The holiday season is upon us which means we are all in a frazzled state trying to make our list and check it twice!  My mind – like yours – is not just full of work-related topics but also so many personal tasks.  Here are the top things taking up space in my brain (not all work related):

10:  Many of us have been running on some level of adrenaline over the last 22 months!  I have been listening to Unlocking Us (podcast by Brene Brown) and something she said really spoke to me: “After six to seven months of running on adrenaline, your surge capacity is maxed out and you need to find a new energy source.”  I’ve realized I don’t have a new energy source and I need to find it and that’s going to be a priority for me in 2022.

9. The status of federal paid leave within the Build Back Better plan is still unclear. I recently worked on a webinar that talked about how paid leave is an equity consideration.  That can be found here: http://resources.industrydive.com/why-americas-paid-leave-problem-is-a-diversity-equity

8. For those from the Constitution State…buckle your seat belt. Connecticut Paid Family Leave is ready to accept claims. Do not delay looking at your policies.  Make sure your internal programs are designed to run concurrently with paid statutory leaves whenever possible.  If you want access to Alera’s recent webinar, let me know!

7. The Kaiser Family Foundation (KFF) has released its 23rd annual Employer Health Benefits Survey (EHBS) and it indicates that average annual premiums for employer sponsored health insurance in 2021 were at $7,739 for singles and $22,221 for families. On average workers contribute 17% for single coverage and 28% for family coverage.  The full report is here:  https://www.kff.org/report-section/ehbs-2021-section-1-cost-of-health-insurance/

6. Data from KFF validated that employers across the board took many steps to help their members deal with mental and behavioral health benefits. Sixteen (16%) percent of employers developed new resources for employees, 31% expanded telehealth services and an estimated 4% waived or reduced cost sharing in this area.

5. There was a lot of discussion in 2021 about flexible time off (FTO) programs. If you are ending the year paying out or carrying over significant PTO liability…think about what you can do differently in 2022 to reduce that liability through policy changes and by encouraging use of time off.  Many employees are burnt out and need time away to recharge and be the best version of themselves for their co-workers and their families.

4. Employers are facing yet another round of COVID-related decision making. From vaccination mandates, benefits premiums, remote work and more, we are bringing you our survey results here on how businesses are tackling these issues.

3. Pharmacy costs continue to climb with a lot of attention on high-cost gene therapies that may have up to a $2.125M annual price tag per year. For self-insured employers, you need to be very thoughtful about how you handle these costs. More funding solutions are entering the market, but you need to think holistically.  For fully insured employers, make sure your renewals consider spreading these large claims (typically through pooling point) so it’s a more accurate reflection of your ongoing experience.

2. The No Surprises Act certainly feels like it will be full of surprises. Although carriers and TPAs seem “ready” to comply but nobody is exactly sure how it will work just yet or what cost impact we can expect.  So…that’s stressing me out!

1. The last item, which might encompass my entire list in January, is workforce planning.  We need to dig deeper into this great resignation and figure out how we retain top talent, plan for succession of employees, and encourage retirement when appropriate.  More to come on that…

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Teri Weber

Teri Weber

Partner at Spring Consulting Group, LLC
Teri Weber, ACI is a Senior Vice President with Spring Consulting Group. She has over 10 years of experience in health and welfare plan strategy, design, pricing, and implementation. She also works with absence management programs, including disability, family medical leave and leave of absence tracking. Her areas of expertise have allowed her to work with diverse employers and vendors to streamline processes and programs to meet the needs of insurers, administrators, employers and employees. Teri is on the Board for the New England Employee Benefits Council (NEEBC) and recently served as lead editor for the Disability Management Employer Coalition’s (DMEC) Return to Work Program Manual. Prior to joining Spring, Teri worked with Watson Wyatt, Buck Consultants and AON Consulting. In addition she was an Account Manager with Health Direct, Inc. Teri earned a BS at the University of Connecticut and a MBA at the University of Massachusetts. She holds an ACI designation and is a licensed broker in the states of MA and CT.