Industry Insights
5 Myths About Self-Funded Healthcare Plans—Debunked
The “BUCA” insurers—Blue Cross Blue Shield, United Healthcare, Cigna, and Aetna—have long controlled the U.S. healthcare market, leaving employers with rising premiums, stagnant care, and few alternatives.
The Invisible Fence: How to Build a Bridge Between Employees and HR
Imagine you’re an employee with a well-documented and legitimate complaint of sexual harassment. You present your case to Human Resources (HR) expecting them to take appropriate action and instead get handed a buyout package?
On the highway of hiring and retaining Gen Z talent, who's driving the car?
IWhat we know right now is that companies are creating and offering seemingly endless benefits to woo new talent before the competition snatches them up.
Retaining Top Talent in 2024: Elevating Employee Benefits Beyond the Money Motive
The arena of employee retention and recruitment is witnessing a significant shift. For business leaders, it's imperative to grasp the changing priorities within the workforce to craft an effective benefits strategy.
Weighing Your Options: Should GLP-1s Be Added to Your Employee Benefits Plans
Now that GLP-1 receptor agonists such as Ozempic, a semaglutide, have proven to be an effective treatment for obesity and diabetes, the pharmaceutical drug has become increasingly popular as a weight loss solution.
Harnessing Price Transparency to Optimize Self-Funded Employee Healthcare Programs
Navigating the complexities of healthcare costs is particularly challenging for businesses with self-funded employee healthcare programs.
Why High-Deductible Healthcare Plans are Losing Popularity with Employers and Employees
In recent years, high-deductible health plans (HDHPs) emerged as a prevalent choice for employers seeking to manage healthcare costs. It became an attractive option for both the organization and its employees — lower premiums in exchange for higher out-of-pocket costs.
Talking Politics (Or Not): How to Negate Conflict and Foster a Respectful Workplace Environment
Political discourse. Trigger language. Cancel culture. Political tribes. Our exposure and experience with this across all media is bad enough at home and outside the workplace.However, when the conversation spills into the workplace, it can feel like a trap.
Navigating Rising Healthcare Costs: First Step is Preventative Care
If you are not supporting the education and awareness of preventative care to your employees, you are contributing to the increase of your annual premiums!
Creating a Compassionate Workplace: The Business Case for Mental Health Programs
In today's fast-paced and competitive work environment, mental health has become a critical issue that significantly affects employees and the overall workplace — and the problem isn’t going away or getting better.
Why Business Leaders Need to Prioritize Employee Benefits Literacy
Business leaders put a lot of time, energy and budget into offering healthcare benefits plans that check all the right boxes. It’s a critical part of running a successful business, both helping you attract quality talent to your company and keeping your workforce healthy and productive.
Navigating the Top Five Business Challenges of 2024
Halfway through 2024, the business landscape continues to evolve. Companies face a mix of opportunities and risks, requiring strategic agility and adaptability. Let’s delve into the top five business concerns and explore solution-oriented goals.
Supporting Employee Mental Health: A CEO's Guide
A CEO’s caretaking extends beyond business metrics and financial goals. It also encompasses the well-being of employees. In today’s post-COVID world, with its workplace and home life challenges, mental health issues are prevalent, and CEOs play a uniquely critical role in fostering a supportive workplace.
How Independent Healthcare Consultants
are Helping SMBs Attract and Maintain Workers
The Great Resignation, The Big Quit, The Great Reshuffle. Those were the headlines just a short time ago, when unprecedented numbers of workers left their jobs for better opportunities, including better pay and better benefits. Now, as the job market tightens, CEOs face bloated payrolls, forcing them to make tough decisions, including painful layoffs that drive down efficiencies and stymie growth.
Harmonizing Your Workplace: The Power of Collaboration
In the intricate symphony of the workplace, collaboration emerges as the key melody that brings harmony to the entire composition. The power of working together, leveraging the collective expertise of your team, can smooth out the bumps in the road and create an environment of seamless collaboration.
Navigating Family Travel: A Senior Management's Guide to Safety
As a senior executive, the juggling act between personal and professional responsibilities is a constant challenge. When it comes to traveling with your family, prioritizing safety becomes paramount. Taking proactive measures is crucial to ensure the well-being of your loved ones.
Earnings Before Interest, Taxes, Depreciation and Amortization: How to Grow EBITDA from Your Benefit Plans
In the dynamic realm of business finance, the pursuit of maximizing EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) is a constant challenge. One impactful avenue to achieve this objective is through a strategic alignment of your benefits plan with cost optimization and value maximization. Let's delve into actionable strategies that can significantly enhance your EBITDA through effective benefits management.
How Reducing Stress Can Save on Healthcare Costs
In today's fast-paced corporate landscape, the issue of workplace stress has gained considerable attention. Apart from its impact on employee well-being, workplace stress significantly affects an organization's healthcare costs. Senior management, being an integral part of the solution, has the power to influence and implement strategies that mitigate workplace stress, ultimately leading to substantial savings on healthcare expenses. Let's delve into how reducing workplace stress can be a strategic approach towards cutting healthcare costs and fostering a healthier, more productive work environment.
How AI is Impacting the Sales Process and Compensation
In the dynamic landscape of sales, the integration of Artificial Intelligence (AI) has emerged as a pivotal force, reshaping the fundamentals of sales compensation programs. Let's explore how AI is revolutionizing these programs and driving transformative changes in sales strategies and incentives.
Lower your golf score and your healthcare costs!
Golf, often considered the executive's playground, is not just a sport but a strategic business move. Many executives utilize the golf course as a setting to seal deals and build connections. What if we told you that integrating exercise into your business routine not only improves your golf score but also has a positive impact on your overall health and, consequently, your business's healthcare costs?
Why Calculating ROI on your Healthcare Spend is Important
In the complex world of healthcare management, organizations are increasingly realizing the need to measure the Return on Investment (ROI) on their healthcare spend. A C-Level strategic approach that involves tracking expenses, assessing interventions, and calculating financial outcomes is key to understanding the effectiveness of healthcare initiatives. So, how do you calculate a healthy ROI on your healthcare spend? Let's delve into the process.
Misalignment of Interests: Employee Benefit Brokers and their employer Clients
In the realm of optimizing employee benefits, a significant challenge often surfaces: the disparity in aligning the interests of benefit brokers with the overarching objectives of organizations. While employee benefit brokers serve as instrumental partners in shaping comprehensive benefits packages, achieving seamless synergy between their goals and the strategic vision of the companies they serve can pose substantial hurdles. Let's delve into the core aspects contributing to this misalignment and explore actionable insights to bridge this crucial gap.
Patrick Custenborder
Patrick Custenborder is a NextGen Benefits Adviser.
As a NextGen Benefits Adviser, Patrick implements effective cost-containment solutions, from managing high-cost drugs to identifying high-quality physicians, from utilizing advantageous direct provider contracts to providing cost-effective virtual care programs.
With strategies and plan designs backed by one of the industry's most respected teams of subject matter experts, you can place your unwavering trust in Patrick.
With Patrick's proven expertise and established track record, you can achieve substantial cost savings compared to conventional, status quo health plans from insurance companies and brokers.
pat@phelaninssolutions.com
(937) 214-1125
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