Generally speaking, employers are looking to lower their rising health care costs and improve their employees’ overall health. When HR professionals look toward the future, they are evaluating strategies to help manage both short- and long-term costs.
Employers are facing pressure to keep health care costs low for themselves and their employees, particularly in today’s tight labor market. As employers try to attract and retain top talent, they’ve had to get creative, and this is reflected in the following employee benefits trends.
Unpredictable job and investment markets make it difficult to determine how much life insurance to buy. The standard formulas for buying coverage to match a specific percentage of income are often inadequate and fail to take individual circumstances into account.
Whether you’re reviewing the dental options for your employer-sponsored health plan or looking at the options available on the market, you may encounter the acronyms DMO and PPO (also known as a PDN), as well as indemnity plan, in your research.
Want to improve your retirement savings? Strive to participate in your company retirement plan - and stay in it. A study by the Employee Benefit Research Institute (EBRI) and the Investment Company Institute (ICI) found that workers who were consistent about participating in a single company's 401(k) plan were more successful at accumulating retirement assets than those who were inconsistent.
Health care can be confusing. Between copays, eligible expenses and dense coverage policies, sometimes it feels like you need a master’s degree just to understand your hospital bill. And with high deductible health plans gaining popularity each year, it’s critical that employees understand what their health decisions are costing them. This is where health advocacy services—sometimes called patient advocacy—can help.
Middle-class families - those with incomes of between roughly $50,000 and $100,000 per year - are becoming increasingly reliant on workplace benefits in case of a disability or critical illness.
Simple health insurance is insufficient to carry the load. The loss of a breadwinner's or caregiver's financial contribution through death or disability is often devastating.
New federal overtime regulations have been introduced for non-exempt workers after years of wrangling over the issue.
Under the new rule, employers will be required to pay overtime to certain salaried workers who make less than to $684 per week - or $35,568 per year - up from the current threshold of $455, or $23,660 in annual salary.
A record $10.3 billion in claims was paid last year by the nation's long-term care insurance companies, according to the American Association for Long-Term Care Insurance study. This figure represents the highest amount of such benefit payments to Americans for a one-year period ever, and they were paid to more than 300,000 individuals.
Many people think life insurance is only for the young. That life insurance is a tool best used by newlyweds with mortgages, parents of young children, and spouses who are both employed.
But what does that mean for seniors? Does that mean retirees do not need life insurance? The answer to that question depends on your family's needs as well as your financial picture upon retirement.
There are typically two approaches to securing health coverage for your staff - group health insurance or self-funding.
Self-funding, however, can be costly and risky for some employers and is usually only done by larger organizations with thousands of employees. However, there is a hybrid model that can help small and mid-sized employers provide their staff with affordable health coverage: partial self-insuring.