Voluntary Benefits Demand Surges as Employees Seek to Defray Costs
Sales of voluntary group benefits grew at a record pace in 2023 as more employers expand their offerings and demand continues booming as employees seek out benefits that can defray costs, according to new research. Premiums collected for employer-sponsored voluntary benefits
New Fiduciary Rule Affects Employers That Offer HSAs
The Department of Labor's new fiduciary rule, which mainly applies to 401(k) plans, will also affect employers who offer their staff health savings accounts. The new rule, which takes effect September 2024, bars employers from providing advice to their workers
Gen Z Workers Go for HDHPs, but Don’t Forget Your Other Employees
While the number of U.S. workers choosing high-deductible health plans has leveled off during the last two years, uptake has been growing rapidly among one segment of the working population: Gen Z employees. The 2024 "State of Employee Benefits Report" by
Addictions Are Rising Among Workers; What Employers Can Do
According to a study by the Substance Abuse and Mental Health Services Administration, 10% of America’s workers are dependent on one substance or another. The nation is still battling the biggest drug scourge: opioid and fentanyl. Provisional data from CDC's National
HRA Gym Cost Reimbursement? Not So Fast Says IRS
The IRS has issued a new bulletin, reminding Americans that funds in tax-advantaged medical savings accounts cannot be used to pay for general health and wellness expenses. The bulletin focuses on medical savings accounts that employers will often sponsor, including flexible
2025 HSA Contribution, HDHP Cost-Sharing Limits
The IRS has announced significantly higher health savings account contribution limits for 2025, with the amount increasing 3.6% for individual HSA plans. The IRS updates this amount annually, along with minimum deductibles as well as the out-of-pocket maximums for high-deductible
Interest in Health Premium Reimbursement Accounts Grows
Employer adoption of specialized accounts that they fund to help reimburse employees when they buy health insurance on their own is surging in 2024. The number of employers who offer individual coverage health reimbursement accounts (ICHRAs) grew 30% in 2024 from
Worker Enrollment in HDHPs Falls
After enrollment in high-deductible health plans soared during the last decade, 2022 marked the first year that enrollment in these plans fell among American workers since 2013, according to a new report by ValuePenguin. The insurance-review website found that 54%
DOL Rescinds Trump-Era Association Health Plan Rule
The Department of Labor on April 29 issued a final rule rescinding Trump-era regulations that expanded the number and types of employers that could band together to create association health plans to cover their employees. The 2018 regulations, which have
Pregnant Workers Fairness Act Final Rules: What Employers Need to Know
The Equal Employment Opportunity Commission has published a Pregnant Workers Fairness Act final rule that will give new protections akin to disability accommodation under the Americans with Disabilities Act. The rule, which takes effect June 18, will require employers to make