Salary, health benefits, and retirement savings plans are still the most important parts of employees’ overall compensation. However, concerns about health care costs not covered by health insurance and anxiety over unexpected expenses have employees looking at the range of voluntary benefits that can provide them with added security to meet these financial uncertainties.
Voluntary benefits are a set of insurance products that can help fill in gaps in coverage. While it’s easy to overlook these gaps, doing so could result in financial hardship.
Health savings accounts (HSAs) are a growing trend in health care. An HSA is a tax-exempt savings account established for the purpose of paying for the qualified medical expenses of an individual and/or his or her spouse and tax dependents. HSAs are designed to provide eligible individuals with the following federal tax benefits:
In addition to tax benefits, individuals covered under an HSA are more likely to seek preventive care, choose generic drugs, not misuse the emergency room, and use online tools to research health care providers.
The year may be winding down, but experts are already making their predictions for the hottest employee benefits in 2018. In a recent Employee Benefits News article, industry leaders expect benefits in the category of financial well-being to be the highest in demand.
Holiday-related stress and depression can cause headaches, excessive alcohol consumption, overeating and insomnia.
To combat these side effects, it is best to identify the cause of your stress and then take steps to rectify them. Consider the following suggestions:
The United States is experiencing an ever-tightening labor market, where the number of jobs available exceeds the number of qualified candidates. One way employers can recruit and retain top talent is by offering voluntary benefits and educating employees on how to use the voluntary benefits they offer.
According to Gallup, nearly 50 percent of employees report they would leave their employer for a company that offered benefits beyond medical insurance. Offering these benefits isn’t all employers need to do, though. In order for employers and employees to get the most out of these benefits, employees must be made aware that they exist and be educated on how to use them.
Open enrollment is the perfect time to start talking to employees about the voluntary benefits that are offered at your organization.
The holidays are often a stressful time of year, and money problems are one of the leading causes of that stress.
If you haven’t budgeted ahead for the holiday gift season, don’t despair—with proper budgeting and a handful of smart shopping ideas, it is still possible to find the perfect gift for everyone on your list without breaking the bank!
Hospitals face unique challenges that contribute to the risk of injury and illness. From lifting and moving patients, needlesticks, slips, trips, and falls – when an employee gets hurt on the job, hospitals pay the price in many ways, including:
While simple in theory, life insurance benefits can quickly become complex when beneficiary designations are incomplete, inaccurate, or out of date. As an employee benefit, group life insurance is intended to help employees protect the financial futures of their family members or individuals or organizations they care about. Without careful beneficiary planning, intended recipients may face long delays in receiving benefits—or miss out completely.
Employees can name any person or entity (except their own employer) as a beneficiary, including family members, friends, trusts or charities. But without proper beneficiary designations, an employee’s death benefit can sometimes be left to chance. If there is no beneficiary on file, death benefits are typically paid according to the group policy provisions. In these cases, the beneficiaries may or may not be who the employee had in mind.
The fall and winter months signal the arrival of peak flu season. While the seasonal flu viruses can be detected throughout the year in the United States, the Centers for Disease Control and Prevention (CDC) reports that the majority of cases occur between December and February.
Each year, seasonal influenza has a marked impact on employers. Seasonal flu can cause increased absenteeism, decreased productivity and higher health care costs. As an employer, you are well-positioned to help keep your employees healthy and minimize the flu’s impact on your business. The CDC recommends the following strategies for employers to help fight the flu.
Halloween should be an exciting time of year for children and their parents. This season, make safety the top priority for your family.
Best Practices for Parents
The U.S. Centers for Disease Control and Prevention (CDC) has compiled a list of Halloween best practices.
Follow these tips to keep your family safe.