SOURCE: Keas

Keas

August 28, 2013 09:00 ET

Keas Open Enrollment Program Helps Companies Maximize Healthcare's Annual Trillion-Dollar Moment

HR Survey Shows Majority of Companies on Track for ACA Compliance and Rank Health as a Top Priority for Boosting Employee Engagement and Productivity

SAN FRANCISCO, CA--(Marketwired - Aug 28, 2013) - Keas (www.keas.com), the market leader in corporate employee health and wellness, today announced it is offering the Keas Open Enrollment Program to help enterprises improve employee productivity and manage healthcare costs.

Keas is transforming the traditionally complex and time-consuming open enrollment process for HR teams and employees alike with a social approach that integrates quizzes, games and social challenges into its holistic health platform. 

Keas also introduced today findings from its HR Executive Survey that show improving employee health and reducing employee healthcare costs is an enterprise priority in 2014.

"Businesses understand that while wellness programs have historically been optional, employee health is mission critical," said Josh Stevens, CEO of Keas. "Our survey results show that health in the workplace is a strategic priority for 2014 -- it will drive employee productivity and ultimately manage healthcare claims costs. At Keas, our mission is to help enterprises put 'health' back into health benefits by making the open enrollment process fun, social and effective."

Open enrollment is the healthcare industry's annual trillion-dollar moment* as enterprises and employees select their health benefits for the next year. A confusing process under any circumstances, this year HR teams face their toughest challenge yet with complex policy changes and rising healthcare costs.

The Keas HR Executive Survey reveals top open enrollment pain points including educating employees about available benefits (47 percent) and getting employees to participate in benefits selection (22 percent).

The Keas Open Enrollment Program makes an HR professional's job easier and also makes benefits education and selection fun, engaging and rewarding for employees. When open enrollment becomes a game, employees become more proactive in their selection, which can reduce time spent by HR executives tracking down delayed employee paperwork and vainly trying to engage employees in health and wellness programs.

2014 Employee Health and Healthcare Priorities
In addition to identifying open enrollment challenges, the Keas HR Executive Survey revealed health and wellness programs are taking center stage in employee engagement and retention. With healthcare costs and obesity-related diseases on the rise and wellness incentives baked into the Affordable Care Act (ACA), this will be the first year health will play a major role in health benefits as organizations integrate preventative care programs to manage costs.

  • 60 percent of HR Executives cite "lowering overall healthcare costs" and "improving overall employee health" as top priorities of 2014
  • 34 percent will focus on creating a company culture of health and increasing employee participation in existing health programs

The Enterprise is ready for Health Reform
Enterprises are keeping a close eye on health reform policy and a majority are well ahead of plans in preparing for these new requirements:

  • 74 percent of respondents were on track to becoming ACA compliant by January 2014 before the deadline shifted to 2015
  • 58 percent will still meet the original January 2014 compliance deadline
  • 39 percent worry they will be overwhelmed by employee communications and questions, when it comes to post ACA implementation concerns, but 23 percent say they have no concerns at all

CEO Key to Catalyzing Company Productivity and Workforce Growth
As 42 percent report that employee recruitment and retention is an HR priority in 2014, the actions of a company's CEO could have a lot to do with making recruitment and retention efforts successful. When asked which top three HR mistakes every CEO makes:

  • 64 percent said CEOs are guilty of not recognizing what truly motivates employees
  • 41 percent point out that CEOs fail to lead by example in the key HR initiatives deployed
  • 32 percent feel that CEOs deprioritize company culture

About the Keas Open Enrollment Program
The Keas Open Enrollment Program is available to companies for a limited time, starting on August 28, 2013 and running through September 10, 2013. For more information about, or to participate in, Keas' Open Enrollment Program challenge, please contact Keas at http://info.keas.com/EnrollmentChallenge.html 

About the Survey
Keas surveyed more than 100 Human Resource Executives across the United States via an online survey between July 31 and August 16, 2013. This survey tracked HR executive opinions on a variety of HR topics, as well as plans and priorities for the 2014 calendar year. The margin of error is +/- 9.32 percentage points.

About Keas
Keas is the most engaging health program in the workplace. Keas promotes healthy behavior and teamwork with an interactive application platform that delivers relevant, personalized content to hundreds of thousands of employees. Keas has a proven track record of supporting corporate HR in increasing retention, productivity, teamwork, collaboration and competitiveness. By rewarding people for achieving simple exercise and nutrition goals, employee health is improved and overall healthcare costs are decreased. Founded in 2008 by Adam Bosworth, Keas is headquartered in San Francisco, California. For more information or a demo, visit www.keas.com. Follow Keas on Twitter at @Keas and on LinkedIn at http://www.linkedin.com/company/keas.

Read more: http://keas.com/blog/keas-accelerates-growth/#ixzz2c4fLSnlx
* Last month the Bureau of Labor Statistics reported that more than 100 million private industry workers receive employer provided healthcare. Combined with Aon Hewitt's calculation that the average healthcare cost per employee in 2012 was $10,522, open enrollment becomes an instant one trillion dollar moment for the healthcare industry.

Contact Information

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