News/Blog

Major health insurers UnitedHealth and Humana are warning about a jump in medical costs this year due to higher-than-anticipated demand for surgeries and other medical procedures. Insurers have benefited from nonurgent surgery delays during the COVID-19 pandemic and hospital staffing shortages. In fact, some individuals, especially older adults, put off elective procedures during the height…

Employers continue to struggle with controlling rising healthcare costs and providing employees with affordable and quality care options. Of particular concern is the high costs associated with specialty drugs. The specialty drug industry has grown from a few available drugs in the 1990s to more than 300 specialty drugs today. For most employer-sponsored health plans,…

On May 16, 2023, the IRS released Revenue Procedure 2023-23 to provide the inflation-adjusted limits for health savings accounts (HSAs) and high deductible health plans (HDHPs) for 2024. The IRS is required to publish these limits by June 1 of each year. These limits include: These limits vary based on whether an individual has self-only…

May is Mental Health Awareness Month, a national campaign designed to raise awareness about mental health issues and reduce the stigma surrounding mental illness. Mental health issues and mental illness are common. According to the National Institute of Mental Health, nearly 60 million U.S. adults lived with mental illness in 2021. Your mental health is…

Employee handbooks are important tools for establishing employee expectations, addressing workplace issues and defending against potential lawsuits. Failing to update employee handbooks regularly can make employers vulnerable to legal risks and liabilities, resulting in costly fines, penalties and attorneys’ fees. Employment laws are often complicated, and employers need to be aware of any new regulatory…

According to a recent poll from management consulting company Gallup, less than 25% of U.S. employees feel strongly that their employer cares about their well-being—the lowest percentage in nearly a decade. Even though employers are increasingly focusing on workplace wellness, there are ways to ensure that employees actually feel as though their overall well-being is…

On Dec. 29, 2022, President Biden signed the Consolidated Appropriations Act of 2023, an omnibus bill that includes the “SECURE 2.0” legislation, referred to as such because it builds on the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019. Key SECURE 2.0 provisions include:

Axion recently hosted The Future of Healthcare Seminar. One of the main takeaways from the event was that healthcare is becoming more patient-centric. The speakers emphasized the importance of personalized care and how we can improve the efficiency and effectiveness of healthcare delivery while reducing costs. Another topic was the increasing importance of telemedicine, virtual…

One in 4 working adults will become disabled before reaching retirement age, according to data from the Social Security Administration (SSA). Unfortunately, many workers are unprepared to lose their income or unable to afford unexpected medical expenses. Income or job loss due to illness or injury can be devastating for you and your family. Disability…