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Every May, Older Americans Month is observed across the United States, led by the Administration of Community Living. This national holiday, established in 1963 is a time to acknowledge the contributions of older persons in America.
May is Global Employee Health and Fitness Month, dedicated to promoting health and fitness while encouraging organizations and employees globally to prioritize their wellbeing within the workplace.
Earth Day is celebrated annually on April 22 to raise awareness for protecting the environment and Earth’s natural resources for future generations. The Earth Day Network brings together more than 20,000 partners and organizations globally to take action to help make the world a more sustainable and greener place for all.
National Garlic Day is celebrated each year on April 19. Not only is garlic a delicious vegetable to inject flavor to any meal, but it is also packed with amazing health benefits. Throughout history, garlic has been used for its health and medicinal properties, even being documented by ancient civilizations including Greeks, Romans, Egyptians, Babylonians, and Chinese.
National Employee Benefits Day is celebrated each year as a time to take a step back and look at the big picture of your benefit programs. Employee benefits are compensation packages that include benefits such as healthcare insurance, retirement saving plans, time-off and leave, and other wellness initiatives. Employers offer benefit packages to attract and retain talent.
Physical Wellness Month is observed in April, focusing on nurturing our bodies and embracing a healthier lifestyle. Physical wellness is an integral part of overall wellbeing, encompassing everything from exercise to nutrition and rest.
International Women’s Day is a global day of acknowledging the economic, cultural, social, and political achievements of women around the world. This year’s theme is #EmbraceEquity, which focuses on creating fairness and equality in the workplace and beyond. To embrace equity means to deeply believe, value, and seek out difference as a necessary and positive element of life.
Don’t lose sight of your eye health! Save Your Vision Month is observed every March, serving as a reminder to prioritize eye health and take proactive steps to protect your vision. Taking steps to preserve your eye health can help you live a healthier life with clearer vision.
National Self-Check Month, observed every February, is a time to raise awareness about the importance of self-monitoring and taking charge of one’s health. National Self-Check Month encourages individuals to engage in regular self-checks and screenings to empower them to be proactive about their wellbeing.
Black History Month is an annual celebration of achievements by African Americans. Since 1976, every U.S. president has officially designated the month of February as Black History Month. Other countries around the world, including Canada and the United Kingdom, also devote a month to celebrating Black history.
As the new year begins, so does the opportunity to pick up a new hobby or revisit old ones. January is National Hobby Month, encouraging individuals of all ages to celebrate their favorite hobbies or start new ones.
International Day of Persons with Disabilities celebrates the rights, achievements and contributions of people with disabilities. This day has become a time for governments, international organizations and non-governmental organizations to promote awareness of disabilities around the world while celebrating the many achievements of persons with disabilities.
Diabetes Awareness Month, observed every November, is a time to raise awareness about diabetes and the millions of people affected by this chronic health condition worldwide. During Diabetes Awareness Month people come together to support others, educate themselves, share resources and take steps to prevent diabetes health problems.
National Retirement Security Week is held annually during the month of October. Its purpose is to raise awareness and help individuals to take the next steps toward a secure retirement. It also is a reminder for individuals to assess their retirement saving goals and take steps to ensure that they are on the right track to a financially secure retirement.
Health Literacy Month is observed every October to promote awareness and understanding of health literacy and its importance in improving healthcare outcomes. Health literacy refers to the ability to obtain, process, understand and apply health information to make informed decisions about one’s health and healthcare.
Each October, National Disability Employment Awareness Month (NDEAM) celebrates and brings awareness to American workers with disabilities, with the purpose of promoting inclusion and equality in the workplace.
September 11 is National Day of Service and Remembrance, a day to come together in unity and service in honor of the lives and services of those we lost on September 11. Americans of all backgrounds and ages come together to join volunteering events in their community to commemorate the sacrifices made that day and work together to make the world a better place for all.
Grandparents Day is celebrated the first Sunday after Labor Day. It is a day to recognize the important role that grandparents play in their grandchildren’s and family's lives, as well as appreciate the older generations of our families.
Healthy Aging Month is observed annually in September. It is aimed to promote the importance of maintaining a healthy and active lifestyle and to encourage individuals to take positive steps toward improving their physical, mental, social and emotional well being as they grow older.
National Pickleball Day is on August 8 each year and celebrates the game of pickleball. In 2022 pickleball had 8.9 million players in the United States with a growth rate of 158.6% over the last three years (2020-2022). It is the fastest growing sport in the country.
News
Since its passage in 2006, the HELPS Act has allowed retired public safety officers to benefit from an annual pre-tax distribution of up to $3,000 from the government when used to pay for healthcare or long-term care insurance.
Employers and plan sponsors that offer retiree healthcare coverage are challenged with many variables and obstacles to keep their plans affordable, compliant, manageable and most importantly, offer value to the participants. The strategy needs to consider the overall benefit design (deductible, copays, out-of-pocket maximums, coinsurance, visit limits, covered expenses, etc.), funding design (fully insured or self-funded) and covered populations, which all combine to represent the overall cost of the plan.
Plan sponsors and participants are both under increasing financial pressure. Costs are on the rise. As the nation experiences the effects of inflation on fuel, food and housing, retired Americans on fixed incomes especially feel the pinch.
SOUTH JORDAN, UTAH, March 20, 2023 — Shopping for and comparing Medicare prescription drug plans has saved retirees using Via Benefits’ Coverage Checkup, its Medicare Advantage Prescription Drug (MAPD) and Part D prescription drug price comparison tool, over $50 million over the past five years.
ARLINGTON, VA, October 11, 2022 — Pressured by rising costs, U.S. employers are looking at alternative ways to provide healthcare benefits to their retirees over the next three years. And some employers plan to replace their traditional group retiree medical benefits for pre-Medicare retirees with individual insurance through private marketplaces. These are among the findings in a new survey by leading global advisory, broking and solutions company WTW (NASDAQ: WTW).
ARLINGTON, VA, July 26, 2022 — WTW (NASDAQ: WTW), a leading global advisory, broking and solutions company, today announced the appointment of Kevin House as head of Via Benefits, WTW’s individual healthcare marketplace business. In this role, House will be responsible for leading all aspects of the business. He is based in Detroit, MI.
ARLINGTON, VA, February 22, 2022 — Shopping for and comparing Medicare prescription drug plans can pay big dividends to retirees, according to an analysis by WTW (Willis Towers Watson, NASDAQ: WTW), a leading global advisory, broking and solutions company. The analysis found that retirees who used the Via Benefits (WTW’s individual marketplace) Coverage Checkup to compare and ultimately change plans during the 2021 Medicare open enrollment period had a median savings of $373.
ARLINGTON, VA, March 16, 2021 — Willis Towers Watson (NASDAQ: WLTW), a leading global advisory, broking and solutions company, announced today it has enhanced its Coverage Checkup tool, which helped retirees save nearly $345 during the 2020 Medicare open enrollment season.
ARLINGTON, VA, June 24, 2020 — Willis Towers Watson (NASDAQ: WLTW), a leading global advisory, broking and solutions company, was presented with three awards in the 14th annual Stevie Awards for Sales & Customer Service.
ARLINGTON, VA, February 19, 2020 - Roughly half of public sector workers surveyed (46%) are worried that the health care benefits they were promised in retirement will evaporate when they need them most. This is according to the 2020 Keeping Benefit Promises Study by Willis Towers Watson (NASDAQ: WLTW), a leading global advisory, broking and solutions company. Public sector workers also expressed the importance of retiree health care coverage, with 58% saying it was extremely or highly influential in their decision to work in the public sector.
Press
As employers consider how to meet the needs of a diverse workforce—while also attracting and retaining talent in a strong job market—it’s no surprise that offering competitive benefits is a top strategy. But with so many potential offerings—and the costs that go along with them—employers are also trying to identify benefits that offer flexibility and appeal to a wide range of workers. One newer type of benefit, lifestyle spending accounts (LSAs), are becoming more popular because they do just that.
“This account allows you as the employee to choose what type of expenses best meet your needs, and employers have the flexibility to determine the benefit level,” says Sara Taylor, senior director of employee spending accounts at WTW. “The flexibility and personalization of this benefit is what’s so attractive.”
Priorities for contributions. When employees have both a 401(k) and an HSA, where should they contribute first? Kevin House, managing director, head of Via Benefits, WTW’s individual health-care marketplace business, in Detroit, generally recommends contributing first to the 401(k) up to the match, then to an HSA, then any extra money into the 401(k).
Beware the Ides of March. The FSA grace period extends through March 15, 2024. Some employers offer a Flexible Spending Account (FSA), enabling employees to contribute to a personal fund to pay for out-of-pocket healthcare or dependent care expenses.
As healthcare costs rise, businesses are looking for new ways to provide medical benefits for their retirees, and one option of interest is replacing group benefits with individual insurance through private marketplaces for retirees who aren’t yet eligible for Medicare, according to a new survey by Willis Towers Watson.
Employers grappling with surging health care costs are embracing new tech-driven care arrangements and alternative payment models to cushion the financial blow to their workers.
Employers want alternative ways to provide medical benefits to their retirees over the next three years, with some looking to replace their traditional group plans for Pre-Medicare and Medicare-eligible retirees with individual insurance coverage through private marketplaces, according to a survey by Willis Towers Watson.
Almost 40% of employers made changes to their retiree healthcare benefits in the last three years, while another 63% plan to in the next three years, the Willis Towers Watson survey found. Some are looking to replace their traditional group plan offerings with individual insurance through a private marketplace.
Increasing health care costs are driving U.S. employers to search for alternative methods to provide health care benefits to retirees, new research shows. The WTW Retirement Medical survey found 50% of employers are concerned about rising costs and are targeting private insurance marketplaces to substitute for group plans.
The cost of traditional retiree healthcare coverage is about $1,000 monthly for those not yet eligible for Medicare, according to Trevis Parson, chief actuary at WTW. Before taking budget axes to retiree medical benefits, employers should consider alternative offerings and the potential impact of such benefit cuts on workforce planning initiatives.
Listen
Broadcast Retirement Network
Rivka Liss-Levinson PhD, Director of Research for the Center for State and Local Government Excellence (SLGE), discusses why public sector organizations looking to provide the best coverage and value to their retirees while mitigating costs should consider moving to a Medicare marketplace.