SSG Insights | Week of February 4th, 2022
REMINDER: Medicare Part D Disclosures due by March 1, 2022 for Calendar Year Plans
This is an annual reminder for employers whose health plans include prescription drug coverage to disclose to the Centers for Medicare & Medicaid Services (CMS) whether that coverage is creditable. Employers must complete an online disclosure with CMS within 60 days after the beginning of the plan year, or March 1, 2022, for calendar year plans.
Microaggressions: Discrimination in Disguise
According to a recent Glassdoor study, 61% of participants had experienced or observed workplace discrimination. It could be a combative remark, a snub in a meeting or a backhanded compliment communicating a negative view of someone’s race, gender, sexual orientation, religion, or age. The term “microaggression” defines these nuanced forms of discrimination as “brief and commonplace daily verbal, behavioral, and environmental indignities, whether intentional or unintentional. Continue reading to learn more about what HR leaders should be aware of.
3 Strategies for Reducing Benefits Costs in 2022
Health care costs continue to rise each year, and 2022 will be no exception. In the new year, experts predict a 6.5% increase in medical costs alone, according to PricewaterhouseCoopers. Employers are also anticipating health plan premiums to rise more than 5% in 2022, a Willis Towers Watson survey reports. With these increases in mind, employers will want to strategize methods to rein in benefits spending. This insight offers three ways to help.