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Employers face rising healthcare costs as Lockton positions employee benefits trio to offer reprieve

Todd BauerTodd Bauer, Bob Russell and Marc Gentile to lead employee benefits team in Philadelphia

PHILADELPHIA, Dec. 12, 2018 Rising healthcare costs, a competitive talent market and increasing employee engagement are three key challenges facing employers today. Todd Bauer, senior vice president and employee benefits practice leader, Bob Russell, vice president of employee benefits, and Marc Gentile, vice president and team leader, work together in Philadelphia to help businesses get to the heart of their major employee benefits challenges.

“Employers are feeling the pressure to offer competitive benefits while managing healthcare and human capital costs in an employment market where candidates have many options.” said Timothy Ryan, chief operating officer of Lockton in the Northeast.  “Our team of employee benefits experts, paired with our in-house tools, have the ability to aggregate data, understand cost drivers and develop actionable strategies.” Bob Russell

InfoLock, Lockton’s proprietary data analytics platform, gives employers and Lockton experts insight on the risks they face in their employee population. As employers continue to face more frequent high severity claims for both medial and pharmacy, Bauer emphasizes the need for employers to make data driven decisions.

“I joined Lockton because the tools and resources, such as InfoLock, and our in-house clinicians, pharmacists, health risk solutions team and stop loss centers of excellence, are second to none.” Bauer said.

Russell, also a seasoned employee benefits veteran with more than 15 years in the industry, says that employers should also be focusing on nontraditional benefits to increase productivity and recruitment. The costs of lost productivity are 2.3 times higher than medical and pharmacy costs according to research from Deloitte. Financial WellnessFinancially stressed employees are also more likely to take off work when they are not physically ill, according to Lockton’s 2018 Financial Wellness white paper. Financial, mental and physical wellness are just a few of the additional benefits candidates are seeking when deciding where to work. 

Marc GentileGentile rounds out the trio of experts as an employee benefits team leader. He works with clients to develop long-term employee benefit strategies for their employees and their business while also leading a team of employee benefits professionals in Philadelphia.

Lockton has two locations in Philadelphia. The City Center office is located at 1800 John F. Kennedy Blvd, suite 1110, Philadelphia, PA 19103 and can be reached by calling 215-982-7000. The second office is located at 751 Arbor Way, Suite 250, Blue Bell, PA 19422 and can be reached by calling 215-583-9300. 

About Lockton

Lockton is a global professional services firm with 7,000 Associates who advise clients on protecting their people, property and reputations. Lockton has grown rapidly by helping clients achieve their objectives. For ten consecutive years, Business Insurance magazine has recognized Lockton as a "Best Place to Work in Insurance.”

Footnotes

2018 Deloitte Human Capital Trends - https://www2.deloitte.com/content/dam/insights/us/articles/HCTrends2018/2018-HCtrends_Rise-of-the-social-enterprise.pdf

Lockton’s 2018 Financial Wellness white paper - https://www.lockton.com/whitepapers/White_Paper-Financial_Wellness-Oct18.pdf

    
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