Businessolver® Client Newsletter
09/10/2024
Businessolver Honored with Global Award
Thank you to our clients for giving us inspiring work to do. We're excited to be honored as a 2024 Top 100 Inspiring Workplaces.
State of Workplace Empathy: Mental Health Report
Exploring the barriers and solutions to better mental wellbeing at work
Our State of Workplace Empathy study showed that 55% of CEOs and 50% of employees have experienced a mental health issue in the last year. Data likewise revealed a strong relationship between the perception of workplace toxicity and mental health issues: Employees who say their culture is toxic are 47% more likely to cite mental health issues compared to those who do not cite a toxic workplace. For CEOs, this is even higher at 64%.
While the data is bleak, it also points to a solution: Employers must be intentional about extinguishing stigmas and toxicity while putting parallel effort into promoting mental health benefits and empathy in the workplace. Read the new mental health portion of our State of Workplace Empathy report to learn about our 10 strategies you can adopt today to support mental wellbeing in your organization.
Benefits Pulse Newsletter
Stay in the know on LinkedIn
Don’t miss a beat—subscribe to the Benefits Pulse newsletter on LinkedIn! Stay in the know on everything from HR strategy to the latest in workplace culture. In our first edition, we dove into insights that will help you drive more success for your organization this annual enrollment season.
Claim Choice for MyChoice Accounts
Provide members with maximum flexibility to use their funds
For MyChoice Accounts clients, you now have the option to use claim feeds to provide members an option to pay or defer provider claims with their accounts. Many clients already have claim feeds set up to support auto-substantiation of card swipes, and these can now be used to provide a Claim Choice to members on how to use those claims if they haven’t yet been paid. This feature can be used to help members avoid FSA forfeiture. For HSA members, this feature would be helpful for members to “store” eligible expenses if they pay out of pocket and want to validate future withdrawals. Work with your CSL to kick off discovery for this feature. There is no charge from MyChoice Accounts to set this up.
TGL Match Tickets Giveaway at HR Tech!
Stop by our booth to say hello and enter the giveaway
As a Founding Partner of Tomorrow’s Golf League (TGL), Businessolver is offering two lucky winners the chance to be one of the first to experience the thrill of a live TGL match in Palm Beach, FL! Stop by our booth at HR Tech to learn how to enter the sweepstakes for your chance to win. Plus, you could earn extra entries by attending our Welcome Reception at S Bar on Tues., Sept. 24, from 7:15-9:15 p.m.
Benefits Insights Dashboards
Enhancing HR effectiveness and efficiency
First revealed at our annual Vision conference, we are now in the final stages of rolling out our new Benefits Insights Dashboards! We designed these dashboards to provide you with unprecedented insights into employee benefits engagement. The dashboards will offer real-time analytics and reporting and make recommendations to help enhance your benefits strategy’s alignment with your organizational goals.
Check out this short clip to earn more about the Benefits Insights Dashboard. For more detail, check out the July Product Update in Tech with Heart.
What’s New in Compliance?
COBRA Initial Rights Notice process review
When COBRA was first introduced, the General Notice of Continuation Coverage, also known as the Initial Rights Notice, was often provided to new hires upon being hired. The COBRA notice rules were finalized in 2004 and clarified that employers must provide these notices within 90 calendar days of an employee’s or spouse’s initial enrollment in a COBRA-eligible plan.
While this notice was previously treated as a ‘New Hire Letter,’ these final rules affirmed that providing a form at the time of hire was insufficient for any employee enrolling in COBRA-eligible coverage later than their initial hire date. Similarly, newly added spouses who were not on the plan when the employee enrolled in COBRA-eligible coverage would need to receive a notice. Or, employers could send an additional notice to the employee and spouse.
Occasionally, we encounter employers that utilize legacy practices of treating these notices like new hire letters. We encourage you to review plan documents and strongly encourage the continued review of notice procedures, such as the General Notice of Continuation Coverage, to ensure continued compliance.
Upcoming sessions
Tues., Sept. 17 at 10 a.m. CT: Roundtable - Evaluating Point Solutions for Maximum Returns
Don’t miss this chance to learn more about our pinnacle partners and what they can offer you and your members. This roundtable is a great opportunity to one-stop-shop our partners and learn more about the engagement and savings you can realize with them.
Plus, if you stay for the entire session, we’ll give you a $10 coffee gift card and enter you into a drawing for a $100 gift card of your choice.
In case you missed it
Mastering Annual Enrollment: Insights and Strategies for Success Roundtable
Have you had a chance to check out August’s roundtable on demand? If not, consider checking out the recording. Kelli Curtis, Senior Director of Client Services, HollyMyers from TE Connectivity, and a few other Solvers joined to discuss the strategies and tools they use to master a successful AE, including how decision support can enhance member enrollment choices.
Trainings
Our trainings from August are still topical and available on demand. We built them to help you prepare for annual enrollment and beyond.
Reviewing Rates
Reviewing your rates is a critical step to ensuring quality and accuracy throughout the employee experience. Go behind the scenes of our rates process and demo the platform.
QA Testing and Sign-off
This training is designed to ensure that you are set up for success for your enrollment's annual debut!
AE Change Files – Exports and Payroll
Join our experts as they take you under the hood of Benefitsolver to show you how we process exports and payroll.
Year-End Processing
Prepare for your upcoming end-of-year processing. Join our experts as we dive into how to prepare for elections to transition into current state and how we make that information available to you.
A Peek at Our Pinnacle Partners: Recoop
Disaster insurance for your employees
Recoop is the first and only multi-peril disaster coverage that quickly pays a lump-sum cash benefit (up to $25,000) after a natural disaster: hurricane (with storm surge), wildfire, tornado, earthquake, gas explosion, winter storm or dust storm. Together, we are committed to providing a simple and affordable product essential to any financial wellness plan, offering protection when it's needed most.
Recoop offers employers a cost-effective way to fill in gaps of insurance for their employees. Check out this short clip to learn more.