NEWS & UPDATES

March 2024 | Issue 40

Calendar Corner for edHEALTH Member-Owner Schools

What's New in the Portal

To make the edHEALTH member-owner calendar more helpful to you, we redesigned it this year. It's now posted. Once you have checked it out, let us know your thoughts.


In addition, member-owners will find their Quarterly Actuarial Reports, 2023 Data Utilization Reports and the presentation from last month's Thought Leadership Series in the portal..

Thinking about 2025 Plan Options?

Based on feedback from last month's Plan Design Committee meeting, schools may now choose an earlier date to receive their renewals. Because of this, we tweaked the key renewal dates that we reported last month (also included in the new edHEALTH calendar).


Please remember to bring any requested plan design changes to the April or May Plan Design Committee meeting so that other schools may consider them as well.

May 31: Deadline for schools to request any new plan designs or changes to the menu (this includes all requests to change current plans, e.g., copays, visit limits, etc.). 

June 21: Census and preferred rate timing for the initial quote due.

June 30: edHEALTH distributes final plan menu.

August 9 or August 30: Renewal pricing delivered to schools.

August 23 or September 13: Alternate plan design rates delivered.

September 30: Signed rate sheets due.

Upcoming Member-Owner Meetings

Mark your calendars for these virtual meetings:

  • April 9 (11:30 AM) - Rx Annual Plan Performance Review
  • April 11 (10 AM) - edHEALTH 101: A refresher on how we interact with our schools. It's ideal for introducing edHEALTH to new employees, especially those in Finance and Human Resources. Sign up now and share with your colleagues.
  • April 17 (11 AM) - Plan Design Committee
  • April 24 (9:30 AM) - PBM Industry Update/Virtual Symposium


Save the date: Our Annual Meeting is on June 18th in Dover, MA. Your invitation will arrive soon.

Next Month is Autism Acceptance Month

Did you know that

more than 7 million individuals in the United States are on the Autism spectrum? It's important to know the facts and what support is available.


With April just around the corner, we share the Autism Society's helpful 2024 infographic. Resources like this are created to educate and spread the word. You can download this graphic here and share at your institution. (Click on the image below to view in full size.)

Nancy McConaghy

Take Five with Our Employees

This month, we feature Vice President Nancy McConaghy in our Meet the Team series.


1) What's your role at edHEALTH, and since when?

My current role at edHEALTH is Vice President. I started with the organization in June of 2019. My focus is on introducing the benefits of edHEALTH to educational institutions as well as supporting our 27 member-owner schools on an ongoing basis.


2) Favorite part of the job?

My favorite part of edHEALTH is the amazing partnerships and working relationships we have with our member-owners, their advisors, and our business partners.  


3) Will you share one 2024 goal – professional or personal?

One of my goals in 2024 is to continue to support our member-owners with the strategic planning initiatives and provide greater savings, service and value for our educational institutions, their faculty, staff and family members.


4) What's a favorite quote or words shared with you?

Unity is strength… when there is teamwork and collaboration, wonderful things can be achieved.

– Mattie Stepanek 


5) Chocolate or vanilla?

Chocolate

Ageless Talent: Debunking Myths

What to Really Know When Working In a Multi-Generational Workplace

Thank you to the many attendees of last month’s Thought Leadership Series featuring Dr. Lisa Finkelstein, a Professor and Program Director of Social and Industrial/Organizational Psychology at Northern Illinois University, and those of you who provided enthusiastic feedback. Dr. Finkelstein shared some of the findings from two books she co-authored: Ageless Talent and Facing the Challenges of a Multi-Age Workforce.


As most campuses and companies now have up to five generations in the workplace, Dr. Finkelstein’s work provides important insights as to why we shouldn’t simply generalize colleagues into their respective generations, be it Baby Boomers, Generation X, Generation Y/Millennials, or Generation Z. 


For those of you who missed this session, we outline some key takeaways that can benefit us all, both in the workplace and in our personal lives.


About the law: Did you know?

The Civil Rights Act, Title VII, was amended to include the Age Discrimination in Employment Act (ADEA) in 1967. This amendment protects persons 40 years of age or older, yes 40! This is especially interesting as it means that even some Millennials are protected by the law as older workers. What the law doesn’t do, however, is offer protection from generation discrimination.


Everyone makes generalizations, but it’s unfair

Overgeneralizing the different generations is all around us. You’ve likely read plenty of industry articles about hiring and retaining Millennials or Gen Zs, seen memes about Generation X, or watched TikTok videos highlighting different approaches to the same question. Even though we may know people who fit the bill of some stereotypes, it’s actually unfair and not productive to limit ourselves.



Dr. Finkelstein explains why it’s so tempting to accept and apply generalizations. “We’re all busy in our lives. Stereotypes are time-saving devices and natural cognitive shortcuts. We’re driven to make sense of and control our environments as best as we can.” She adds that it is also a way to connect or bond with people, including our colleagues.

“Using generational shortcuts might shortchange you . . . Remember to approach people as multidimensional individuals.”

Generalizations can be bad for business, and how to turn them around

While stereotyping by generation may offer some truths, it may keep you from hiring the best talent, training your employees, being productive, and building the highest quality team. For example:

  • You want your team to have high competencies, diverse experiences, and perspectives. It’s better to directly measure what you are after than relying on assumptions about generational groups. A specific example is not to assume that Generation Z employees will be more tech-savvy, as Generation Xers may have been IT professionals earlier in their careers or just be really strong in the tech space. It’s also so important to have diverse perspectives on teams or committees. 
  • On the training front, don’t assume what certain groups may need and others don’t. You may be wrong. Take the time to talk to individual teammates to learn their skills and interests―ask them directly. Building the best department or team possible is worth the upfront work.
  • Remember that what might be touted as a dealbreaker for particular groups may also be important to other people. A good example of this, which applies to many generations in the workplace, is when organizations focus solely on family-related benefits; while fantastic and valuable for your employees with a spouse and children, it may be off-putting for those without dependents. Take into consideration all types of individual lifestyles when introducing value-added benefits.


Dr. Finkelstein reminds us that many characteristics beyond generation membership determine what motivates us to engage and stay with an organization.


Where and when in organizations does age matter

It’s helpful for decision-makers to recognize age differences, without generalizing by generations, when it comes to:

  • Motivation and engagement
  • Training and learning
  • Physical and cognitive changes
  • Teamwork and diversity
  • Work-nonwork balance
  • Talent management and retention


Employers should also remember that there are many differences within a generation. Diversity adds to these differences, like individuals with an invisible disability. The range between individuals of the same age, whether 25, 35, 45, 55, or 65, will highlight significant differences.


You also can’t always assume a traditional age difference in job levels, as people often embrace a second career, in which case mentors will be younger than the mentee. Remember, too, that there are plusses and minuses at every age. While our physical health may decline with age, “older” employees also come with emotion regulation, expertise, and crystallized intelligence.


Ageless Talent and the PIERA method

One of the methods from Dr. Finkelstein’s book, Ageless Talent, that can benefit people in any industry or age to improve the workplace is PIERA, which stands for Plan, Implement, Evaluate, Reflect, and Adjust. Based on scientific findings, this method can be a springboard for tailored mini-interventions to help reach business goals under diverse organizational constraints.


Potential group activities at work

If your project team or department has an established level of trust, it may be interesting for you to share what assumptions are made about you related to your generation. Talking about how you’re all generalized, whether true or not, can guide a better understanding of each other on an individual level—leading to working together better and ultimately being more successful. The next time you begin to make an assumption about someone, ask yourself, “Do I know if this is actually accurate?” Dr. Finkelstein and the research behind Ageless Talent show that even tiny tweaks to change assumptions can really help improve workplace relationships among individuals from different generations. 

3 Articles Worth a Skim

Check out these timely industry-related articles. You also may want to use these links for workplace discussions or posting on your intranet site.


10 weight loss drug updates (beckersspine.com)


Employed caregivers struggle to balance responsibilities of both work and family (benefitspro.com)


Benefits and culture strategies to retain women workers (hrexecutive.com)

edHEALTH in the News

The Captive Insurance Times Annual Report is always full of interesting and timely content. We're pleased to share that they featured edHEALTH as a Vermont-captive case study and interviewed our own Tracy Hassett this year. You can read it here now.

Please Welcome Kelly Drake to edHEALTH!

Earlier this month, Kelly Drake, SPHR, CEBS, joined the team in our new Health Benefits Analyst/Membership Support position. She has extensive experience in Human Resources and is a valuable addition to edHEALTH. You'll learn more about Kelly in the coming months. In the meantime, feel free to reach out to her by email.

Want to learn more about the many benefits of edHEALTH?

Call Nancy McConaghy at 1.866.692.7473 ext. 702 or send her an email.

Please add lbarnstein@edrisk.org to your contacts so we're recognized as a safe sender.

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