News Brief: U.S. Workers Are Satisfied With Their PTO, But Don’t Exhaust It
A new Harris Poll survey found that most employed Americans are satisfied with their company’s paid time off (PTO) policy;however, 3 in 4 said they didn’t use the maximum PTO permitted by their employer. According to the survey, most U.S. workers get between 11 and 30 PTO days yearly. Last year, the average employed American took 15 paid days off despite many being allowed more.
According to the Harris Poll survey, 76% of workers say, “I wish my workplace culture placed a stronger emphasis on the value of taking regular breaks and utilizing PTO.”
News Brief: Most College Graduates Are Confident They’ll Get a Job But Are Concerned About Job Security
According to Monster’s 2024 State of the Graduate Report, 82% of graduates are confident they’ll receive a job offer shortly after graduating, a 6% dip from 2023. Although most graduates think they’ll get a job, 77% are concerned about job security while they look for a new role. Since U.S. employers cut more than 90,000 jobs in March alone, layoffs are increasingly a concern for workers regardless of experience level.
“Some of the workplace aspects that this year’s graduates are most adamant about are work flexibility, mental health and career development.”
Scott Gutz, CEO of Monster
News Brief: Health Care Costs 254% Higher for Privately Insured Patients Than Those With Medicare
A new RAND report revealed that in 2022, private insurers paid hospitals an average of 254% more than what Medicare would have paid for the same services, a jump from 224% in 2020. The study found that 2022 prices for inpatient hospital facility services averaged 255% of Medicare prices, outpatient hospital facility services averaged 289% and associated professional services averaged 188%.
“The widely varying prices among hospitals suggests that employers have opportunities to redesign their health plans to better align hospital prices with the value of care provided. However, price transparency alone will not lead to changes if employers do not or cannot act upon price information.”
Brian Briscombe, leader of the RAND hospital price transparency project
News Brief: U.S. Employers Added 175,000 Jobs in April, Well Below Expectations
The U.S. Bureau of Labor Statistics (BLS) recently released its April Job Openings and Labor Turnover Summary. The report found that the economy added 175,000 nonfarm payroll jobs in April, well below the Dow Jones 240,000 estimate. To put this in perspective, the economy has added an average of 242,000 new positions a month over the past 12 months.
“This is the jobs report the Fed would have scripted.”
Seema Shah, chief global strategist, Principal Asset Management
News Brief: Survey Reveals Employees Want to Work in States with Reproductive Care Access
ResumeBuilder.com surveyed American workers to understand how public policies around reproductive care impact their attitudes toward legislation prohibiting in vitro fertilization (IVF) and willingness to work in certain states.
“Our survey, along with observations from my private practice, highlights a discernible trend: Individuals are increasingly evaluating their employment options based on how well they align with their health care needs.”
– Stacie Haller, ResumeBuilder’s Chief Career Advisor
News Brief: Anxiety Tops List of Mental Health-related Workplace Issues
Mental health provider ComPsych revealed that anxiety is the top mental health issue impacting workers. Nearly one-quarter(24%) of the individuals who contacted ComPsych for mental help assistance in 2023 were looking for help with anxiety.
“From the pandemic to ongoing conflicts in Gaza and Ukraine,civil unrest, an unpredictable economy and increasingly polarized political rhetoric surrounding elections, there is a persistent underlying feeling of apprehension and worry.”
– Richard Chaifetz, founder, CEO and chairman of ComPsych
News Brief: Over 70 Million AT&T Customers’ Data Exposed in Data Breach
On Saturday, March 30, 2024, telecommunications giant AT&T released a statement saying current and former customer data was exposed on the dark web.
“Based on our preliminary analysis, the data set appears to be from 2019 or earlier, impacting approximately 7.6 million current AT&T account holders and approximately 65.4 million former account holders,”
– AT&T Press Release
News Brief: Change Healthcare Cyberattack Causes Unprecedented Disruptions
On Feb. 21, 2024, Change Healthcare, a subsidiary of UnitedHealth Group (UHG) and one of the largest platforms for managing health insurance billing and payments in the United States, experienced a large-scale cyberattack. This attack forced the company to shut down over 100 services across its system for multiple weeks, affecting millions of health care providers and patients across the country.
“We continue to make significant progress in restoring the services impacted by this cyberattack. We know this has been an enormous challenge for health care providers and we encourage any in need to contact us.”
– Andrew Witty, CEO of UHG
Employers See Increasing Numbers of Lawsuits Over Deficient COBRA Notices
Employers are seeing an increase in lawsuits from former employees alleging deficient Consolidated Omnibus Budget Reconciliation Act (COBRA) election notices, with statutory penalties of up $110 per person per day. These lawsuits are generally class actions and can result in significant attorneys’ fee awards for successful ex-employees. The fact employers are struggling to comply with COBRA notice requirements means employers should brace for increased election notice litigation.
“The DOL is ‘keeping an eye’ on the need for additional COBRA guidance, but other issues have taken priority.”
– Elizabeth Schumacher, deputy director of the DOL’s Division of Regulations and Standards
Study Finds a 7,000% Increase in Telehealth Utilization During Pandemic
According to a new report, telehealth usage grew more than 7,000% during the first year of the pandemic. FAIR Health’s annual report studies health care indicators, prices and utilization trends. With the latest data, researchers tracked changes from 2015 to 2020 and noticed significant health care shifts.
“This year’s edition … opens a window on the impact of the COVID-19 pandemic on the nation’s health care system. We hope that this new edition … continues to inform decisionmaking throughout the health care sector by payors, providers, government officials, policymakers, academic researchers and others.”
– FAIR Health President Robin Gelburd
Client and Employee Resources
The more your employees understand your benefit plans the more they become educated, empowered consumers. The programs you provide will also gain an enhanced value.
As your strategic partners in employee benefits, we can provide multiple avenues of ongoing support, including:
- Employee Meetings (English and Spanish)
- Webcasts
- Payroll Stuffers
- Poster Campaigns
- Newsletters
Carrier Directories
E-Verify is a web-based system that allows enrolled employers to confirm the eligibility of their employees to work in the United States. Click the image below to begin.
