Workplace wellness is something that many companies try to achieve, but it can be difficult to start new health incentives if you don’t know what you’re doing. You need to make sure you have the right people for the task, give them access to information in order to make educated decisions, and implement programs that get your employees both excited and motivated about health.
Self-funded and level-funded health plans are two very popular options for businesses to pursue today. Each has a plethora of offerings that can draw companies in, and a few disadvantages that may discourage certain employer types.
But before you can know which health plan type is right for you, you need to know and understand the nuances between them. Learn which benefits are associated with each, so you can choose what your business needs most, and learn their disadvantages so you can safeguard against possible issues.
Unlimited PTO vacation plans are becoming more and more popular these days, but are they really the best option for your business? These plans can do wonders for boosting employee morale and attracting the best candidates for your business, but they can also hurt productivity levels and result in more employee burnout. Let’s take a closer look at PTO, its benefits, and the differences between limited and unlimited PTO vacation plans to get a better idea of what the best option would be for your business. Read more
Everyone loves employee benefits. In fact, most applicants will equally consider salary and benefits when considering employment with your company. Some will even choose to accept a lower salary than another position may offer if the benefits are better. These benefits can cover a range of advantages from better healthcare, provided meals or gym services, and paid vacation time.
But most benefitted jobs are full-time, so many part-time employees end up missing out. Fortunately, there are several benefits that are tailored to part-time positions. Here’s what you need to know about offering benefits to part-time employees. Read more
HSAs are incredibly valuable tools in insurance, but it’s important to be aware of contribution limits, which are updated every year. Sometimes, these updates change little, if anything, but for 2021, the IRS chose to increase HSA contribution limits, giving individuals the opportunity to add more money into their medical expense accounts. Here’s everything you need to know about 2021 HSA contribution limits.
Ancillary benefits are a vital form of coverage employers can offer their employees today. There are several different plan types that can supplement existing insurance policies so that your employees have all the coverage they need in times of crisis.
Existing ancillary plan types can include such benefits as disability insurance, accident insurance, life insurance, vision and dental insurance, pet insurance and much, much more. And as you can imagine, each of these ancillary benefits comes with amazing advantages. Read more
Employee benefits are an essential part of your business. Without them, you will have a hard time finding the best, most qualified employees for your business. But employee benefits can be tricky to navigate–especially if you’re not up-to-date with current employee benefits compliance guide.
To ensure you’re keeping up with all ACA compliance rules and avoid any possible penalties, you need to pay attention to the changes that are implemented and communicate them successfully to all your plan participants. Let’s take a look at some of the biggest ACA policy changes for 2021 to review what you need to know to have successful employee benefits compliance. Read more
Health Reimbursement Arrangements (HRAs), Health Savings Accounts (HSAs), and Flexible Spending Accounts (FSAs) are three different types of employer-sponsored benefit accounts that benefit employees in different ways. These accounts feature many similar benefits including healthcare assistance, tax advantages, and more, but their differences can be quite tricky to understand.
Because each of these accounts is designed to assist employees with the same kinds of issues, it’s no surprise that they have a lot of overlapping qualities. To better understand the unique advantages of each, let’s take a close look at the little areas where those differences lie.
There are many fantastic advantages when it comes to employee benefits– and not all of them are solely for employees. In fact, when you offer great benefits, your business will be able to stand out from competitors, attract and retain the right employees, and develop a sense of loyalty in your employees who see that your care about their futures.
Today, the options of benefit offerings are virtually limitless, so it can be hard to find the best employee benefit options for your business. To help ease that struggle, here are a few of the best employee benefits your small business should start offering today.
Open enrollment provides employees with a chance to review their healthcare benefits plan for the year. It can last anywhere from a few weeks to a few months, and it can take an overwhelming amount of work from businesses and carriers if they don’t engage in the right practices to prepare and see themselves through open enrollment. To help, here are some benefits enrollment best practices to keep in mind!
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