Employee Benefits Report – September 2022
Employers Should Beware of Compliance Issues with Abortion Benefits
The 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
Debt 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?
For 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
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
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
In 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
With 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
MetLife’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
In 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
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
The COVID-19 pandemic has had far-reaching effects on the nation’s mental health.
Read on for details.
Employers Concerned Over Hybrid Work
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
There 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
Many 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
As 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
Employers 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
The 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?
Research 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
The 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
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
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
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
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
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
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?
Which 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
Penalties 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
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
A 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
It’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
The 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
Employers 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
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
Are 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
With 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
Look 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.
Employee Benefits Report – December 2021
How the Pandemic Is Making Employer-Sponsored Life Insurance More Attractive
COVID-19 has driven up mortality rates, so it’s no surprise that life insurance companies are taking note. Read on for details.
How to Make Annuities Work with 401(k)s
The SECURE Act has made embedding annuities in 401(k)s more appealing to employees and safer for employers.
Read on for details.
Voluntary Benefits That Could Move the Needle for Employees in 2022
An increasing number of employees view health and other benefits among their top three reasons for job satisfaction, according to studies by Ameritas Life Insurance Corp.
Read on for details.
How to Legally Use Premium Discounts to Encourage Vaccinations
Three federal agencies have issued guidance indicating that employers may legally offer a reduced health benefit premium to employees who are vaccinated for COVID-19.
Read on for details.
Employee Benefits Report – November 2021
Impact on Business of Growing Interest in Paid Family and Medical Leave
There’s growing state and federal government interest in ensuring employees have access to paid family and medical leave. Read on for details.
Ways to “Carve-Out” Group Health Plan Savings
Employers who self-insure their group health care benefits may find that carve-outs will help keep their premiums lower. Read on for details.
COVID-19 Vaccination Mandate Raises Questions for Employers and Legal Scholars
Reaction to President Joe Biden’s COVID-19 mandate requiring most federal and private sector employees to get tested or vaccinated against COVID-19 ranges from supportive to defiant.
Read on for details.
Telehealth Education: Good for Employees’ Health
Now that the COVID-19 pandemic has highlighted how useful telehealth services can be, employers may wish to encourage employees to try this money-and time-saving option. Read on for details.
Employee Benefits Report – October 2021
How to Determine When Protections Apply to ADA and COVID “Long Haulers”
COVID-19 survivors who suffer long-term health challenges might qualify for protections under the Americans with Disabilities Act (ADA).
Read on for details.
Make Sure Voluntary Insurance Plans Are Really Voluntary
A voluntary plan that turns out not to be voluntary can also be a complicated maze of paperwork for an employer.
Read on for details.
Is It Possible to Save Too Much for Retirement?
While some employees aren’t saving enough for retirement, some save too much in their plans and pay the price in penalties. Read on for details.
Using Health Insurance Discounts to Fight Vaccination Hesitancy
The lure of lower health insurance premiums is enticing some employees to get vaccinated against COVID-19.
Read on for details.