Debt is often a taboo topic, but it's essential to talk about it openly. According to a recent study by Nerdwallet, the average American family has more than $155,000 in debt. When expenses arise unexpectedly, as they do two or more times a year for one-third of Americans, this can cause families a lot of stress.
The ranking order of benefits has returned to its pre-pandemic status, with health care and retirement benefits in the top two spots again. Overall, employers now consider that offering benefits is more important than ever.
The recent Supreme Court ruling on abortion has left many employers scrambling to understand the impact it will have on their ability to provide health coverage for their employees.
With over 4 million more job openings than employees to fill them, the task of talent acquisition and retention has become a significant challenge for many companies.
In 2021, Congress passed the Consolidated Appropriations Act to put teeth into the Mental Health Parity and Addiction Equity Act (MHPAEA) of 2008.
MetLife’s 20th Annual Employee Benefit Trends Study shows job satisfaction has tumbled to a two-decade low. Zillennials – who represent the generation born between 1993 and 1998 – exhibit the lowest level of satisfaction.
According to a survey by professional services firm Aon, the number of employers offering voluntary benefits increased by 41% from 2021 to 2022.
Substance misuse among employees has increased, which has been made easier because addictions are easier to conceal in remote and hybrid work situations. The situation was already a serious problem, but human resource professionals have found that substance use, misuse and abuse have increased significantly since the pandemic. In 2014, according to a National Survey on Drug Use and Health, 55.1% of the US population with substance-use disorders held full-time jobs. Due to the pandemic, however, this figure has likely risen significantly.
The COVID-19 pandemic has forced many workers to adapt their schedules and work styles to accommodate new childcare and eldercare responsibilities. With offices reopening, many working caregivers are wondering how to best manage their time and commitments. While a hybrid work model — a combination of in-office and remote work — may offer the best of both worlds, employers need to consider the unique needs of caregivers when crafting their policies.
Employee benefits liability (EBL) is insurance that covers businesses from errors and omissions that occur when employee benefit plans are administered. These errors and omissions may include failing to enroll, maintain or terminate employees in a plan, and failing to correctly describe benefit plans and eligibility rules to employees. EBL insurance covers a wide range of plans, including health, dental and life insurance, profit-sharing plans, workers’ compensation and employee stock plans. EBL insurance is typically sold as a standalone policy.
