If you ever wondered if there was a direct link between financial stress and health outcomes, look no further. According to research compiled by Managed Care, Americans are skipping medications that could improve their quality of life because they can’t afford them. The term financial toxicity was coined by Amy Abernathy, MD, in an essay for the journal Oncology. “Out-of-pocket expenses related to treatment,” she wrote, “ are akin to physical toxicity, in that costs can diminish quality of life and impede delivery of the highest-quality care.”
The truth is many employees need help navigating healthcare benefits to lower out of pocket expenses and avoid , “financial toxicity.”
What We’re Reading
Employer tackles student loan debt and retirement. When employees contribute 2% of their salary to paying down student loans Abbott Laboratories will pay the equivalent of 5% of an employee’s salary to to their 401(k). Learn more about their Freedom 2 Save program.
Happier, healthier employees. An initiative in France incentivising employees to bike to work led to a 15 percent reduction in sick leave, lower transportation expenses, less stress and higher job satisfaction. See how it worked.
Would you trust orders from a robot? More than 90 percent of workers responding to a recent study would, but progress is slow when it comes to companies adopting and preparing for artificial intelligence in the workplace. Read the full results breakdown.
Open offices lower direct communication. Recent studies found that email and instant messaging conversations increase significantly, productivity declined, and face-to-face interaction decreased when offices transitioned to an open landscape. Why this happens and how it relates to insect behavior.
Help Millennials secure their financial wellness. Nearly 70 percent of millennials are stressed about their finances. Help them get on track and back to work. Share this quick tipsheet with your employees.
A simple gesture to support employee’s mental health. With recent rises in mental illness and suicide employers cannot avoid addressing mental illness any longer. A memo like this is a good start.
On-demand health insurance. A new startup offers employees a core set of health care benefits and the option to add coverage for specific procedures. Is this the future of insurance benefits administration?
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