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Group Insights

The New York Life Group Benefit Solutions Newsletter  |  July 2022

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The July edition features an interview with enrollment consultant Sheilah Rund who analyzes pandemic impacts on the workplace and offers five ways to improve enrollment outcomes. You can also see how an employee afflicted with severe anxiety adapted to a new and thriving role. Our legislative analysis offers previews of Oregon and Colorado leave laws. And, tune in to our podcast to discover how the right technology can improve benefit delivery, from enrollment selection to daily administration.


Top headlines in this issue.

Pandemic Impact

The Pandemic’s Impact on Enrollment

This Q&A with Sheilah Rund, a New York Life Group Benefit Solutions (NYL GBS) Enrollment Consultant, provides answers to how the pandemic has changed enrollment, additional changes to expect in the next few years, pros and cons to a remote environment, and how NYL GBS Enrollment Solutions can help.

Read the full article

Pandemic Impact

Five Ways

Top Five Ways to Improve Enrollment Outcomes

The NYL GBS Enrollment Solutions team continuously monitors industry trends to help our clients meet their employee-benefit needs. Read our top five recommendations to help boost participation during your next enrollment period.

Read the full article


Prepare PFML

How You Can Prepare for Upcoming Paid Family Medical Leave Laws

Oregon and Colorado are the next two states to implement their respective Paid Family and Medical Leave laws. In Oregon, benefits administration and payment will begin on September 3, 2023. In Colorado, benefits administration and payment will begin on January 1, 2024. Rulemaking is ongoing in both states, and there are things employers should consider now to prepare for upcoming benefit payment.

Read the full article

Prepare PFML

DMEC

DMEC Annual Conference

If you’re in Denver, August 1-4, 2022, stop by and see us at the DMEC Annual Conference at booth #212. Our panel session, “Working Together to Cross the Finish Line,” offers insights into a unique program that helps people with disabilities return to healthy and productive lives. And, join us as we speak alongside FINEOS about adapting benefits administration to meet the requirements of today’s evolving insurance landscape.

Contact your NYL GBS representative for more information.

Statutory Benefits Quick Reference Guide

Our Statutory Benefits Quick Reference Guide is always available for your review. NYL GBS monitors state disability and paid family leave laws and will revise the guide to reflect the latest in statutory updates.

Prepare for Ever-Evolving State Paid Leave Laws


Increasing leave legisation means a surge in leave complexity. You can depend on us to share insights into emerging benefit trends, employee sentiment, and best practices to help enhance your absence management program and future planning. NYL GBS legal and compliance experts continually monitor legislative proposals and actions to help you stay ahead of the curve.

Our recent webinar features a multi-state employer and our Paid Family Medical Leave (PFML) experts discussing ways you can prepare for evolving PFML fans.

Featured Podcast

Technology Trends: Transforming Employee Benefits Administration 
(Runtime: 14:50)

In this episode, you’ll hear how benefits technology has evolved over time, key factors driving the future of benefits administration, how technology can improve experiences, and how to maximize benefits technology for better outcomes.

Visit our podcast page for more episodes


The Claimant’s Journey

A simpler and human-centered approach means working toward the best and safest outcomes for employers and the people they depend on to advance their organizations. Our new series spotlights these efforts and kicks off with a story shared by our Group Disability Claims area.

Claimant

Lowering Occupational Stressors with Vocational Coaching

In this edition of the Claimant’s Journey, we feature Sarah. She has a demanding job in the healthcare industry. The grinding pace resulted in debilitating panic and anxiety attacks, and she eventually requested a leave of absence. Sarah is anxious to return to work but will need to look at alternative work settings and/or jobs.

Learn more about Sarah’s return to work and how her NYL GBS Vocational Coach helped her transition to a less stressful position by working with her employer’s recruiter.

The above story is for illustrative purposes, the name of the individual and some details have been changed to protect their identity but was based on a real person’s experience.

Claimant

Free webinars for NYL GBS clients.

Every month My Secure Advantage (MSA)1 hosts financial wellness webinars2, which are free for NYL GBS clients. The webinars are presented on scheduled Tuesdays and Thursdays. Upcoming webinars include: 

Common Risks to Your Retirement Plan

Tuesday, August 9

Retirement shouldn’t be fraught with uncertainty. You may have a firm retirement plan centered around your savings and sources of income, but sometimes even the best laid plans fall short. In this class, we will review some of the risks that could impact your plan like outliving your savings or not having a realistic plan for managing your finances during retirement.

Register: 9 a.m. PST  |  Register: 12 p.m. PST

Understanding Medicare

Thursday, August 25

Health care costs are typically one of the biggest expenses in our budget, and the Medicare Federal Health Insurance Program is intended to help cover these expenditures after we turn 65. But what if we want to retire before age 65 or have access to an employer-sponsored health care plan after 65? This class will review how your out-of-pocket expenses may go up or down depending on when you retire and start receiving your Medicare benefits.

Register: 9 a.m. PST  |  Register: 12 p.m. PST

Planning for College 101

Tuesday, September 13

The costs of attending college continue to increase, so planning is imperative. This class will discuss different types of college savings accounts and review the financial aid process. It may be important to get funds from as many sources as possible, so we’ll review scholarships, grants, and loans. Get ready to leave this class better prepared to establish and fund your college savings goals.

Register: 9 a.m. PST  |  Register: 12 p.m. PST

Student Loan Repayment Strategies

Thursday, September 22

For many employees, especially in the first half of their careers, student loan payments are a significant monthly expense. This class helps attendees consider repayment options that meet their individual goals. We discuss repayment options for both federal and private loans, which include how to lower monthly payments or pay off loans faster.

Register: 9 a.m. PST  |  Register: 12 p.m. PST

If you also have New York Life Group Benefit Solutions’ Life Assistance Program (LAP)3, ask your Account Manager to provide you with the quarterly calendar of LAP webinars, which also includes the MSA webinars.


Contact us

Now, you have a bi-monthly resource that provides critical absence topics and much more in the world of group benefits. We welcome your input about our coverage and ideas for future topics.

1 My Secure Advantage is NOT insurance and does not provide reimbursement for financial losses. Customers are required to pay the entire discounted charge for any discounted products or services available through these programs. Programs are provided through a third party vendor who is solely responsible for their products and services. Full terms, conditions and exclusions are contained in the applicable client program description, and are subject to change.  Program availability may vary by plan type and location, and is not available where prohibited by law.  This program is not available under policies insured by New York Life Group Insurance Company of NY.

2 Seminars are provided through a third party vendor who is solely responsible for their products and services. Terms and conditions are contained in the client program description, and are subject to change. Program availability may vary by plan type and location, and is not available where prohibited by law.  

3 Life Assistance Program (LAP) These programs are NOT insurance and do not provide reimbursement for financial losses. Some restrictions may apply. The Life Assistance Program products and services are provided exclusively by or through operating subsidiaries of Cigna Corporation, including Evernorth Behavioral Health, Inc. and Evernorth Care Solutions, Inc. Customers are required to pay the entire discounted charge for any discounted products or services available through these programs. Programs are provided through third party vendors who are solely responsible for their products and services. Full terms, conditions and exclusions are contained in the applicable client program description, and are subject to change. Program availability may vary by plan type and location, and are not available where prohibited by law. These programs are not available under policies issued by New York Life Group Insurance Company of NY. Cigna Corporation and its subsidiaries are not affiliated with New York Life Insurance Company and its subsidiaries.

This newsletter and its content is being provided for informational and educational purposes only. Any information or discussion of legislation or regulation is provided for informational purposes only and not intended as legal guidance. For specifics, please review the applicable links or consult with your own legal professional before making any decisions. New York Life Insurance Company, its subsidiaries, affiliates, and employees, are not in the business of providing legal advice, and none is intended nor should be inferred from the foregoing information. Clients are advised to seek the counsel of their own legal advisors who must form their own independent opinions on these matters based on their independent knowledge and research.

New York Life Group Benefit Solutions products and services are provided by Life Insurance Company of North America or New York Life Group Insurance Company of NY, subsidiaries of New York Life Insurance Company. Life Insurance Company of North America is not authorized in NY and does not conduct business in NY.