A key provision in the SECURE 2.0 Act that took effect January 1 could be a game-changer for employers looking to assist workers with student debt while also bolstering retirement savings.
Six decades after the Equal Pay Act aimed to eliminate gender-based wage discrimination, women in America still earn just 82 cents for every dollar earned by men. For Black and Hispanic women, the gap is even wider at 70 cents and 65 cents, respectively.
Generation Z is primed to take over as the largest generational group in the workforce. This seismic shift means employers must get creative in how they attract and keep top talent across diverse ages and life stages. One area ripe for a refresh is employee benefits communication and personalization.
A recent report reveals that early cancer detection through screenings can improve survival rates and reduce healthcare costs for employers. However, many organizations struggle to get employees screened due to a lack of awareness, time constraints, and reliance on third parties for care. Proactive efforts by employers to promote screening compliance can lead to better outcomes.
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.
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.
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.
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.
