Parametric insurance sounds a lot like betting on horses. In betting on horse races, there is a set threshold - the finish line - that must be crossed to trigger a payout. In parametric insurance, there is a threshold that set parameters must cross to trigger payout.
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.
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.
As spring ushers in warmer weather, it also brings the potential for severe weather events that can impact school communities. Understanding and preparing for floods, hailstorms, and tornadoes are crucial responsibilities for school administrators. Let's explore practical tips to safeguard your school community from these hazards.
Housekeeping in the workplace? Yes, but it is much more than just sweeping up or taking out the trash at the end of the day. Housekeeping includes a variety of duties that contribute to keeping our workspace clean and safe.
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.
Historically, the construction industry has largely been a male-dominated field. In fact, according to the U.S. Bureau of Labor Statistics, women currently account for just 10.3% of those employed within the sector—a statistic that has been relatively steady for much of the past two decades.
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.
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.
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.
