Employee Benefits Strategies for Small Businesses
Running a small business comes with many responsibilities, including attracting and retaining top talent. As a small business owner, you may face unique challenges in offering competitive employee benefits compared to larger companies with more extensive resources. However, providing a well-rounded benefits package can be a powerful tool to create loyalty and boost employee job […]
Post-Open Enrollment: How to Ensure Your Employees Use Their Benefits
Open enrollment season may be (or almost) over, but it’s just the beginning of an essential phase in employee benefits management: ensuring that employees use and benefit from the coverage they’ve chosen. This is especially important now considering that projections show that the cost of employee benefits will continue to rise year over year. Effective […]
2024 Employee Benefits Trends to Monitor For 2025
As we approach 2025, it’s essential for employers to stay informed about the latest shifts in employee benefits. Employee expectations are shifting, economic pressures are mounting, and employers are striving to balance cost-effectiveness and comprehensive benefits. New trends in healthcare, technology, and wellness are reshaping how businesses approach their benefits offerings. Understanding and adapting to […]
AI and Employee Assistance Programs (EAPs)
Remember the days when seeking help for stress, anxiety, or burnout meant whispered phone calls from a secluded office and the stigma of hushed conversations? Thankfully, those days are fading. A quiet revolution is underway in how we approach mental health in the workplace, and artificial intelligence (AI) is leading the change. AI is transforming […]
Legal Alert: Don’t Forget About Your Gag Clause Attestations
When the Consolidated Appropriations Act, 2021 (the “CAA”) was enacted on December 27, 2020, it included a provision that prohibits group health plans and health insurance carriers from entering into certain agreements that, either directly or indirectly, restrict the release of certain information related to provider networks and de-identified encounter data, among other things. Such […]
Are You Prepared to Comply with the New Mental Health Parity Final Rule in 2025?
On September 9, 2024, the DOL, IRS, and HHS released a final rule for the Requirements Related to the Mental Health Parity and Addiction Equity Act (The “MHPAEA Final Rule”). The MHPAEA Final Rule is similar to the Proposed Rule released on July 25, 2023, with some marked differences. While the MHPAEA Final Rule is […]
Employer Dilemma: Healthcare Affordability
As a business owner, one of the biggest challenges is managing the rising costs of healthcare benefits while ensuring your employees receive the coverage they need. Healthcare affordability is a growing concern for employers, especially small businesses that may not have the resources of larger corporations. Striking the right balance between cost and quality can […]
Reasons Why Health Insurance Is More Important Than Ever for Your Hourly Employees
Imagine facing a medical emergency without insurance. It’s not just the stress of the illness or injury but the looming financial burden that could follow. With the cost of treatments skyrocketing and the prevalence of chronic diseases on the rise, the need for health insurance has grown. What was once optional or considered supplementary is […]
IRS Adjusts Health Flexible Spending Account and Other Benefit Limits for 2025
On October 22, 2024, the Internal Revenue Service (IRS) released Revenue Procedure 2024-40, which increases the health flexible spending account (FSA) salary reduction contribution limit to $3,300 for plan years beginning in 2025, an increase of $100 from 2024. Thus, for health FSAs with a carryover feature, the maximum carryover amount is $660 (20% of […]
Common Challenges of Underinsured Executives
Executives drive a company’s strategic vision, manage risks, and steer it through growth and challenges. However, a significant gap exists in how these high-level leaders protect themselves against potential personal risks, specifically the risk of disability. Executive disability insurance is often an overlooked or underfunded area, leaving many key individuals underinsured and vulnerable to significant […]
