B.E.N. | Benefits Education Network

?? Avoiding Compliance Risks in Open Enrollment: Why Third-Party Advocacy Matters HR teams and employee benefits consultants face increasing compliance challenges under ERISA & HIPAA when guiding employees through open enrollment. The reality? Providing direct health plan recommendations can expose employers to legal and fiduciary risks. ?? What’s the Risk? ? Employers must avoid influencing employee plan choices. ? Employee benefits consultants must remain unbiased to prevent conflicts of interest. ? ERISA regulations require fiduciary oversight, even when using third-party services. ? The Compliance-Safe Solution? ?? Leverage third-party benefits advocacy for unbiased plan education. ?? Use decision-support tools to help employees navigate complex selections. ?? Ensure employees receive guidance without conflicts of interest for HR teams or consultants. By partnering with independent benefits advocacy services, employers can reduce compliance risks, lower legal liability, and empower employees to make informed choices—all while staying fully aligned with ERISA & HIPAA regulations. How is your organization handling this challenge? Drop your thoughts below! ?? #EmployeeBenefits #OpenEnrollment #ERISA #HRCompliance #HIPAA #BenefitsEducation

?? Pharmacy Middlemen Pocket Billions While Patients Pay the Price ?? Did you know that pharmacy benefit managers (PBMs) pocketed $7.3 billion in profits, all while drug prices skyrocketed? ?? The FTC's recent investigation revealed shocking practices by major PBMs like Caremark, Express Scripts, and Optum: ?? Inflated prices for life-saving drugs, including insulin and cancer medications, by up to thousands of percent. ?? A rebate-driven system that prioritizes profits over patient access. ?? Patients with chronic conditions, like diabetes, are left struggling to afford essential care. What does this mean for you? As employers and benefits consultants, it’s crucial to understand how these practices impact your benefits strategy. Are you leading with the solutions your clients and employees need to navigate rising healthcare costs? ?? Follow B.E.N. for actionable insights and strategies to ensure employees get the care they need—without breaking the bank. Let’s lead the change together! #CheckoutBEN #BenefitsStrategy #HealthcareCosts #PharmacyTransparency #HRLeadership

?? HIPAA 2025: What You Need to Know About Proposed Updates ?? As we look ahead to 2025, proposed changes to HIPAA regulations could significantly impact how employers, consultants, and benefits professionals manage compliance. Here's a quick rundown of what may be coming: 1?? Faster PHI Access: Employees could gain access to their Protected Health Information (PHI) within 15 days—half the current 30-day timeline. 2?? Enhanced Privacy Protections: Proposed stricter safeguards for reproductive health and substance use disorder records aim to ensure sensitive information stays secure. 3?? Digital Security Mandates: New requirements for encryption and strengthened cybersecurity measures would protect PHI in digital communications. ?? How This Impacts You: ? Employers: Prepare by reviewing your policies and training your teams for potential compliance updates. ? Consultants: Build trust by proactively discussing these potential changes with clients. ? Employees: Rest assured that these updates aim to bolster your data security and privacy. ?? Action Steps: ? Begin training staff on the proposed rules. ? Explore tools for secure record handling and storage. ? Communicate anticipated updates to build transparency and trust. While these updates are still proposed, it’s never too early to start planning. Compliance isn’t just about rules—it’s about creating a safer, more transparent benefits experience for everyone. ?? How is your organization preparing for these potential changes? Let’s discuss in the comments! #HIPAA2025 #BenefitsStrategy #ComplianceSimplified #CheckoutBENN

?? 2025 Health Benefits Trends: What Employers and Employees Need to Know! ?? As we step into 2025, the world of employee benefits continues to evolve. Are you ready to navigate the trends shaping the future of healthcare, compliance, and employee satisfaction? ?? In this quick video, I’ll unpack key trends that will impact organizations and their teams in the coming year, including: ? Innovative cost-containment strategies. ? Growing focus on compliance and transparency. ? Enhanced employee education and engagement. ?? Whether you’re a benefits consultant, HR leader, or employer, these insights will help you stay ahead of the curve. ?? Watch the full video now: ?? Link is in the comments. ?? Let’s hear your thoughts! What do you see as the biggest challenge or opportunity in employee benefits this year? Comment below! #CheckoutBEN #BenefitsStrategy #EmployeeEngagement #ComplianceSimplified #HRLeadership #2025Trends

Breaking News in Pharmacy Benefits: UnitedHealth Group's Optum Rx Sets a New Standard In a significant move for the pharmacy benefits management (PBM) industry, Optum Rx, UnitedHealth's PBM arm, announced it will now pass 100% of manufacturer rebates directly to its clients. This policy shift removes a long-standing point of contention and aims to address criticisms that PBMs drive up drug costs. Previously, Optum Rx retained a small percentage of rebates for certain clients who opted into specific compensation arrangements. According to UnitedHealth CEO Andrew Witty, this change is designed to eliminate distractions and reinforce Optum Rx's commitment to its clients' bottom line. The backdrop to this decision is the ongoing scrutiny of PBMs in Congress and across state legislatures, with critics accusing them of inflating drug prices to boost their revenue. This new approach from Optum Rx could pressure other major PBMs to follow suit, especially as discussions on legislation to increase transparency in the rebate process gain traction. Why It Matters: This policy adjustment not only positions Optum Rx as a leader in rebate transparency but also highlights a growing focus on accountability and trust in the benefits industry. Employers and employees alike stand to benefit from these changes, as cost savings from rebates may directly impact plan affordability and member out-of-pocket costs. The Bigger Picture: As the PBM landscape evolves, stakeholders—from employers to brokers—need to stay ahead of these developments to ensure their benefits strategies align with best practices and emerging trends. ?? Your Turn: What do you think this shift means for the future of PBMs and employer-sponsored health plans? Could full rebate transparency become the industry norm? Let’s discuss below! #PBMTransparency #BenefitsStrategy #HealthcareCosts #CheckoutBEN

?? The Hidden Costs of Overlooking Employee Benefits Transparency Employee benefits aren't just a line item on the budget—they're a crucial driver of employee satisfaction, retention, and overall organizational success. But have you ever stopped to consider the hidden costs when benefits lack transparency? In this short video, we explore: ?? How unclear communication can lead to employee confusion and dissatisfaction. ?? The financial impact of uninformed decisions on healthcare utilization. ?? Why transparency is more than compliance—it's a competitive advantage. ?? Watch the video to uncover how embracing transparency can transform your benefits strategy. Let’s start a conversation: ?? What’s one challenge you’ve faced when trying to make benefits more transparent? Share your insights below! #CheckoutBEN #BenefitsStrategy #HRLeadership #ComplianceSimplified

As wildfires continue to impact regions across Southern California, including Los Angeles County, Ventura County, and San Bernardino County, we at B.E.N. | Benefits Education Network extend our deepest gratitude to the first responders working tirelessly to protect lives and communities. Our thoughts are with the individuals and families affected by this devastating situation. During challenging times like these, it's important to remember that your employee benefits may provide resources to support you and your loved ones. Here are a few ways your benefits could help: ? Mental Health Support: Many plans include access to counseling services or Employee Assistance Programs (EAPs) to help manage stress and trauma. ? Disaster Relief Benefits: Check with your HR department or provider about special programs that may assist with temporary housing or financial relief. ? Telemedicine Services: If you're unable to visit a doctor in person, telemedicine can provide access to care from wherever you are. If you're unsure about what's available to you, reach out to your benefits team or HR department for assistance. To our followers: Let's continue to support our neighbors with compassion and care. If you have additional resources or tips to share, please feel free to comment below. #StaySafe #EmployeeBenefits #FirstResponders #SupportCommunities

Transparency Matters: Protect Your Clients Today! ?? The Consolidated Appropriations Act of 2021 has shifted the landscape of employee benefits. Employers and benefits consultants are under growing pressure to ensure compliance with transparency regulations. ?? But compliance isn’t just about ticking boxes—it’s about protecting your clients, their employees, and their bottom line. In this video, we break down: ?? The key challenges with compliance. ?? How proactive transparency safeguards your clients. ?? Why now is the time to act, not react. Understanding these requirements is the first step toward building trust, driving value, and staying ahead of regulatory scrutiny. ???Check out the link in the comments and watch the full video to learn actionable steps you can take today! ?? What strategies have you implemented to navigate transparency requirements? Share your insights below! #ComplianceSimplified #BenefitsStrategy #TransparencyMatters #HRLeadership

?? Reframing Employee Support: A Smarter Approach to Benefits ?? In today's fast-paced workplace, employees are navigating increasingly complex benefits options. The question is: Are we truly empowering them with the tools they need to make informed decisions? ?? Our latest video explores how a smarter, more proactive approach to employee support can lead to better engagement, reduced confusion, and, ultimately, a happier workforce. ?? ? What you'll learn: ? Why traditional benefits education may not be enough. ? Practical strategies to streamline employee support. ? The key to unlocking smarter decision-making for your teams. ?? Your Turn: What strategies have you implemented to improve benefits education in your organization? Let's discuss in the comments below! ?? #BenefitsStrategy #EmployeeEngagement #HRLeadership #ComplianceSimplified #CheckoutBEN

50 Years of ERISA: How It Revolutionized Employee Benefits Did you know a factory shutdown in 1963 was the catalyst for one of the most transformative laws in employee benefits? ERISA—the Employee Retirement Income Security Act—has been shaping the future of pensions, 401(k)s, HSAs, and more since 1974. ?? Key Milestones: From pensions to 401(k)s and IRAs. Expanded health protections through COBRA, HIPAA, and ACA. Safeguarding $12.8 trillion in assets for 153 million participants today. ?? The Role of Advisors: Navigating the complexities of compliance, fiduciary responsibilities, and optimizing benefits plans has never been more crucial. Advisors are the unsung heroes guiding employers and employees through ERISA's intricate landscape. ?? Looking Ahead: As we face challenges like cybersecurity risks, AI-driven planning, and retirement gaps, staying informed and proactive is the key to shaping a secure future for employee benefits. ?? Have compliance questions? Drop them in the comments below, and let’s discuss how to keep your plans secure and compliant. ?? Don’t forget to like, share, and follow @CheckOutBEN for more benefits insights. #ERISA50 #EmployeeBenefits #BenefitsEducation #ComplianceSimplified #CheckoutBEN