Open enrollment is an opportunity to showcase an organization’s benefits package and the value it provides to employees — with the hope of curbing rising turnover rates. Within the last year, employees’ priorities have changed. Consequently, employees may be seeking enhanced offerings to better protect their health and well-being, while …
Retirement planning is one evolving area where employees are seeking out solutions that assist them and their family members in building strong financial futures. According to the Employee Benefits Research Institute, over four out of five workers say their employer converting retirement savings into regular income would be helpful. Additionally, …
On April 28, 2021, President Biden announced the American Families Plan, a $1.8 trillion package that plans to invest in the lives of American children, families and the future of the nation’s economy. The proposed plan would: Provide direct support to children and families — to ensure that low- and …
Over the course of the year, we have seen increased demand for telemedicine from healthcare consumers. For several employees, the opportunity to engage in traditional healthcare, especially when frequently on the road, has dwindled due to the risk of infection, limited space, and reallocation of resources. Consequently, individuals across the …
Working parents have been dealt an extremely difficult hand when it comes to taking care of their children amidst the COVID-19 pandemic. Tasked with balancing work, home and childcare responsibilities, and maintaining their mental health, several parents are experiencing high levels of stress and anxiety. According to a study by …
As the pandemic continues and the flu season approaches, employees across the nation are concerned about what the future holds. Consequently, it is essential for individuals to use income wisely and understand what is available to them from a healthcare perspective. According to the Bureau of Labor Statistics, the average …
Due to COVID-19 and the current state of economic uncertainty, employers may be facing limited budgets. Seeking new ways to structure employee benefit plans could put your organization in a better financial position heading into the new year. To reduce healthcare spending, employers can consider several benefit design strategies opposed …
On July 8, 2020, the U.S. Supreme Court upheld two regulations expanding exemptions from the contraceptive coverage mandate under the Affordable Care Act (ACA). Under the regulations, plan sponsors that object to providing contraceptive coverage based on sincerely held religious beliefs or moral convictions will not be penalized for failing …
Benefit changes surrounding New Jersey Temporary Disability Insurance (TDI) and Family Leave Insurance (FLI), as well as California Paid Family Leave (PFL), will go into effect July 1, 2020. Outlined below are updates that may impact your employee population. New Jersey Benefit Changes The benefit level is increasing for both …
As the scope of the coronavirus pandemic continues to expand, Aetna continues to show its commitment to help support and protect its members. The carrier is mindful of the challenges their small business customers and employees have had to face, which has led to the initiative to again extend and …
To assist with the issues presented by the Novel Coronavirus outbreak, the Internal Revenue Service (IRS) released Notice 2020-29, which provides flexibility for mid-year election changes under a Section 125 cafeteria plan during 2020. This flexibility has been designed to encourage employers, who sponsor health flexible spending accounts (FSAs) and …
Over the last several months, the rise of COVID-19 has presented an excessive amount of challenges to individuals, businesses, institutions and across national and global healthcare systems. In efforts to restore imbalances in the healthcare industry, UnitedHealth Group, along with many other insurance carriers, have rose to the occasion. UnitedHealth …
Due to the COVID-19 outbreak, employees may be more likely to have unused funds in their health flexible spending accounts (FSAs) or dependent care assistance program (DCAP) accounts. Health FSAs and DCAPs are accounts individuals can make pre-tax contributions to, that are then used to pay for certain out-of-pocket …
Due to the COVID-19 pandemic, schools and day care facilities have been forced to close. With the lack of availability and, in some cases, need for childcare, employees are being encouraged to re-evaluate their Dependent Care Assistance Program (DCAP) contributions and consider alternate uses for these funds. Under ‘normal’ circumstances, …
Across the nation, we continue to witness the high demand and stress the COVID-19 pandemic is placing on our healthcare system. While challenges and uncertainty continue to present themselves, costs increase. The healthcare marketplace’s combined costs for testing, treating, and caring for patients is estimated to rise from $56 billion …
