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2024 Benefits Trends: What Employers Need to Know

By |2024-03-07T17:48:47+00:00March 7th, 2024|Blog, Employee Benefits, Trending|

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.

SECURE 2.0 Means Major Retirement Changes in 2024

By |2024-03-07T18:08:47+00:00March 3rd, 2024|Blog, Employee Benefits, Trending|

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.

Stricter New Rules Limit Independent Contractor Hiring

By |2024-03-07T18:19:51+00:00March 2nd, 2024|Blog, Employee Benefits, Trending|

A new independent contractor rule from the U.S. Department of Labor (DOL) could spark an increase in misclassification lawsuits and make businesses less likely to hire gig workers, experts say.

15 Low- and No-cost Employee Benefits to Offer

By |2024-03-01T20:49:30+00:00February 28th, 2024|Blog, Employee Benefits, Trending|

Employee benefits are the cornerstone of a thriving organization. Perks and benefits are pivotal in enhancing job satisfaction,attraction and retention rates, employee well-being and overall workplace morale. While some organizations may feel constrained by budget limitations, there are numerous low- and no-cost benefits that can significantly impact employee happiness and productivity.

What the Transformation of PBMs Could Mean for Employers

By |2024-03-01T20:54:00+00:00February 26th, 2024|Blog, Employee Benefits, Trending|

When nonprofit health insurer Blue Shield of California announced significant changes to how it conducts pharmacy benefit management (PBM) for its 4.8 million members, the health insurance industry took notice. What does this mean for employers sponsoring health plans? There are a few key points they shouldn't miss.

Six Healthcare Trends Employers Can’t Afford to Ignore in 2024

By |2024-03-01T15:10:16+00:00February 20th, 2024|Blog, Employee Benefits, Trending|

Employers are facing immense healthcare cost pressures going into 2024. According to industry experts, medical benefit expenses are predicted to rise 5.4% next year — outpacing the 3-4% average annual increases seen over the past decade. This spike ties back to factors like lingering inflation, more expensive treatments, and pandemic care deficits coming due.

The Shocking High Cost of Covering Obesity Drugs

By |2024-03-01T15:10:40+00:00February 19th, 2024|Blog, Employee Benefits, Trending|

A new survey reveals that the costs of covering increasingly popular obesity drugs like Ozempic and Wegovy are quickly mounting for employers. But with demand from employees high and potential health benefits significant, more companies are considering taking on the pricey medications.

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IRS Raises 2024 Health FSA Cap

By |2024-01-08T18:23:22+00:00January 7th, 2024|Blog, Employee Benefits, Trending|

Unsurprisingly, the IRS has announced an increase in the health flexible spending account (FSA) contribution limit for 2024 to $3,200, according to experts. This $150 boost provides employee the opportunity to set aside more tax-free money to pay for qualifying medical expenses.

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Sick Days Have Doubled, but Morale Is Up

By |2024-01-08T18:32:22+00:00January 6th, 2024|Blog, Employee Benefits, Trending|

In the last few years, employers across the nation have seen a dramatic shift in how their workers approach sick leave. Employees today are taking nearly twice as many sick days compared to pre-pandemic times. But contrary to what some may expect, this surge in time off has not negatively impacted productivity or morale. In fact, the opposite may be true.

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New Solutions for Employee Mental Health

By |2024-01-08T18:39:46+00:00January 5th, 2024|Blog, Employee Benefits, Trending|

More than one in five U.S. adults suffer from mental illness each year, according to the National Alliance on Mental Illness. An estimated four percent have attention deficit hyperactivity disorder. While sometimes obvious, mental health issues often go unseen in the workplace, taking a silent toll on employees' well-being and job performance when unaddressed. However, new solutions allow employers to support what they can't see.

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