News BriefsReview a summary of news, trends and industry information from trusted sources. From the April 2015 issue of CeridianVoice.   

 

 

 

April News Briefs

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UnitedHealth Group buys Catamaran Corp.

Continuing to grow its drug-benefits business, UnitedHealth Group purchased Catamaran Corp. giving it access to the company’s drug clients. This acquisition is part of a broader strategy to use drug-benefit managers to help reduce the rising cost of medications. UnitedHealth Group will now be the third largest in the drug-benefit industry, falling behind Express Scripts and CVS Health Corp. Read more at EBN Benefit News.

Congress considers legislation to protect wellness program financial incentives

In March, elected officials in the Senate and House of Representatives introduced bills that would reaffirm laws that allow financial rewards in employee wellness programs. Financial incentive ACA laws are being challenged by the Equal Employment Opportunity Commission, which claims that employers are violating the Americans with Disabilities Act (ADA) or the Genetic Information Nondiscrimination Act (GINA) by failing to provide incentives to employees who do not complete a wellness program assessment or screening. The new legislation would help to clarify that ACA wellness program rules are lawful under the ADA and GINA. Read more at EBN Benefit News.

Planning for the impending Cadillac tax should start now

Starting in 2018, the ACA’s Cadillac tax will take effect as part of the law’s initiative to reduce health care costs by encouraging employers to offer plans that are cost-effective. The tax will be a 40 percent surcharge on health insurance spending that exceeds $27,500 for a family or $10,200 for an individual. While many organizations have ignored this looming tax, 17-38 percent of employers are expected to be impacted by it. To avoid or minimized the impact of the tax, employers must take action long before the 2018 deadline. Read more at EBN Benefit News.

Study identifies need for an HR transformation

Deloitte’s recent 2015 Global Human Capital Trend report has identified the need for HR to change its strategy and tactics to keep pace with the changing business climate. According to the report, the use of social networking tools, increasing number of contract workers and the growing percentage of Millennials in the workforce has changed the work landscape. As a result, companies are struggling to develop leaders at all levels and to maintain employee engagement and retention. Read more at SHRM.com.