Critical illness insurance is known by many names: heart attack insurance, catastrophic illness insurance and sick insurance are just a few. No matter what it’s called, it’s designed to guard against the financial costs of a serious disease or condition. As the average life expectancy in the United States continues to increase, insurance brokers are […]
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The challenges that influenced the benefits landscape in 2023 persist—perhaps even more so. Rising costs, due to inflation and increasing health care prices, will continue to present challenges this new year. But employers who understand the benefits landscape for 2024 can mold their approach for the upcoming year. A new year means revisiting your existing […]
2024 Attraction and Retention Trends to Monitor This year, the labor market is expected to ease somewhat, although employers will likely still struggle to attract and retain talented employees. Here are four attraction and retention trends employers should watch in 2024 to prepare their strategies for the next year: Skills-based hiring—Many employers are refocusing their […]
We know that when you think of doing ministry, you’re probably not envisioning inspecting your roof, replacing filters, and making sure gutters are clear. But each of these tasks is part of keeping your building and grounds in order. A church that is taken care of can better serve its congregation the community. The last […]
4 Key Trends Driving Employer Health Care Costs in 2024 Amid ongoing inflation pressures, employees and employers alike can expect their health care costs to increase in 2024. Global professional services firm Aon reported that health care costs for employers will grow by 8.5% in 2024 (to more than $15,000 per employee), nearly double 2023’s […]
As we begin to settle into 2024, many of us are thinking about New Year’s resolutions. The start of a New Year signals a time for change, reflection and a sense of ‘starting afresh’. This year, you can seize the new year’s spirit of renewal and make mental health your top priority! A healthy mind […]
Mental health and wellness in HR is the practice of employers caring about the health and stress management of their workers by providing support and resources to prevent burnout. Human Resources professionals include mental health and wellness benefits, such as insurance coverage, employee assistance programs (EAPs), access to apps and counseling, and more. Beyond traditional benefits, […]
We know that when you think of doing ministry, you’re probably not envisioning inspecting your roof, replacing filters, and making sure gutters are clear. But each of these tasks is part of keeping your building and grounds in order. A church that is taken care of can better serve its congregation the community. The last […]
For most organizations, employee benefits communication kicks into high gear during open enrollment season. During this time, there is a surge in emails, educational webinars, fliers throughout the office, and a barrage of forms demanding signatures. Post open enrollment, however, employees often receive minimal information about their benefits. While sporadic email updates or new laminated […]
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Benefits Buzz December 2023
IRS Announces Employee Benefit Plan Limits for 2024 Many employee benefits are subject to annual dollar limits that are updated for inflation before the beginning of each calendar year. Most of these annual dollar limits will increase in 2024. Note that some benefit limits are not adjusted for inflation, such as the contribution limit for […]
