Editor’s Note: The Rising Health Care Costs and Changing Employee Benefits Landscape

The Covid-19 pandemic has put health care at the center of the global battle against the unprecedented crisis. The pandemic coupled with the disruptions at work has influenced rising healthcare costs and led to increased physical health, mental health, and substance use issues. As a result, benefits plans need to look different from those of the past to attract and retain the best talent today. While offering new benefits comes with added costs, the upside includes increased employee well-being, greater productivity, fewer absences, and lower turnover.
 

How has the pandemic changed employee benefits for the better? Why long-term protection against specialty drug claims is necessary? How can employers make innovative improvements to their benefits programs, education efforts, and technology stack to meet the evolving needs of their workforce? Read the April issue of Employee Benefits & Wellness Excellence that includes answers to all these questions and more.   

Pharmacy is used more than any other employee benefit, which makes it critical to talent acquisition and retention. But it has also become a more costly benefit. How can brokers help their self-funded employer clients meet member needs without fearing a catastrophic pharmacy claim? Paul Fortunato's article, Rising Costs Of Specialty Drugs And Strategies Employers Need To Combat Them, shares key strategies to deal with this issue.

As we continue to navigate through the pandemic, new workplace culture has surfaced, one that has evolved from a focus on achievement to a focus on fulfillment. What steps can employers take to improve their benefits programs? Scott Fintzy’s article, Meeting The Needs Of A “New” Workforce During The Great Resignation, offers key insights on this topic.

Substance use disorders (SUD) are among the most common and costly health conditions affecting Americans, and opioid misuse alone costs the U.S. more than $1.3 trillion per year. Health e(fx)'s Allison Brown, in her article, Why Employers Should Address The Recent Spike In Drug Misuse And Overdose With Employees, highlights the importance of offering employee benefits that address substance misuse.

Dr. Don Brown’s article, The Evolution Of Health And Wellness Benefits, explores the evolution of health and wellness benefits and provides insights into why employers are revisiting their offerings to include holistic health programs.

In brief,  employee wellbeing is at the center of the hybrid-workplace discussions and as employees have expansive employment options, expanding benefits will be necessary for keeping them happy and engaged.

Do not miss the other great articles featured this month and we hope the valuable insights can help you address future workforce challenges and plan your benefits and wellness strategies that align with your company’s goals.

As always, we look forward to your valuable suggestions and feedback on our publications

Happy Reading!
 

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