The Importance of Reconciling Your Employee Benefits
Employee benefits are one of the largest and most complex expenses many employers manage — and they also include strict fiduciary obligations. Yet many organizations assume that once open enrollment ends and payroll deductions are set, everything will continue to run
How Your Staff Can Save on Childcare, Health Services
One of the most underused employee benefits available is the "cafeteria" plan ― which can benefit both the employer and the employee. These plans allow workers to withhold a portion of their pre-tax salary to cover certain medical or childcare expenses.
Remote Workers Find Benefits Selection Difficult
A new survey has found that remote workers have a more difficult time choosing benefit plans that are the right fit for them compared to their colleagues who work on-site or have hybrid remote-office schedules. The poll by MetLife found that
Group Health Premiums Set to Rise 6.5%: Poll
U.S. employers can expect to see their group health insurance premiums climb an average of 6.5% in 2023 from this year, according to a new study. Economic inflationary pressures will push the average premium cost per employee to about $13,800, compared
Two-thirds of Small Firms Are Boosting Their Benefits Packages: Poll
Now more than ever, employers need to step up their employee benefits game beyond providing group health insurance. Thanks to the Great Resignation, employees are demanding more from their current and prospective employers. And those that don't deliver lose employees or
Importance of Educating Gen Z Workers on Benefits
It always takes more time than usual to onboard new employees — particularly ones who are new to the workforce altogether — to your employee benefits plans. Keep in mind that the ritual of choosing a benefits package is a brand-new
Pandemic Spurs Supplemental Benefits Uptake Among Workers
A new study has found that in response to the COVID-19 pandemic nearly half of U.S. workers added one new supplemental health-related benefit on top of their group health coverage. The 2021 “Aflac WorkForces Report” found that 44% of employees bought
Employers Mull Higher Health Plan Cost-Sharing for Unvaccinated Staff
Some employers are considering a new incentive for their workers to get vaccinated against COVID-19: Charging them higher health insurance premiums if they don't. A recent brief from consulting firm Mercer reported that employers are looking at surcharging the health insurance
HHS Proposes Higher Cost-Sharing Limits for 2022
The Department of Health and Human Services has proposed cost-sharing limits that would apply to all Affordable Care Act-compliant health insurance policies for the 2022 policy year. The ACA imposes annual out-of-pocket maximums on the amount that an enrollee in a
IRS Lets Employers Give Workers a Break on FSA Contributions, Health Plan Rules
New guidance from the Internal Revenue Service allows employers to temporarily give their employees extra benefits leeway in making changes to their flexible spending accounts (FSAs) and health savings accounts (HSAs). The guidance, in response to the COVID-19 pandemic, also allows