Employee Benefits Report – April 2024

The Personalization Mandate: Tailoring Benefits to Boost Retention


Generation Z is primed to take over as the largest generational group in the workforce. This seismic shift means employers must get creative in how they attract and keep top talent across diverse ages and life stages. One area ripe for a refresh is employee benefits communication and personalization. Read on for details.

Prioritize Care While Cutting Costs


As 2024 rolls on, employers expect healthcare costs to continue rising, making for the steepest increase in a decade, according to recent projections. With employer healthcare expenses anticipated to jump 8.5% nationwide, finding innovative solutions to reduce expenditures while supporting employee wellness has become paramount. Read on for details.

Navigating Compensation in the Era of Transparency


As healthcare costs continue their meteoric rise, employees are struggling under the weight of medical expenses. But a novel new benefit offers employers a way to attract top talent while empowering staff to manage costs. Read on for details.

Early Cancer Detection Saves Lives, Lowers Costs


A recent report reveals that early cancer detection through screenings can improve survival rates and reduce healthcare costs for employers. However, many organizations struggle to get employees screened due to a lack of awareness, time constraints, and reliance on third parties for care. Proactive efforts by employers to promote screening compliance can lead to better outcomes. Read on for details.

Employee Benefits Report – March 2024

2024 Benefits Trends: What Employers Need to Know


As the COVID-19 pandemic recedes into the rearview mirror, employers are shifting their focus to new challenges in the benefits space. With medical costs projected to rise 8.9% in 2024, many companies will need to make difficult decisions about their health and welfare offerings. They’ll also face growing pressure to support employees’ financial, physical and mental well-being. Read on for details.

SECURE 2.0 Means Major Retirement Changes in 2024


With the start of 2024 comes a wave of substantial changes to the retirement landscape caused by the rollout of version 2.0 of the Setting Every Community Up for Retirement Enhancement (SECURE) Act, which was passed by Congress in 2022. The legislation contains provisions aimed at increasing retirement savings and preparedness for millions of U.S. workers. Read on for details.

Stricter New Rules Limit Independent Contractor Hiring


As healthcare costs continue their meteoric rise, employees are struggling under the weight of medical expenses. But a novel new benefit offers employers a way to attract top talent while empowering staff to manage costs. Read on for details.

4-Evolve Your Benefits as Your Workforce Ages


The makeup of the American workforce is changing drastically. As baby boomers age, the number of employees over 75 continuing to work is skyrocketing at an unprecedented rate. Employers must now reevaluate their benefits packages to meet the needs of an older, more diverse population. Read on for details.

Life & Health Insurance Advisor – Spring 2024

8 Top Tips from Millionaires for Growing Your Retirement Nest Egg

retired couple on boatWhen it comes to saving and investing for retirement, millionaires tend to do things a bit differently than the average American. With their substantial net worth and investing savvy, they employ unique strategies to continually build their wealth over time. By modeling some of their habits, you can put your retirement savings efforts on the fast track.Read on for details.

What Is First-to-Die Life Insurance and Do You Need It?

couple reading documentYou and your spouse may rely on both incomes to afford your mortgage, save for retirement or college, or pay other monthly bills. So what would happen financially if one of you passed away prematurely? First-to-die life insurance could provide income replacement or pay off debts to support the surviving spouse.Read on for details.

How to Pick the Best Health Plan at Work

employees exchange high fiveWhen open enrollment comes around, you may feel overwhelmed evaluating the health insurance options your employer offers. However, arming yourself with key information can make navigating this decision much smoother. Follow this practical guide to choose the plan that best fits your needs and saves you money. Read on for details.

Important Retirement Trends to Keep an Eye On

Retirement is never static. From side hustles to soaring prescription costs, the nature of retirement continually evolves. As a retiree or soon-to-be retiree, staying apprised of the latest retirement trends is essential for financial security. Read on for details.

Employee Benefits Report – January 2024

Sick Days Have Doubled, but Morale Is Up


In the last few years, employers across the nation have seen a dramatic shift in how their workers approach sick leave. Read on for details.
 
 

New Solutions for Employee Mental Health


More than one in five U.S. adults suf¬fer from mental illness each year, according to the National Alliance on Mental Illness. An estimated four percent have attention deficit hyperactivity disorder. Read on for details.
 
 
 

Healthcare Credit Cards: The Employee Benefit That Pays You Back

As healthcare costs continue their meteoric rise, employees are struggling under the weight of medical expenses. But a novel new benefit offers employers a way to attract top talent while empowering staff to manage costs. Read on for details.
 
 

Government Tips for Accurate EEO-1 Reporting

The U.S. Equal Employment Opportunity Commission (EEOC) has released new guidelines to assist employers in correctly submitting their 2022 EEO-1 reports. Read on for details.

Employee Benefits Report – December 2023

What’s Driving Benefit Costs Up 7% for 2024?

U.S. employers should brace for a 7% hike in healthcare costs next year, fueled largely by chronic conditions, costly prescriptions, and catastrophic claims, according to new data. Read on for details.
 
 

How Loss of Childcare Funding Will Impact the Workplace

A crisis is looming for working parents across the country as federal pandemic relief funding for childcare expired on September 30, threatening affordable care op¬tions. Employers stand to face major workforce disruptions if they don’t take action to support employees with childcare needs. Read on for details.

How Claims Data Analyses Can Make Healthcare More Affordable

Employer-sponsored health insurance represents the single largest source of healthcare coverage in the U.S., accounting for roughly $1.3 trillion in annual spending. Read on for details.
 
 

Support Your Staff As They Transition Back to Making Student Loan Payments


Now that federal student loan payments have restarted after a nearly three-year pause, HR teams can play a key role in supporting employees through this transition. With over 45 million Americans holding $1.77 trillion in stu¬dent debt, many workers face renewed financial burdens from monthly payments. Read on for details.

Life & Health Insurance Advisor – Winter 2023

Retirement Planning When You’re Your Own Boss

woman contemplatingBeing your own boss comes with perks like flexibility and freedom. But it also means you lack access to traditional employer-sponsored retirement plans.Read on for details.
 
 

The Self-Employed Person’s Guide to Navigating Health Insurance

laptopWhen you decide to strike out on your own and start a business, one of the first things you need to figure out is health insurance. You do have options, but navigating the world of private plans, public programs, and alternative arrangements takes some homework.Read on for details.

Five Life Insurance Don’ts: How to Avoid Putting Your Family at Financial Risk

baby hand graspingMaking sure your family is financially protected if something happens to you is one of the most important things you can do. That’s where life insurance comes in. But, buying a policy comes with potential pitfalls. Avoid these common mistakes when getting coverage so you don’t inadvertently put your loved ones at financial risk.Read on for details.

New 401(k) Superpowers: How Your Plan Will Work Smarter for You

Your 401(k) is getting ready for a high-tech makeover. Cutting-edge upgrades are arriving that will supercharge these workplace retirement plans like never before. Artificial intelligence, new savings options, and simplified lifetime income choices are some of the new capabilities coming soon from 401(k) providers across the industry. Read on for details.

Employee Benefits Report – October 2023

Seven Strategies for Helping Employees Understand Their Benefits

A recent survey found that 81% of employees want more information about company-sponsored benefits throughout the year, yet 47% don’t know enough to make informed choices during open enrollment. Read on for details.
 

Preventative Health Helps Cut Costs without Cutting Care

With healthcare expenses only continuing to rise, employers are seeking innovative ways to curb costs while still providing quality care for their workforce. New data reveals strategic investments in preventative services and cutting-edge technologies can significantly reduce spending on serious medical interventions down the line.

On-Demand Pay Reduces Employee Financial Stress

A recent surge in on-demand pay benefits offers employers a powerful tool to reduce employee financial stress. With workers increasingly squeezed by economic uncertainty and the rising cost of living, the ability to access wages immediately is becoming a highly sought-after benefit. Offering this perk can boost worker loyalty, motivation, and productivity. Read on for details.

Are Weight-Loss Drugs The Next Big Benefit?

With nearly half of American adults saying they would be interested in taking prescription weight-loss medications if covered by insurance, employers may soon face rising pressure to provide coverage for these drugs in their health plans. But concerns around safety, efficacy and costs are giving some employers pause.Read on for details.

Employee Benefits Report – September 2023

Controversial Bills Target Employer Obligations

A series of high-profile bills recently cleared a key Senate committee which could substantially impact employers’ obligations regarding unions, pay equity, and paid leave. Read on for details.
 
 

Is Your In-House Medical Program Exposing You to OSHA Citations?

The Occupational Safety and Health Administration (OSHA) is devoting more attention to scrutinizing employers’ inhouse medical programs for general duty clause violations related to alleged medical mismanagement of injured workers. Read on for details.
 

Bridging the Gap Between Working and Pumping: Keys to Supporting New Moms

The passage of the Providing Urgent Maternal Protections for Nursing Mothers Act (PUMP) represents a major step forward for breastfeeding moms in the workplace. Read on for details.
 
 

Unlimited PTO Gaining Traction: Is Now the Time?

In recent years, a growing number of employers have been experimenting with unlimited paid time off policies. But is now the right time for your organization to make the switch?Read on for details.

Life & Health Insurance Advisor – Fall 2023

Unraveling the Mystery of Life Insurance to Safeguard Your Family’s Financial Future

annuitiesLife insurance is a safety net for your family’s financial future. It helps them manage the financial fallout after you’re gone. But it’s not as simple as signing up for a plan. Before you can decide on a policy, you need to understand the different types. Read on for details.
 

Surviving the Retirement Healthcare Hike: Practical Tips for the Modern Retiree

lose weightDuring the COVID-19 pandemic, telehealth became more popular and accessible, providing a convenient way for patients to connect with their doctors.Read on for details.

 

Stretching Your Retirement Dollars: Factors to Consider Before Retiring Overseas

vaxxedAs retirement edges closer, the question of how and where to spend those golden years becomes more pressing. Retiring overseas has become an increasingly attractive option, offering an opportunity for adventure, cultural immersion, and, potentially, a lower cost of living. But before you dive into this significant lifestyle change, there are crucial factors to weigh. Read on for details.

Avoid These Common Mistakes for a Stress-Free Retirement

Transitioning into retirement transforms your daily routine in many ways, presenting opportunities to engage in hobbies, support others, or even travel extensively. This stage can last several decades, so careful preparation and avoiding common mistakes are essential. Read on for details.

Employee Benefits Report – July 2023

Unlocking Employee Potential with Divorce Coaching Benefits

A divorce is a life event that is both common and challenging, and its impact on an employee’s professional life can be profound. The most recent CDC data shows that over 34% of marriages end in divorce. Read on for details.
 

The Silent Crisis: Rising Mental Health Problems at Work

An undercurrent of mental health issues is disrupting workplaces across the United States, leading to concerns about productivity, engagement, and retention. The Society for Human Resource Management (SHRM) recently released a report revealing a startling trend: an increasing number of U.S. employees are battling mental health issues, often directly resulting from their work environment. Read on for details.

The IRS Takes on Inflation: Major Changes in HAS and HDHP for 2024

High inflation continues to shape the economic narrative of the nation. Now the Internal Revenue Service (IRS) has responded by unveiling significant modifications to the health savings account (HSA) and high-deductible health plan (HDHP) limits for the year 2024. Read on for details.

How to Compete in Today’s Tight Labor Market

The 2023 labor market continues to tighten, creating challenges and opportunities for employers. Compensation is a key aspect of these dynamics. Mercer’s latest data reveals that pay increases this year are the highest since the 2008 financial crisis.Read on for details.

Employee Benefits Report – June 2023

The Healthcare Affordability Gap: Employer Confidence Meets Employee Skepticism

pills and dollarsThe burden of paying for healthcare benefits has grown substantially for many employers. As the average expense for employee healthcare is projected by the Society for Human Resources Management to increase by 6.5 percent in 2023, surpassing $13,800 per employee, businesses of all sizes struggle to balance their budgets while ensuring their workforce remains healthy and productive. Read on for details.

Reimagining Retirement: The Case for a Return to Pension Plans

two empty adirondac chairsAs the retirement crisis looms, experts are exploring innovative solutions to ensure a secure financial future for America’s workforce. One such solution is a return to pension plans, which could provide the stability and affordability employers and employees seek. Read on for details.

Rethinking Employee Benefits: Strategies for Enhancing Worker Satisfaction

employee meetingRecent data reveals a troubling trend: employee satisfaction with workplace benefits has reached its lowest point in a decade, falling to 61 percent in 2023 from 64 percent in 2022.
Read on for details.
 

Supporting Employee Mental Health After Tragic Events

rubber stampsArising number of mass shootings have been reported across the United States in recent years, with a significant increase in 2023. These tragic events considerably impact employees’ mental health, making it essential for employers to offer support in these challenging times. E Read on for details.

Life & Health Insurance Advisor – Summer 2023

Use the 4% Rule to Secure Your Financial Future

couple
Visions of a fulfilling retirement often include travel, leisurely pursuits, and quality time with loved ones.Read on for details.

 

New DEA Rules Could Reduce Telehealth Access

cell phoneDuring the COVID-19 pandemic, telehealth became more popular and accessible, providing a convenient way for patients to connect with their doctors.Read on for details.
 
 

Why You Should Buy Life and Disability Insurance Together

familyLife insurance and disability insurance each play an important role in ensuring the financial security of your family. There are advantages to purchasing both products together Read on for details.
 
 

Biden Administration and Congress Attempt to Secure Future of Medicare

As Medicare faces the risk of depleting its reserves by 2028, the Biden administration, Congress, and healthcare industry stakeholders are working to address healthcare affordability and Medicare Advantage payment issues. Read on for details.