Many U.S. consumers still are trying to regain their financial footing after the pandemic. More than half have taken steps to reduce health care costs over the last two years, including nearly one in five who have done so by not paying other bills, such as rent, car payment or utilities. Other steps taken to […]
The IRS has announced the 2024 employer mandate penalties under the Affordable Care Act for employers with 50 or more full-time equivalent employees. Under the ACA, employers may be subject to an employer mandate penalty for (1) failing to offer minimum essential coverage to 95% of full-time employees (A Penalty) or (2) offering coverage that is not affordable (B […]
Thanks to the ongoing high inflation, employees will be able to put more money into their health savings accounts next year. HSA contribution limits for 2024 will see one of the biggest jumps in recent years, the IRS announced. The annual limit on HSA contributions for self-only coverage will be $4,150, a 7.8% increase from […]
In addition to traditional core benefits like health insurance and retirement plans, voluntary benefits play a crucial role in meeting employees’ specific needs and enhancing their overall well-being. Voluntary benefits allow employees to customize their benefits package based on their individual circumstances, providing them with additional financial security, healthcare support, and peace of mind. In […]
In today’s competitive job market, attracting and retaining top talent has become increasingly challenging for businesses. Companies are constantly looking for effective strategies to differentiate themselves and create a compelling value proposition for prospective employees. One critical aspect that plays a significant role in attracting and retaining top talent is the employee benefits package. In […]
In the realm of employee benefits, there is a growing trend of employers moving away from traditional comprehensive medical plans and opting for Minimum Essential Coverage (MEC) plans. This shift is driven by several factors, including rising healthcare costs, regulatory requirements, and the need for greater flexibility. In this blog post, we will explore the […]
In today’s fast-paced and demanding work environment, prioritizing mental health has become more important than ever. As an employer, taking proactive steps to support your employees’ well-being not only enhances their overall satisfaction and productivity but also contributes to a positive and inclusive work culture. In this blog post, we will delve into the significance […]
Companies across the country are reeling in the wake of the COVID-19 outbreak — a tragedy that has claimed lives and turned life upside down. To mediate the financial loss and brace for further instability, many employers are looking to tighten their financial belts when it comes to benefits. Under normal circumstances, the familiarity of […]
Companies across the country are reeling in the wake of the COVID-19 outbreak — a tragedy that has claimed lives and turned life upside down. To mediate the financial loss and brace for further instability, many employers are looking to tighten their financial belts when it comes to benefits. Under normal circumstances, the familiarity of […]
Voya Financial’s employee benefits business has started a new leave management offering that aims to deliver employers a fully integrated service that makes the process of managing paid time off for their workforce easier, while also providing their employees with a high-touch, proactive service experience. “The leave landscape has always been relatively complex for our […]
