The California Department of Industrial Relations has announced that the state hourly minimum wage will increase to $15.50 an hour on Jan. 1, 2023. The new rate will apply to all employers, regardless of how many individuals they employ. California’s Minimum Wage Rate In 2016, California decided to increase the state’s hourly minimum wage rate […]
Employers that sponsor group health plans have some different options available to them for designing their plans’ enrollment process. When it comes to enrollment, health plan sponsors should have rules in place regarding: When employees can enroll in the health plan; When employees’ elections for group health plan coverage take effect; and What method is […]
Trending Employee Benefits That Strengthen Attraction And Retention Efforts In the wake of the Great Reshuffle—the mass movement of workers to jobs that prioritize their needs—and macro trends like the tight labor market, attraction and retention are top of mind for employers. In fact, according to Zywave’s 2022 Attraction and Retention Benchmarking Overview, over 75% […]
The job market is still dealing with the aftereffects of the COVID-19 pandemic. Workers are taking stock of their circumstances and considering which employment perks matter the most. Specifically, employees are increasingly more concerned about their physical and mental health, financial security and work-life balance than before the pandemic. Many employers have responded by enhancing […]
Effective for plan years beginning on or after Jan. 1, 2023, group health plans and health insurance issuers must make an internet-based price comparison tool available to participants, beneficiaries and enrollees. This requirement comes from final rules regarding transparency in coverage (TiC Final Rules) that were issued by the Departments of Labor, Health and Human […]
Employers are seeing an increase in lawsuits from former employees alleging deficient Consolidated Omnibus Budget Reconciliation Act (COBRA) election notices, with statutory penalties of up $110 per person per day. These lawsuits are generally class actions and can result in significant attorneys’ fee awards for successful ex-employees. The fact employers are struggling to comply with […]
To address the infant formula shortage amid medical device and health care company Abbott Nutrition’s voluntary recall of certain powdered infant formulas, the Biden administration is working to ensure that formula is safe and available for families across the country. President Biden spoke with several retailers and manufacturers—including Walmart, Target, Reckitt and Gerber—to discuss ways […]
An organization that is dedicated to preserving employee mental health and fostering a stigma-free environment is one that will succeed in its efforts to support employee mental health. Make sure that any mental health initiatives are aligned with core values, goals and ethics. An organization that focuses its mental health initiatives and efforts on normalizing […]
The Consolidated Omnibus Budget Reconciliation Act (COBRA) allows individuals to continue their group health plan coverage in certain situations. Specifically, COBRA requires group health plans to offer continuation coverage to covered employees and dependents when coverage would otherwise be lost due to certain specific events. These events include the death of a covered employee, termination […]
Different employees have different needs and values. Therefore, the same benefits offerings can’t satisfy everyone. If your organization is trying to appeal to current and prospective workers, consider tailoring your benefits options. Below are potential options for expanding the existing benefits plan or adding more voluntary perks. Tips for Personalizing Benefits Survey employees. One of […]
