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Your Monthly
Newsletter from Integrated Benefit Solutions
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October 2019
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Deadline Approaching: Medicare Part D Notices Are
Due Before Oct. 15
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 Each year, Medicare Part D requires group health
plan sponsors to disclose to individuals who are eligible for
Medicare Part D and to the Centers for Medicare and Medicaid
Services (CMS) whether the health plan’s prescription drug
coverage is creditable. Plan sponsors must provide the annual
disclosure notice to Medicare-eligible individuals before Oct.
15, 2019.
What is this
notice?
This notice is important because Medicare beneficiaries who are
not covered by creditable prescription drug coverage and do not
enroll in Medicare Part D when first eligible will likely pay
higher premiums if they enroll at a later date. Although there are
no specific penalties associated with this notice requirement,
failing to provide the notice may be detrimental to employees.
What do
employers need to do?
Employers should confirm whether their health plans’ prescription
drug coverage is creditable or non-creditable and prepare to send
their Medicare Part D disclosure notices before Oct. 15, 2019. To
make the process easier, employers often include Medicare Part D
notices in open enrollment packets.
Resources
CMS has provided model disclosure notices
for employers to use. Employers are not required to use the model
notices from CMS. However, if the model language is not used, a
plan sponsor’s notices must include certain information,
including a disclosure about whether the plan’s coverage is
creditable and explanations of the meaning of creditable coverage
and why creditable coverage is important.
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Hold on to Talent With Stay Conversations
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 Some people think employment is all about the
money, but they’re wrong. For many, it’s about the opportunities.
In fact, Gallup cites “lack of development and career growth” as
the number one reason employees leave their workplace.
Employees expect some development opportunities, so ignoring this
outright can quickly lead to an exodus.
How can you ensure you’re offering suitable opportunities to keep
your employees happy? “Stay conversations” are a good way to
start.
What They
Are
Stay conversations are ongoing, informal meetings between
employees and their supervisors. They are intended to provide the
employee time to discuss their motivations and attitudes toward
their job.
In other words, you’re checking in with employees to make sure
they feel fulfilled and working together to find growth
opportunities.
Questions you’d ask in a stay conversation might include: What
about your work is most exciting? What aspect of your job are you
most passionate about? Do you feel like you are getting the
recognition you deserve? What are some of your career goals?
Planning for
Them
Stay conversations should be informal, but they should also be
scheduled in advance, so as to not startle the employee. They
should also be ongoing to show that you truly care about employee
growth. Don’t wait until employees are halfway out the door.
Start having these conversations right away!
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Employers Are Expected to Spend More on Health Care
and Wellness in the Next Year
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 According to Optum’s Wellness in the Workplace study, more
than 80% of employers plan to spend more on health care and
wellness in the next year than in previous years.
Health Care
Spending
The cost of providing employer-sponsored health care has been
steadily increasing over the years. According to the Kaiser
Family Foundation, the average health insurance premium for
family coverage was $19,616 in 2018, with employers paying 71% of
that cost. Premiums are expected to continue to increase, which
means employer health care spending will increase too.
Wellness
Spending
To mitigate rising health care costs, improve attraction and
retention, and increase employee well-being, many employers plan
to spend more on wellness initiatives in the upcoming year.
Specifically, employers plan to focus on mental health
initiatives and disease management.
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Preventing Sexual Harassment in the Workplace
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Despite decades of attention in the media and
courts, sexual harassment remains a significant and costly
problem in today's business environment. Learn how to prevent sexual harassment in your
workplace by watching the video below.
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