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Since the medical costs for diabetes reach into the billions each year, taking a chunk out of the cumulative cost of this disease would be beneficial in many ways. As most people know, the goal of disease management programs is to reduce the costs incurred by diabetes. To do this, these programs attempt to teach patients to control the disease. They learn the importance of monitoring cholesterol, blood pressure and blood glucose levels. Individuals with diabetes face similar challenges, treatment choices and the possibility of serious complications. This means that anyone who has diabetes can benefit from the offerings of a disease management program.

However, this is an issue where logic and science are not always in harmony. Many studies have shown that the majority of people with diabetes complications are less educated. Since they lack education, these individuals are more likely to hop from one treatment to another, which is a practice that may create even worse problems. One research study showed that patients who were less educated had two to three times as many incidences of coronary artery disease and end-stage renal disease. The researchers’ conclusion showed that less educated patients with lower socioeconomic status also had poor health management skills for themselves.

Education also plays an important role in the possibility of dying from complications. Research shows that individuals who did not finish high school have a death rate that is twice as high as the rate of death for diabetic patients with college degrees. It is also interesting to note that this factor remains true regardless of race, gender, age, obesity and other relevant factors.

For individuals who need it most, a disease management program will make a significant impact. This means that those who have the highest risk for complications will likely be the most impacted. These programs also have the highest ROI for groups with the largest amount of high-risk members. However, such programs have a lower return for groups filled with people who have college degrees.

Unfortunately, these statistics are not restricted to diabetes. In general, individuals who have a lower income, less education and a lower socioeconomic status face more health challenges. People who have higher education and earn a better income are more likely to get help, follow a treatment plan and learn to live with various diseases. To learn more about disease management and what it is about, discuss the options with one of our friendly agents.

Employers are making stronger efforts to educate their employees about health care and manage costs. However, they’ve also realized that encouragement alone is not enough to produce employees who are better health care consumers. In order to make their employees better health care consumers, employers must equip them with the incentive and tools to become what they need to be. For many companies, the answer to their problems has many facets. Health care consumerism requires education and tools for adequate exercising, eating a balanced diet, monitoring health numbers, avoiding smoking and taking the initiative to make changes when health numbers aren’t optimal. In addition to this, health consumerism involves employees being aware of the costs of health care and taking measures to lower those costs. Plan designing, communication and incentives are all important parts of the equation. There are several important issues to consider with this idea.

Helping Employees Care about Their Health. Employers are realizing that simply offering options to employees isn’t enough. They know that employees must receive incentives for doing something difficult that ultimately benefits the employer. In addition to providing employees with the necessary tools to become better healthcare consumers, employers must also give them a reason to use those tools. For example, many pharmacies have varying prices among brand-name drugs and generic equivalents. Educating employees about this difference is important. If they realize all their HSA fund allowance will be used to pay for the expensive name-brand drug, they’ll be more driven to shop smart and use the generic equivalent.

Implementing Consumer-Directed Plans. Many companies that are designing plans are using consumer-directed health plans with health reimbursement arrangements or health savings accounts. To learn how these plans work, discuss the details with us. Some employers are now offering more options for their employees. However, reaching optimal health and maintaining it is the overall goal. Many companies are realizing the importance of trying to run an active health plan to encourage a healthy lifestyle instead of just offering a sick plan to deal with illnesses.

Offering Attractive Incentives. The efforts employers have made to help their employees save for retirement with contribution plans are similar to their efforts to move employees toward better health care consumerism. The main similarity is that both plans involve a greater amount of responsibility being placed on employees. While they face more responsibilities, their employers use incentives to offer rewards for desired behavior. Just as employers use matching contributions to retirement plans to encourage participation, many are now offering contributions toward HSAs and HRAs to encourage participation and better health care consumerism.

Keeping on Track. In order to keep health care consumerism alive, employers must keep track of their efforts. This allows them to determine whether employees are changing their behaviors or not. Some companies have developed special systems for tracking progress. One company developed a helpful dashboard of metrics, which is reviewed monthly for success. It shows the progress of employees as they work toward earning incentives. It also shows interaction rates with health plan representatives through the company’s work sites. There are several ways to implement these valuable changes. To learn more, discuss the possible options with one of our agents.

Generation Y is filling up the workplace and the world. Employers who want to gather, engage and keep these workers must know their preferences and styles of communication. This is especially true in the aspect of workplace benefits. Employers’ ability to attract and keep these younger employees is becoming an important part of ensuring long-term success in business. The Baby Boomers are starting to retire in larger numbers and will continue to do so in the future. Since the younger generation has different needs, preferences and expectations, companies must approach benefit package designs in a different way. If employers resist these necessary changes, they could face losing employees and their competitive edge. This means they’ll be left behind in the business world, which is progressing faster each year. There are several things employers and HR managers need to consider about adapting to the new generation of workers.

Generation Y members are usually less financially stable. In comparison with older generations, the younger generation appears to be much more irresponsible with money and financial obligations. Almost half of the individuals in the younger generation pay bills late, have significant credit card debt and are not setting away money for financial emergencies. This generation also switches jobs frequently.

Generation Y prefers personal communication. While previous generations favored the traditional way of looking for benefits information in the workplace, the younger generation prefers personal communication. Although most people think this generation is constantly wired, they tend not to look online for resources. They feel that all resources and information should be brought to them. However, older workers are more likely to look for blogs, forums and other valuable sources of online information independently. The younger generation members are also more likely to ask family members or friends for such information.

Generation Y values strong benefits but they’re usually under-insured. Although most of the individuals in this generation think that benefits are the most important aspect of a job, they often have inadequate insurance. However, they’re the group of workers who are least likely to take advantage of insurance in the workplace. This includes Disability, Life, Accident insurance and major medical plans.

Opportunities for Benefits Communication

In the research for a clearer opportunity for employers to engage Generation Y workers, the research of benefits communication appeared. Workers in this generation usually rate employers unfavorably for the effectiveness of benefits they offer. There are several steps employers can take to boost the effectiveness of communication between themselves and these younger workers. The following are a few valuable suggestions:

• Implement one-on-one counseling.
• Employ several forms of communication.
• Make content interactive and engaging.
• Use the proper technology for the message.

As benefits decisions continue to shift toward employees, the workers of Generation Y will become more enthusiastic toward the information and products required to manage personal financial security. Employers have the opportunity to build a better ROI by properly evaluating the benefits they offer. They must also evaluate the methods of communication used to appeal to individuals who are part of Generation Y. By doing this, employers will enjoy a more engaged, productive and loyal workforce.

The month of October usually marks the beginning of open enrollment for American workers who want benefits. This is the time of year when employees are able to join, change or drop their benefits. Recent research shows that 80% of workers feel that the workplace is the key source for savings products and personal insurance. American workers are enrolling in benefit plans for life insurance, long-term care insurance and disability coverage. The amount of workers signing up for life insurance is well over 75%. However, the number signing up for disability coverage isn’t much higher than 60%. The amount of workers signing up for Long-Term Care insurance is less than 25%.

One of the most important things people considering benefits should do is take the necessary time to do research and consider their options. These steps are necessary in order to make informed decisions. Workers who are considering enrolling in plans should speak to a qualified agent to discuss their options and which ones are best. It’s also important to talk to partners and family members about long-term financial needs prior to deciding on benefits. There are several online tools that are valuable for determining individual needs. Many consumers are balancing various priorities and expenses in the tough economy. However, investing time in considering benefits is a vital step in the right direction. Taking control of financial security in the future is an important part of life that every working person should take seriously. Although nearly every person is aware of the importance of selecting benefits, less than 75% of Americans proceed as far as enrollment.

It’s not surprising that employees spend large amounts of time focusing on health care benefits prior to enrolling. Since the cost of health care is constantly rising, this is an important factor. Although it is an important consideration, it’s also crucial for employees to pay attention to securing enough coverage to protect themselves from the impact of long-term care or disability in the future. Research shows that nearly 30% of employees entering the workforce today will be disabled before reaching retirement age. Employers are a vital part of helping employees understand their benefit options. They are also needed to help determine which products are best for each individual. Employers must take all necessary steps to ensure that their employees are properly informed before making such vital decisions.

Research shows that several communication methods are used for conveying choices to employees. Workplace emails take the lead as the top choice. Group meetings during work hours and regular mail are also popular choices of communication. These three mediums are also the most preferred among American employees in the workforce. It’s important for employers to evaluate their individual workplaces to determine which communication methods are best for their employees. It’s best to choose the best one in order to avoid overloading employees with information. If this happens, they’re less likely to realize the value of what they’re being offered.