Most organizations treat employee benefits like a seasonal event. Open enrollment brings a flurry of activity – emails, seminars, and even benefits fairs. However, communication often dwindles after this initial push, leaving employees confused and underutilizing their valuable benefits. This is a missed opportunity. Research shows that employees crave more benefits education, spending hours researching […]
Category: Employee Benefits
New to a Health Savings Account (HSA)? Here’s What You Need to Know As the name suggests, a Health Savings Account(HSA) is a special savings account used to pay for healthcare-related expenses. An HSA has potential financial benefits for now and later. Not only can you save pre-tax dollars in this account to pay for qualified […]
Employee benefits are the indirect and non-cash compensation paid to an employee. These benefits are given to employees over their salaries and wages. As we look ahead to 2025, companies are increasingly exploring innovative solutions to address the evolving needs of their workforce. Driven by shifts in work environments, economic challenges, and technological progress, the […]
Many employee benefits are subject to annual dollar limits that are adjusted for inflation. For 2025, most of these limits have increased. Key Benefit Limits for 2025: Health Savings Account (HSA) Contributions Single Coverage: $4,300 (up $150 from 2024) Family Coverage: $8,550 (up $250 from 2024) Catch-up Contributions: $1,000 HDHP Minimum Deductible Single Coverage: $1,650 […]
As the year comes to an end, a crucial compliance deadline looms for employers with health plans. Under the Consolidated Appropriations Act (CAA), health plans and insurance issuers must submit a Gag Clause Compliance Attestation by December 31, 2024. Since its enactment in 2020, this regulation prohibits health plans from including gag clauses—provisions that limit […]
Employee benefits can be a complex landscape, filled with acronyms and unfamiliar terms. In fact, more than 50% of American adults report that they don’t have a clear understanding of their health insurance. Many people are confused because they reach adulthood without ever learning the basics of health insurance terminology. Illiteracy about health insurance is […]
When it comes to health insurance, there is a lot of jargon and plenty of acronyms. Many people have heard of FSAs, but may not actually know — what is a flexible spending account, exactly? If you have an employer-sponsored health plan, a flexible spending account (FSA) is often available as part of the benefits […]
Employers Project 8% Increase in Health Care Costs in 2025 A recent survey of employers by the International Foundation of Employee Benefit Plans (IFEBP) revealed that U.S. employers estimate a median 8% increase in health care costs for 2025. Catastrophic health claims and rising specialty prescription drug prices are driving the projected increase. According to […]
Navigating health insurance can feel like planning a vacation. You wouldn’t pack for a beach trip if you’re headed to the mountains, right? Similarly, choosing a health plan requires careful consideration. Open enrollment is your chance to design a plan tailored to you; it is your yearly opportunity to review and adjust your employee benefits […]
Get ready for a new wave of talent! Gen Z (born between 1997 and 2012), or Zoomers, is the youngest generation entering the workforce, and they’re bringing fresh perspectives and priorities. Unlike previous generations, Gen Z isn’t just punching a clock. They crave opportunities for personal and professional growth, a workplace that prioritizes mental well-being, […]
