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This year, it’s essential for employers to focus on refining their benefits packages to meet the unique challenges faced by their workforce. Many employers have already recognized the importance of enhancing their strategies for retention and engagement, and this remains a critical priority. Developing comprehensive and responsive benefits plans is key to addressing the evolving …

Continue reading “Employee Benefits Trends for 2024”

Amid the challenges posed by the pandemic, inflation, economic downturn, and increasing debt, the financial well-being of employees appears to be facing considerable strain. Given these pressures, some individuals are taking a closer assessment of their expectations from employers. While higher compensation is desired, the emphasis is now shifting toward the degree of flexibility in …

Continue reading “Lifestyle Spending Accounts & Emergency Saving Accounts. Unveiling the Differences”

Encouraging employees to take time off from work can have a positive impact on both their physical health and mental health, while also being advantageous for the business. When employees return to work after taking a break, they are likely to feel more refreshed and motivated, leading to increased creativity and productivity. Furthermore, adopting such …

Continue reading “Unlimited PTO vs Floating Days: A Complete Guide”

In 2022, employers made changes to their health benefits in response to the COVID-19 pandemic. Two of the more common responses were to increase employer contributions to health insurance and add more telemedicine options to benefits packages. At the beginning of the year, the quality of an employer’s health plan was important to prospective and …

Continue reading “Employee Benefits Trends for 2023”

VITALLY IMPORTANT BENEFITS UPDATE

Think you’re too small to avoid an embarrassing & costly harassment claim? Small and Medium-Sized companies get caught every day. Check out these recent NYC case settlements!

Should Employers Implement the New Pre-Tax Reimbursement Rules? In response to COVID-19, significant pre-tax reimbursement rule changes have been implemented in the benefits landscape.  How should employers respond?

Benefit Enhancements OTC Pre-Tax Reimbursement Over-the-Counter Prescriptions (OTC) no longer need a physician’s prescription. This applies to Flexible Spending plans (FSA) or Health Saving Accounts (HSA). It can be retroactively applied on 1/1/2020. Adopting this will require adjustments to your Section 125 plan documents. If you are not familiar with a Section 125 document (they …

Continue reading “How Does the CARES Act Enhances My Benefits?”