Employee Benefits

  • Benefits Breakdown October 2024

    Benefits Breakdown October 2024

    Employers Project 8% Increase in Health Care Costs in 2025 A recent survey of employers by the International Foundation of Employee Benefit Plans (IFEBP) revealed that U.S. employers estimate a median 8% increase in health care costs for 2025. Catastrophic health claims and rising specialty prescription drug prices are driving the projected increase. According to…

  • Empowering Gen Z: Building a Competitive Benefits Package

    Empowering Gen Z: Building a Competitive Benefits Package

    Get ready for a new wave of talent! Gen Z (born between 1997 and 2012), or Zoomers, is the youngest generation entering the workforce, and they’re bringing fresh perspectives and priorities. Unlike previous generations, Gen Z isn’t just punching a clock. They crave opportunities for personal and professional growth, a workplace that prioritizes mental well-being,…

  • Open Enrollment: Your Annual Check-Up for Benefits

    Open Enrollment: Your Annual Check-Up for Benefits

    Navigating health insurance can feel like planning a vacation. You wouldn’t pack for a beach trip if you’re headed to the mountains, right? Similarly, choosing a health plan requires careful consideration. Open enrollment is your chance to design a plan tailored to you; it is your yearly opportunity to review and adjust your employee benefits…

  • Benefits Breakdown September 2025

    Benefits Breakdown September 2025

    Early Preparation Is Crucial for 2025 Open Enrollment With the 2025 open enrollment season around the corner, employers have an opportunity to develop attractive benefits offerings and proactively communicate with employees to win them over. Early preparation can help show employees they are valued, convince top performers seeking job changes to stay in their current…

  • Empowering Millennials: Building a Competitive Benefits Package

    Empowering Millennials: Building a Competitive Benefits Package

    Today’s workforce is a mix of generations, but you can’t afford to overlook Millennials, the largest generation in the workforce. Known for their flexibility and problem-solving skills, Millennials bring a powerful combination of experience and value to any company. Millennials, also known as Generation Y, are a driving force in today’s job market. This generation…

  • Navigating the Alphabet Soup: HRAs, HSAs, and FSAs Explained

    Navigating the Alphabet Soup: HRAs, HSAs, and FSAs Explained

    Managing healthcare costs can feel like deciphering a complex code. Three acronyms frequently pop up: HSAs, HRAs, and FSAs. But what exactly do they mean, and which one is right for you? Let’s break down these accounts and explore how they can help you save on qualified medical expenses. Understanding the Accounts: Health Savings Accounts…

  • Empowering Gen X: Building a Competitive Benefits Package

    Empowering Gen X: Building a Competitive Benefits Package

    Today’s workforce is a mix of generations, and Gen X is a group you can’t afford to overlook. Known for their flexibility and problem-solving skills, Gen X employees bring a powerful combination of experience and value to any company. Gen X, those born between 1965 and 1980, makes up a significant chunk (27%) of today’s…

  • HSAs Made Easy: Learn the Essentials & Protect Your Savings from Mistakes

    HSAs Made Easy: Learn the Essentials & Protect Your Savings from Mistakes

    Health savings accounts (HSAs) have become a vital part of many employers’ benefits packages, offering employees a powerful tool to manage healthcare expenses while benefiting from tax advantages. However, managing HSAs goes beyond just facilitating contributions. It also involves understanding and addressing mistakes with distributions that employees might encounter. This article delves into the basics…

  • Form 5500: What You Need To Know

    Form 5500: What You Need To Know

    Attention Employers: Don’t Miss Your Form 5500 Deadline! Here’s a simplified breakdown of what you need to know about filing your employee benefit plan report: Who Needs to File? Employers subject to ERISA (Employee Retirement Income Security Act) with employee benefit plans, unless exempt. What to File? Form 5500 (annual report) for each employee benefit…

  • Empowering Baby Boomers: Building a Competitive Benefits Package

    Empowering Baby Boomers: Building a Competitive Benefits Package

    A Baby Boomer is someone born between 1946 and 1964. This generation is currently between 58 and 78 years old (in 2024).  They tend to have a strong, loyal work ethic and excel at face-to-face communication and building relationships with colleagues.  Boomers have a wealth of experience accumulated over long careers. They value jobs that…