There are 4 main generations in the 2022 workforce, consisting of Gen Z (around 5%), Millennials (around 35%), Gen X (around 33%), and the Baby Boomers (around 25%). Each of these age groups has their own healthcare wants and needs. Employers should be aware of their employee population and their …
Employers and employees alike must prepare for open enrollment. Employers must update materials and properly communicate benefit offerings to their employee populations. Meanwhile, employees need to be familiar with their needs and their family’s needs in order to properly enroll in the most appropriate benefits. Preparing as an employer Effective …
When preparing for open enrollment, it is important to understand your options. Health Saving Accounts (HSAs), Health Reimbursement Arrangements (HRAs), and Flexible Spending Accounts (FSAs) are often offered in conjunction with a health plan. Knowing the advantages of each can allow for an easier open enrollment process. Health Savings Account …
Gen Z is now the largest group entering the workforce, and their health care desires differ from previous generations. For perspective, there are approximately 65 million American Gen Zers, those born between 1997 and 2012. By 2030, they will account for 30% of the workforce. As this generation begins their …
As an employer choosing which health plan to offer, many considerations must be taken. In a perfect world, an employer chooses a plan that keeps costs down but also fits employees’ needs, boosting overall satisfaction and retainment. However, finding that perfect combination isn’t always easy when there are so many …
The Great Resignation and the COVID-19 pandemic highlighted the importance of employee perks and benefits. In especially trying times, employees fixated on health, financial security, and the work-life balance. Employees who found these areas lacking left their workplaces in favor of those with better wages and benefits. According to a …
July is Healthy Vision Month, a time to spread awareness and advocate for healthy vision. Eye health directly impacts your performance and safety at home and in the workplace. Vision insurance is one of the more popular voluntary benefits offered by employers. Preventative health, through routine eye exams, is an …
With such a high inflation rate, consumer goods and employee benefits have experienced a notable price increase. Employee Benefit Research Institute conducted a survey and confirmed one-third of U.S. employees saw an increase in their health costs within the past year. However, there are ways employers can mitigate benefits costs …
With gas prices on the rise, commuter benefits are becoming increasingly popular. Through employers, commuter benefits allow employees to use tax-free dollars on commuting expenses, saving employees money on annual taxes. Qualified expenses may include: Parking costs – parking on or near the business premises. It could also include parking …
As COVID-19 locked down the country, telehealth rapidly gained popularity, especially for behavioral and mental health services. Unlike most doctor visits, mental health visits typically do not require face-to-face meetings. Visits can be conducted via video or even audio calls, though many physicians prefer video calls in order to read …
Pride Month is celebrated each June to commemorate the 1969 Stonewall Uprising in Manhattan, the tipping point for the United States’ Gay Liberation Movement. The purpose of this initiative is to acknowledge the impact the LGBTQ+ community has had on history. Individuals and organizations celebrate differently, but it is common …
A medical condition that reduces an employee’s ability to perform their work duties, usually due to an illness or injury, is considered a disability. Statistically, one in three employees will miss more than one month of pay as a result of an injury or illness. Without disability coverage, employees stand …
For most, Memorial Day is the unofficial start of summer. This weekend numerous families will flock to the beach, go camping, or grill in the backyard. Outdoor activities will become much more common and popular as the weather warms. If you are planning to spend time outdoors, you need to …
A public opinion survey found that approximately 72% of patients are confused by their medical bills, and 94% have received bills they believed were “too expensive.” Medical bills are notoriously hard to read and understand, which often leads to overpayment. Hospitals and clinics typically lump charges together and do not …
A health savings account (HSA) is used to assist the account holder in saving money to be spent on eligible medical expenses. To be eligible for an HSA, an employee must be enrolled in a high-deductible health plan (HDHP) with a minimum deductible amount of $1,400 for an individual and …
