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Employee Benefits HR Zywave

Benefits Breakdown February 2024

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 […]

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Benefits Zywave

Benefits Breakdown January 2024

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 […]

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Zywave

Benefits Breakdown September 2023

2024 Open Enrollment: The Power of Early Preparation With the 2024 open enrollment season fast approaching, employers have an opportunity to develop attractive benefits offerings and proactively communicate with employees to win them over. Early preparation can help show employees they’re valued, convince top performers to stay in their current positions and attract new talent. […]

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Zywave

News Brief: Health Care Costs Projected to Grow 7% in 2024

Health care costs are expected to grow 7% in 2024 due to rising pharmaceutical expenses driven by specialty drugs and insurers increasing rates in response to inflation, according to an annual report from professional services firm PricewaterhouseCoopers (PwC). This trend is higher than 2022’s and 2023’s projected medical cost rates, which were 5.5% and 6%, […]

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Employee Benefits Zywave

Benefits Breakdown – August 2023

Strategies for Identifying and Resolving Gaps in Benefits Offerings Identifying gaps in benefits offerings can be complex, as it requires a careful assessment of employee preferences, trends and organizational resources. However, this task is vital; benefits offerings can lead to increased employee engagement and satisfaction. Consider the following strategies for identifying and addressing these gaps: […]

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Zywave

Benefits Breakdown – July 2023

Managing Costs Associated With Cell and Gene Therapy Cell and gene therapy (CGT) is a treatment that modifies a patient’s genetic code to treat or cure specific diseases. These treatments have the potential to enhance patient care and outcomes, but they come at a very high cost. While there’s an urgency to bring CGT to […]

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Zywave

Benefits Buzz June 2023

HSA/HDHP Limits Increase for 2024 On May 16, 2023, the IRS released Revenue Procedure 2023-23 to provide the inflation-adjusted limits for health savings accounts (HSAs) and high deductible health plans (HDHPs) for 2024. The IRS is required to publish these limits by June 1 of each year. These limits include: The maximum HSA contribution limit […]

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Zywave

Benefits Insights: Home and Auto Insurance

If your company offered home and auto insurance as a voluntary benefit, you could provide employees with discounted rates and the ease of payroll deduction to pay premiums. This benefit can be offered with little expense to you while providing great value for your employees. What Are Home and Auto Insurance Benefits? Home and auto […]

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Zywave

Benefits and Me – May 2023

Understanding Lifestyle Spending Accounts Chances are you’re paying more attention to your benefits and wondering how to get the best bang for your buck. You’re likely familiar with health savings and flexible spending accounts, but have you heard of lifestyle spending accounts (LSAs)? An LSA is an employer-funded account that can cover some health- and […]

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Volunteer Zywave

Nonprofit and Faith-based Risk Insights: Managing Volunteers in Your Organization

As a nonprofit organization, most of your workforce is probably comprised of volunteers. These individuals devote their time and energy to help the community through your organization. Though these individuals offer their services without expecting compensation, they still require supervision to ensure that their jobs are done correctly. Furthermore, it is important for your organization […]

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