trying your hand at that whole fried turkey thing (how hard could it be?), then there’s one thing that you will definitely be thankful for; Insurance. Apparently, “firefighters responded to 1,630 home cooking fires on Thanksgiving in 2018 (the latest data available)—250% above the year’s daily average of 470.” That’s a ton of not-so-well-done birds!
Check out these interesting stats about holiday cooking fires and the home owner’s insurance that could save your rump!
https://www.forbes.com/advisor/homeowners-insurance/thanksgiving-fires/
- Published in Blog
