Employee Benefits Report – December 2022

Access to Telemedicine Diminishes

Laptop Telemedicine saw a surge in popularity during the COVID-19 pandemic, as it allowed for social distancing and reduced the risk of infection spread. Read on for details.

 

Five Critical Issues for Employers Reporting for 2023 ACA Compliance

ACA Regs bookAccording to the Affordable Care Act (ACA), applicable large employers (ALEs) are obligated to offer full-time employees and dependents affordable minimum essential health coverage. They must also report to the IRS information about the health coverage plans they offer.
Read on for details.

Businesses Expand Employee Benefits Offerings to Attract and Retain Top Talent

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In today’s competitive labor market, offering traditional benefits like healthcare is no longer enough to attract and retain top talent. Business leaders should consider expanding their definition of employee benefits to meet the unique needs of their workforce. By providing a diverse range of benefits, companies can boost morale, increase job satisfaction, and improve retention rates. Read on for details.

Online Tools Help Employees Make Better Benefits Choices, Boost Engagement

LaptopThe traditional enrollment process for employee benefits, which often involved filling out paper forms and waiting for them to be processed, has shifted towards an online platform. Employers are now seeking ways to improve this experience by incorporating decision-support tools.Read on for details.

Employee Benefits Report – November 2022

Rising Healthcare Costs Compel Employers to Prioritize Plan Affordability

Stock Ticker
As healthcare benefits costs continue to rise, 67% of U.S. employers are focused on cost control over the next three years. This is in response to an expected 6% increase in healthcare costs in 2023, compared to the average 5% increase this year. Read on for details.

What to Consider When Choosing a Health Benefits Account

Piggy BankAccording to the Kaiser Family Foundation, approximately 156,199,800 Americans receive health coverage via employer-sponsored plans. Read on for details.
 
 

Inflation Reduction Act (IRA): Healthcare Provisions Employers Should Know

Pills and DollarsPresident Joe Biden signed the Inflation Reduction Act (IRA) into law on August 16, following House and Senate passage. Read on for details.
 
 
 

Hearing Health Should Be Top Priority

Jogger with earphonesHealth benefits are a top priority for most employers, but hearing health is often overlooked.
Read on for details.

Employee Benefits Report – October 2022

Could Looming Recession Endanger Remote Work?

Recssion Warning sigh
The ability to work from home has been a lifeline for many during the COVID-19 pandemic, but some feel that a recession could jeopardize that perk.
Read on for details.

 

Employers Look to Improve Health and Benefits Offerings Ahead of 2023 Open Enrollment

Open Enrollment
Despite the more challenging economic environment, employee turnover rates have not improved significantly. According to the US Bureau of Labor Statistics, 4.2 million people quit their jobs in June 2022, showing little change. Read on for details.

Fertility Treatments Could Be Affected by State Abortion Bans

doctor and coupleIn states where abortion has been banned, fertility treatments could also be affected, even if unintentionally. If the wording of the abortion bans is not careful, it could make some fertility treatments illegal and make it more difficult for people to access them. Read on for details.

Virtual Physical Therapy: The Rise of Telerehabilitation

woman in yoga positionHealthcare experts predict that virtual physical therapy of musculoskeletal conditions will become increasingly popular and will likely comprise a significant portion of telehealth services delivered in the future. Read on for details.

Employee Benefits Report – September 2022

Employers Should Beware of Compliance Issues with Abortion Benefits

couple looking at billThe recent Supreme Court ruling on abortion has left many employers scrambling to understand the impact it will have on their ability to provide health coverage for their employees. Read on for details.
 
 

Removing the Stigma Surrounding Debt Benefits

grandparents walkng with grandchildDebt is often a taboo topic, but it’s essential to talk about it openly.
Read on for details.
 
 
 

Can Menopause Benefits Create a Happier, More Productive Workforce?

grandpa and grandson putting money in a piggy bankFor many years, women in the workforce have ignored what makes them different from their male counterparts to prove they are just as capable. Read on for details.
 
 
 

Proposed Overtime Rule Scheduled for October

pre-school The US Department of Labor (DOL) is now expected to release its proposed overtime rule in October, according to the spring regulatory agenda released on June 21st. Read on for details.

Employee Benefits Report – August 2022

Big Increases in Voluntary Benefits Participation

couple looking at bill
According to a survey by professional services firm Aon, the number of employers offering voluntary benefits increased by 41 percent from 2021 to 2022.
Read on for details.
 

DOL Issues Mental Health Parity Act Enforcement Warning

grandparents walkng with grandchildIn 2021, Congress passed the Consolidated Appropriations Act to put teeth into the Mental Health Parity and Addiction Equity Act (MHPAEA) of 2008. Read on for details.
 
 

How to Use Benefits to Improve Talent Acquisition and Retention

grandpa and grandson putting money in a piggy bankWith over 4 million more job openings than employees to fill them, the task of talent acquisition and retention has become a significant challenge for many companies. Read on for details.
 
 

Zillennials Challenge Traditional Workplace Conventions

pre-schoolMetLife’s 20th Annual Employee Benefit Trends Study shows job satisfaction has tumbled to a two-decade low. Zillennials – who represent the generation born between 1993 and 1998 – exhibit the lowest level of satisfaction.
Read on for details.

Employee Benefits Report – July 2022

IRS Increases 2023 HSA and HDHP Contributions

couple looking at billIn late April, the IRS announced a significant increase in health savings account (HSA) and high-deductible plan (HDHP) contribution limits prompted by rising inflation. Read on for details.
 
 

Making Changes to Caregiving Benefits in the Era of Hybrid Work

grandparents walkng with grandchild The COVID-19 pandemic has forced many workers to adapt their schedules and work styles to accommodate new childcare and eldercare responsibilities. Read on for details.
 
 

Best Practices for Substance-Misuse Benefits

grandpa and grandson putting money in a piggy bankThe COVID-19 pandemic has had far-reaching effects on the nation’s mental health.
Read on for details.
 
 
 

Employers Concerned Over Hybrid Work

pre-school The shift to a hybrid work model has created new challenges for employers, who must now accommodate remote and on-site employees.
Read on for details.

Employee Benefits Report – June 2022

House Passes SECURE Act 2.0

couple looking at billThere will be fundamental changes to retirement legislation if the Senate passes the SECURE Act 2.0, which the House of Representatives overwhelmingly passed by a vote of 414 to 5 in March. Read on for details.
 

Pros and Cons of the 4-Day Workweek

grandparents walkng with grandchildMany workers have cited the four-day workweek as a high-ly desirable employee benefit. A Qualtrics survey conducted in January found that 92% of people support the concept and believe it would improve their productivity and mental health. Read on for details.

 

The Growing Popularity of Earned Wage Access

grandpa and grandson putting money in a piggy bankAs a result of a shortage of talent affecting many companies, managers are trying to find new ways to attract and retain employees. One approach seeing a lot of traction is Earned Wage Access (EWA). Read on for details.
 

Remote Working Still Among the Most Desirable Employee Benefits

pre-schoolEmployers are finding it increasingly difficult to attract and retain talent due to several factors, including the Great Resignation and demographic issues. The career insights platform Lensa, though, has studied US search trends to figure out what employees want.
Read on for details.

Employee Benefits Report – May 2022

How the Ukraine Crisis is Affecting the US Workforce

couple looking at billThe Ukraine crisis is having unforeseen effects on the US workforce that may be more far-reaching than expected. Read on for details.
 
 
 

Should Preventative Care Be an Essential Benefits Component?

grandparents walkng with grandchildResearch by One Medical, a primary care organization, and Workplace Intelligence, an HR and advisory firm, reveals that 65% of workers would give up a wide range of perks, including paid vacation, flexible hours, and bonuses for better health benefits. Read on for details.

DOL Announces Increase in FMLA Audits – Employers Should Be Ready

grandpa and grandson putting money in a piggy bankThe US Department of Labor (DOL) announced in February that it would be ramping up audits on employers. he main targets seem to be the logistics and warehouse industries, though no one is safe. Read on for details.
 

The CAA’s New Broker Compensation Disclosure Rules Are Now in Effect

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When employees decide to leave their jobs, they have a lot on their minds. So, they don’t always give a lot of thought to what to do with their 401(k) plans. It’s an important decision that can have a big impact on their retirement savings.
Read on for details.

Employee Benefits Report – April 2022

Compliance Issues for The Rest of 2022

couple looking at bill
Even though we are well into 2022, there are compliance issue changes on the horizon involving overtime, booster shots and paid leave. Here’s what the changes could mean to your company this year. Read on for details.

Life Insurance for the Life of Your Business

grandparents walkng with grandchild Life insurance is usually purchased to protect a family’s finances when the breadwinner dies. But business owners may also wish to purchase life insurance to protect partners, the business and employees. Read on for details.
 

Employers’ Guide to Understanding ERISA

grandpa and grandson putting money in a piggy bank The Employee Retirement Income Security Act (ERISA) provides insurance companies and private employers with guidelines on how to administer retirement and health plans to employees. ERISA was enacted in 1974 and applies to plan years starting on or after Jan. 1, 1975. Read on for details.

401(k)s Do’s and Don’ts

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When employees decide to leave their jobs, they have a lot on their minds. So, they don’t always give a lot of thought to what to do with their 401(k) plans. It’s an important decision that can have a big impact on their retirement savings. Read on for details.

Employee Benefits Report – March 2023

How to Fight the Employee Exodus

couple looking at bill
Officially, the COVID-19 pandemic may have started two years ago, but its side effects are still wreaking havoc in the workplace. Read on for details.

 

What Can Employers Do About High Drug Costs?

grandparents walkng with grandchildWhich of your employer-sponsored health plan costs cause you the most headaches?
Read on for details.
 
 
 

Not Following the Employer Mandate Can Mean Stiff Penalties

grandpa and grandson putting money in a piggy bankPenalties apply not only if coverage isn’t offered – but if the wrong coverage is offered.
Read on for details.
 
 
 

Why It Makes Sense to Offer a Digital Security Benefit to Employees

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Digital security is a popular new benefit that not only protects employees but helps employers, too.
Read on for details.

Employee Benefits Report – February 2022

No Surprises Act Fails to Remove All Surprises

couple looking at billA new document designed to clarify the No Surprises Act regulations addresses some medical billing issues but leaves other important guidance to be determined later.
Read on for details.
 

Early Retirees Need Health Coverage Options

grandparents walkng with grandchildIt’s a dream come true for many Americans when they realize they can retire early.
Read on for details.
 

 

New Saving Incentive for Grandparent-Owned 529 Plans

grandpa and grandson putting money in a piggy bankThe Consolidated Appropriations Act has made it easier for grandparents to save money for grandkids in an employer-sponsored 529 plan — starting with the 2023-2024 academic year. Read on for details.

 

DCAP — Use it or Lose It

pre-schoolEmployers who are interested in implementing a Dependent Care Assistance Plan (DCAP) or adopting additional flexibility should consult legal counsel, as well as the Internal Revenue Service’s (IRS) Notice 2021-26. Read on for details.

Employee Benefits Report – January 2022

Pre–Tax Flexible Benefits — The Pros and Cons of Cafeteria Plans

employee benefits notebook
A cafeteria plan, also known as a Section 125 plan, is a way for employers to provide multiple benefits while lowering taxes for themselves and their employees. Read on for details.
 
 

How to Avoid the Legal Pitfalls of Telecommuting

woman working from homeAre you an employer who started letting employees work from home during the COVID-19 pandemic?
Read on for details.
 
 

What to Expect for Retirement Savings Plans in 2022

stacks of coins and 2022 signWith a new year often comes new rules. Here’s what the federal government has planned for retirement savings plans in 2022. Read on for details.
 
 

No Single Benefit Interests Every Age Group

group of people of varying agesLook around a typical workplace and you’re likely to see four generations of employees — Baby Boomers, Generation Xers, Millennials and Generation Zers.
Read on for details.