Employee Benefits Report – July 2020
How to Keep Employees from Raiding Retirement Funds
The COVID-19 pandemic has wreaked havoc upon the finances of many employees, and some have been forced to use funds from their retirement plans.
Read on for details.
3 Challenges for Benefit Managers During the Pandemic
Providing benefit portability, helping employees manage their work/life balance and maintain financial stability can help employees during this difficult time.
Read on for details.
Mustering Employer Resources to Combat Mental Health Issues
Unfortunately, as a consequence of the work-from-home, shelter-in-place and quarantine initiatives put in place to keep us safe from COVID-19, there has been a rise in emotional distress.
Read on for details.
What to Consider Before Employees Fly the Friendly Skies Again
Now that restrictions due to the COVID-19 pandemic are being lifted, some businesses are allowing employees to travel for work again.
Read on for details.
Employee Benefits Report – June 2020
Retirement Plans: Cash Flow Problem Solver
Cash flow is a big concern for both employers and employees, and the $2 trillion coronavirus economic relief bill and existing regulations provides an unlikely beneficiary — retirement plans.
Read on for details.
Benefits and Challenges of Telehealth Begin to Emerge
Telehealth’s convenience and value were highlighted when fears about the coronavirus pandemic prompted individuals to look for a way to get medical advice without having to go to a doctor’s office.
Read on for details.
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States Taking Action to Control Rising Drug Costs
States are taking action to keep prescription drug costs from rising uncontrolled.
Read on for details.
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What Employees Need to Know About COVID-19 and Life Insurance Benefits
With COVID-19 still in the forefront of everyone’s mind, your employees may be wondering if the life insurance they purchased or that you provided will pay their beneficiaries if they die from the disease. Read on for details.
Employee Benefits Report – May 2020
What We’ve Learned About Keeping Essential Businesses Operating During a Pandemic
Coronavirus COVID-19 has scared everyone and changed the way businesses operate — including sick leave policies.
Read on for details.
Going Beyond Term Insurance Minimums
How to improve life insurance benefits for employees. Read on for details.
Roth 401(k) — The Overlooked Retirement Investment Tool
Only 11 percent of employers take advantage of Roth 401(k) options. Why this is a missed opportunity for employees to maximize their retirement income.
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Mental Health Tips for the Month of May
May is Mental Health Awareness Month and, especially in these times of self-isolation, it’s a good time to remind your employees of the importance of taking care of their mental health.
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Employee Benefits Report – April 2020
SECURE Act’s Effect on Retirement Plans
Here’s a review of the changes that affect small employers and some large ones.
Read on for details.
ERISA Compliance for Small and Large Employers
Despite its name, Employee Retirement Income Securities Act (ERISA) regulations apply not only to retirement plans, but to all “welfare” plans, including health benefits.
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How to Conduct a COBRA Self Audit
To help avoid an audit, or to be prepared in case an audit is ordered, it’s best to conduct a self audit.
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Giving Benefits the Respect They Deserve (and the Law Requires)
If you offer your employees health benefit coverage, your substance abuse and mental health benefits should be comparable to the other medical benefits in your plan.
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Employee Benefits Report – March 2020
States Actively Working to Reform Health Care
Health care reform continues to be a hot topic during the 2020 presidential election.
Read on for details.
Background Checks: The Fine Line of Staying in Compliance
Background checks allow employers to get a clearer picture of an applicant’s job and personal history. So, what happens if you find out that the applicant has a criminal background or has been convicted of drug use? Read on for details.
How to Stay in Compliance When Employees Work Remotely
As telecommuting continues to gain popularity with it comes a new set of compliance challenges for businesses.
Read on for details.
The Role of Pharmacy Benefit Managers
Does your health benefit plan have a pharmacy benefit manager (PBM)? If so, it’s important you understand how a PBM affects your and your employees’ access to prescription drugs, as well as controlling your out-of-pocket costs. Read on for details.
Employee Benefits Report – February 2020
Basic Steps to Avoid Discrimination in the Workplace
Workplace discrimination takes many forms, but sound policies and procedures can reduce the occurrences.
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Key Elements of a Good Health Benefit Plan for Small Companies
The cost of providing health insurance for employees and their families is expected to be five percent higher this year than in 2019.
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Ways to Make Saving Easier for Your Employees
Employees know they should save for retirement, but it’s not always easy. Many worry they don’t have enough money to put into retirement savings because they’re having difficulties paying bills.
Read on for details.
Employees Need to Know About 401(k) Required Minimum Distributions
Effective January 1, 2020, your employees must withdraw at least the minimum amount from their employer-sponsored 401(k) and IRAs (Individual Retirement Accounts) by age 72. Read on for details.
Employee Benefits Report – January 2020
Value-Based Care Gains Favor as a Provider Reimbursement System
Health care experts believe value-based care could lower costs and improve patient outcomes.
Read on for details.
Rules and Exceptions When Providing Benefits to Same Sex Couples
Employers who offer benefits to spouses must also offer them to same-sex couples though there are exceptions. Read on for details.
IRS Sets 2020 Retirement Plan Contribution and Benefit Limits
Nearly all of the dollar limits currently in effect for 2019 will experience minor increases for 2020. Read on for details.
Dental Insurance Promotes Overall Health
Providing employees the opportunity to purchase dental insurance is not enough. Employee education is an important element when you offer voluntary benefits. Read on for details.
Employee Benefits Report – December 2019
President Trump Issues New Health Coverage Responsibilities for Employers of Immigrants
New and proposed immigration requirements for documented and undocumented immigrants could impact employers who offer health care coverage.
Read on for details.
How Employers Can Avoid FMLA Pitfalls
The FMLA has been law since 1993 but employers can still find the rules confusing. Read on for details.
When is Indemnity Health Insurance an Acceptable Alternative to a Fully-Insured Plan?
Here’s a look at the advantages and disadvantages.
Read on for details.
Are Your Workplace Policies Up to Date about Vaping?
The popularity of vaping is sending some employers scrambling to craft workplace policies governing the use of electronic cigarettes. Read on for details.
Employee Benefits Report – November 2019
Will College Savings Plans be Necessary if College is Free?
Free college tuition is an appealing idea as higher education costs continue to rise. Can the proposals of presidential candidates be counted on?
Read on for details.
What a State-Run Retirement Plan Would Mean to Your Company
There are many ways to save for retirement but most Americans aren’t doing it. Many states are considering legislation that could make retirement savings easier. Read on for details.
What’s Behind the 2020 Health Insurance Premium Hikes?
Founding Father Benjamin Franklin famously said, “… in this world nothing can be said to be certain, except death and taxes.” If he were alive today, he certainly would have added “and annual health insurance premium increases.”
Read on for details.
On the Road Again — But With Insurance
One way to ensure their lives are easier is by providing business travel insurance. While travel insurance policies vary, they usually include: Read on for details.
Employee Benefits Report – October 2019
Health Savings Accounts — One Key to a More Comfortable Retirement
Here’s what your employees need to know about health savings accounts
Read on for details.
Genetic Testing Protections and Limitations
When the federal government passed the Genetic Information Nondiscrimination Act (GINA) in 2008, the law provided a starting point and baseline to prevent insurance carriers from using genetic testing information to determine rates. Read on for details.
When Life Insurance Isn’t Enough
Disability, not death, is much more likely to cause a person to lose their home.
Read on for details.
Access to Preventive Care Eased for Some HDHPs
The Internal Revenue Service (IRS) has made it easier for people who have high-deductible health plans (HDHPs) with health savings accounts (HSAs) to get preventive care services to treat chronic diseases even if the insured hasn’t yet met the deductible. Read on for details.
Employee Benefits Report – September 2019
Technology’s Growing Importance in Providing Quality Health Care
Whenever you sign up for a new group health care benefit plan for your company or receive communications from your insurance carrier about new benefits, there’s a good chance the insurer is using technology to provide you with better service.
Read on for details.
New Rule Offers New HRA Options
Business owners now have a way to help their employees get individual health care coverage. Read on for details.
Legal Plan Representation: Peace of Mind at an Affordable Cost
Your employees face legal issues far more often than you might think, and a group legal plan could relieve employees’ financial and legal concerns while increasing loyalty to your company.
Read on for details.
The Confusing World of Cannabis Regulation and Insurance
Although 33 states and the District of Columbia passed laws legalizing marijuana in some form, don’t assume your group health insurance covers the use of medical marijuana (cannabis) or CBD oil. Read on for details.
Employee Benefits Report – August 2019
Anti-discrimination Laws and The Effect on Employee Benefit Packages
A balanced benefits package can attract and keep valued employees, but the cost of offering benefits can skyrocket if not monitored.
Read on for details.
Tackling Obesity in the Workplace
Employers can help control their health care coverage costs and improve employees’ care by addressing a key lifestyle risk — obesity.
Read on for details.
529 Savings Plans: An Easy Way to Help Bring College Within Reach
Many parents start saving for college as soon as their children are born. It’s little wonder. Tuition plus room and board costs put college out of reach for many high school graduates.
Read on for details.
A Retirement Plan for Hard-to-Replace Employees
It’s often difficult for highly compensated executives to save enough money in a traditional 401(k) plan to maintain their current living standards. Read on for details.