TIPS AND TRAPS FOR EMPLOYEE BENEFIT PLANS Tuesday, January 17, 2017

Brief Intro Re: Employee Benefits Landscape It has been 20 years since SHRM first launched its annual employee benefits survey, at that time titled the “Innovative Benefits Survey.” The sheer number of benefits that were asked about in 1996 compared with today has grown immensely – a mere 60 benefits in 1996 while 344 benefit types in 2016.

Benefits today …

Continually Evolving Benefits Over the past 20 years the core benefits offered by employers have remained relatively stable. For example,: 90% of companies offered health care coverage through either a PPO or HMO in 1996. In 2016 it was also 90%.

Continually Evolving Benefits The different types of health care coverage which expand beyond the traditional HMO and PPO plans. Now we’ve got dental, vision, mental health, chiropractic insurance as well as HRAs, HSAs and other consumer directed health plans.

Areas where an increase in changes regarding benefits from 1996 and 2016 are: • Telecommuting of any type increased from 20% in 1996 to 60% in 2016. • Wellness resources and information from 54% to 72%. • Company paid professional memberships (65% to 88%) and professional development opportunities (75% to 86%).

More evolving: In 1997, 68% of organizations offered a defined contribution plan compared with 90% today. Defined benefit pension plans have dropped from 49% in 1997 to 25% today. Now things have moved to online administration systems and new privacy legislation

How To Avoid Common Pitfalls Be Aware of IRS requirements and limitations Be Aware of Regulatory changes ACA Impact and Reporting Deadlines Notification Requirements and Tracking Documentation Confidentiality

Creating A Benefit Package For The Future Flexibility & other needs of future workforce Technological Impact – virtual training, education, enrollment, notification, postings, etc. HIPAA & Confidentiality

Health Management and Wellness programs include a suite of interventions designed to engage consumers across the care continuum, including: • disease management • wellness coaching • biometric screenings • health assessments • case management • fitness challenge

Developing A Meaningful Action Plan Living in the present now means living with a future-consciousness richer and more informed than humans have ever been able to benefit from in the past. We have a battery of new ways of monitoring even as we are changing, and far better information about everything. Utilize that and we can sketch a range of possibilities, more or less desirable.

Developing A Meaningful Action Plan Start Now! Utilize the data you have. Look at the data easily accessible from the web and via carriers. Think outside the box. Plan based on demographics and needs of our future workforce.