In the quest to attract and recruit exceptional talent, organizations often face the dilemma of whether to offer higher salaries or invest in comprehensive employee benefits. While a competitive salary is undoubtedly important, offering a robust benefits package can be a game-changer. In this blog post, we will explore why offering benefits holds more significance […]
Once new grads take off their cap and gown, they’re often faced with a swift reality check in the form of entering the workforce. For the class of 2023, who were freshman when the COVID pandemic started, the transition into a changing work world may be especially jarring: 43% of graduates say their new jobs will […]
In today’s competitive job market, attracting and retaining top talent has become a critical concern for businesses. While a competitive salary is essential, employee benefits have emerged as a key factor in successful hiring and retention strategies. In this blog post, we will delve into the importance of offering benefits to employees, supported by compelling […]
Health insurance plans nationwide must continue to pay in full for all types of preventive care services, like certain cancer screenings and HIV prevention drugs, for the time being, due to an agreement reached by both sides in a lawsuit challenging the Affordable Care Act’s preventive services mandate. This new order leaves the mandate in place while the […]
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 […]
