To get ready for open enrollment, employers who sponsor group health plans should be aware of the legal changes affecting the design and administration of their health plans for plan years beginning on or after Jan. 1, 2024. These changes…
Currently, healthcare costs in the United States are high and rising, outpacing inflation and wage increases. While many employers had relatively lower claim costs during the COVID-19 pandemic, medical plan costs are approaching pre-pandemic levels as healthcare utilization rebounds. Other…
As talent shortages persist across industries, an increasing number of employers are grappling with the need to adapt to the “new normal” to address this challenge effectively. HR departments are encountering a significant shift in which they find themselves dealing…
Voluntary benefits are becoming increasingly important to employees as they focus on their physical, mental, social and financial health. As a result, many employers have expanded their voluntary benefits offerings to address employees’ needs and improve their attraction and retention…
In today’s competitive employment landscape, many organizations recognize that employees are their most valuable asset. To attract and retain top talent, employers must go beyond competitive salaries and create holistic and meaningful employee benefits packages that address diverse workforce needs.…
The following chart describes the differences between FFS, HMO, PPO, POS, and HDHPs.
Open enrollment is a period of time each year when employers permit new employees to enroll in a health plan and allow current employees to make changes to their existing medical coverage. During open enrollment, employees may decide to change…
On April 10, 2023, President Biden signed a resolution ending the COVID-19 national emergency that had been in place since 2020. The Biden administration had previously announced a May 11, 2023, end date to both the national emergency and the…
On March 17, 2023, the IRS released a set of frequently asked questions (FAQs) to address whether certain costs related to general health, nutrition and wellness are medical expenses that can be paid or reimbursed by a health savings account…
Alongside compensation, health care coverage is often seen as one of the most important benefits a job can offer. And the larger the variety of options available to employees, the more likely they are to find an option that best…