Life & Health Insurance Advisor – Summer 2023
Use the 4% Rule to Secure Your Financial Future
Visions of a fulfilling retirement often include travel, leisurely pursuits, and quality time with loved ones.Read on for details.
New DEA Rules Could Reduce Telehealth Access
During the COVID-19 pandemic, telehealth became more popular and accessible, providing a convenient way for patients to connect with their doctors.Read on for details.
Why You Should Buy Life and Disability Insurance Together
Life insurance and disability insurance each play an important role in ensuring the financial security of your family. There are advantages to purchasing both products together Read on for details.
Biden Administration and Congress Attempt to Secure Future of Medicare
As Medicare faces the risk of depleting its reserves by 2028, the Biden administration, Congress, and healthcare industry stakeholders are working to address healthcare affordability and Medicare Advantage payment issues. Read on for details.
Employee Benefits Report – April 2023
New Labor Policies to Be Aware of in 2023
2023 promises to bring sweeping changes for employers and the employee experience. A host of new labor laws, rules, and regulations are set to come into effect in the coming year, with a focus on wage equity, expanded healthcare benefits, and other initiatives. Read on for details.
Biden Administration’s ESG DOL Rule Under Fire from Multiple Fronts
The Department of Labor’s (DOL) new rule on “Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights,” which allows for consideration of environmental, social, and governance (ESG) factors when making investment decisions, has come under fire from multiple fronts. Read on for details.
How Employers Can Benefit from Accommodating Disabled Workers
President George H.W. Bush signed the Americans with Disabilities Act (ADA) into law on July 26, 1990. The ADA is a civil rights law that forbids individuals with disabilities from being discriminated against in all areas of public life, including employment, transportation, and public and private places open to the general public. Read on for details.
Telehealth Services, Mental Healthcare, and the Consolidation Appropriations Act of 2023
The Consolidated Appropriations Act of 2023 was signed into law on December 29, 2022, by President Biden. This $1.7 trillion omnibus spending bill is set to fund the US federal government for the 2023 fiscal year. It includes several provisions that will significantly impact telehealth and mental health care services in the coming year. Read on for details.
Employee Benefits Report – March 2023
New DOL Rule Would Have Retirement Plans Consider Environmental and Social Factors
On November 22, 2022, the U.S. Department of Labor (DOL) introduced new regulations that allow retirement plans to factor in environmental, social, and governance (ESG) considerations when choosing investments and exercising shareholder rights. This update to legislation previously established in 2020 gives 401(k) participants access to climate-friendly funds and other ESG-focused options. Read on for details.
How Employers Can Maintain Worker Well-Being with Leaner Budgets
As businesses across the country struggle to adjust their budgets during an uncertain economic climate, ensuring employee well-being has become increasingly difficult.
Read on for details.
Do Rewards Programs Really Help Employee Retention?
Many companies have implemented rewards programs to retain employees and keep them engaged, motivated, and committed. The idea is that employees will be more satisfied with their job if they are rewarded for their hard work and dedication.
Read on for details.
Proposed Changes to the VFCP Would Make Self-Correction Easier
The U.S. Department of Labor’s Employee Benefits Security Administration recently proposed an update to its Voluntary Fiduciary Correction Program that would allow employers and retirement plan officials to report self-correction of late deposits electronically. Read on for details.
Life & Health Insurance Advisor – Spring 2023
Benefits of Hospital Indemnity Insurance
Hospital indemnity insurance is gaining in popularity as a way to deal with increasingly higher out-of-pocket expenses.Read on for details.
Retirement Savings Ideas for Those Who Haven’t Saved Enough
If you aren’t on course to save $1 million by the time you retire, you’ll have to get creative. Read on for details.
Is Original Medicare Enough for You?
Which of the several types of Medicare arrangements is best for you? Read on for details.
How Life Insurance Companies Use Credit Based Insurance Scores
A good credit rating can open a lot of doors. Not only can it make it easier for you to borrow money at a reasonable interest rate, but it can positively affect your ability to rent or buy a home, apply for a credit card or even get a job. Read on for details.
Employee Benefits Report – January 2023
Annual Health FSA Contribution Limit to Increase in 2023
On October 18th, the IRS announced that the annual contribution limit in 2023 for health flexible spending accounts (health FSAs) will be increased to $3,050 — double the $100 increase from 2021 to 2022. Read on for details.
How to Encourage Employees to Use Mental Health Resources
Stressors in the workplace can have a profound impact on mental and physical health. The Deloitte Mental Health 2022 Report revealed that more than 80% of respondents experienced at least one adverse mental health symptom. Read on for details.
Employers Can Help Employees Overcome Burnout with Sabbaticals
Burnout is a real issue for many employees today. According to the 2022 Deloitte Mental Health Report, 55% of employees reported experiencing burnout, which is not good news for employers. In addition, Mercer’s 2022 Inside Employees’ Minds study revealed that burnout due to a demanding workload is one of the top factors for employees considering leaving their job. Read on for details.
Healthcare Costs to Rise in 2023: Cancer Top Driver
According to professional services firm Aon, the average cost of healthcare for their own employees will increase by 6.5% next year. This is a significant increase from the 3.7% uptick seen in 2022. This cost increases similar to other cost increases mentioned here and likely due to the increased willingness of Americans to go in-person for testing and treatment now that the pandemic has subsided. Read on for details.
Employee Benefits Report – December 2022
Access to Telemedicine Diminishes
Telemedicine saw a surge in popularity during the COVID-19 pandemic, as it allowed for social distancing and reduced the risk of infection spread. Read on for details.
Five Critical Issues for Employers Reporting for 2023 ACA Compliance
According to the Affordable Care Act (ACA), applicable large employers (ALEs) are obligated to offer full-time employees and dependents affordable minimum essential health coverage. They must also report to the IRS information about the health coverage plans they offer.
Read on for details.
Businesses Expand Employee Benefits Offerings to Attract and Retain Top Talent
In today’s competitive labor market, offering traditional benefits like healthcare is no longer enough to attract and retain top talent. Business leaders should consider expanding their definition of employee benefits to meet the unique needs of their workforce. By providing a diverse range of benefits, companies can boost morale, increase job satisfaction, and improve retention rates. Read on for details.
Online Tools Help Employees Make Better Benefits Choices, Boost Engagement
The traditional enrollment process for employee benefits, which often involved filling out paper forms and waiting for them to be processed, has shifted towards an online platform. Employers are now seeking ways to improve this experience by incorporating decision-support tools.Read on for details.
Life & Health Insurance Advisor – Winter 2022
Rising Demand for Life Insurance in a Post-Pandemic World
In the wake of the COVID-19 pandemic, demand for life insurance has surged. As people have been forced to confront their own mortality, their attitudes toward health and wealth have undergone a shift. Now, they are looking for life insurance to help them support their goals of living longer, healthier lives.Read on for details.
How to Afford Long-Term Care as Prices Rise
Long-term care costs are a significant financial burden for many families, and inflation has made it even more challenging to afford. With rising skilled nursing and senior housing costs, it is essential to know how to afford long-term care. There are options available to help offset the cost. Read on for details.
How to Protect Yourself from Medicare Scams
With health care costs rising, it’s no wonder that scams targeting Medicare enrollees are increasing, too. According to the National Heath Care Anti-Fraud Association, healthcare scams cost an estimated $68 billion annually. Seniors are often the most vulnerable to these schemes.Read on for details.
Majority of Hospitals Ignore Hospital Price Transparency Law
A new study published in the Journal of the American Medical Association suggests that most hospitals ignore the Hospital Price Transparency Law, which requires them to post both patient-accessible and machine-readable prices for common procedures.
Read on for details.
Employee Benefits Report – October 2022
Could Looming Recession Endanger Remote Work?
The ability to work from home has been a lifeline for many during the COVID-19 pandemic, but some feel that a recession could jeopardize that perk.
Read on for details.
Employers Look to Improve Health and Benefits Offerings Ahead of 2023 Open Enrollment
Despite the more challenging economic environment, employee turnover rates have not improved significantly. According to the US Bureau of Labor Statistics, 4.2 million people quit their jobs in June 2022, showing little change. Read on for details.
Fertility Treatments Could Be Affected by State Abortion Bans
In states where abortion has been banned, fertility treatments could also be affected, even if unintentionally. If the wording of the abortion bans is not careful, it could make some fertility treatments illegal and make it more difficult for people to access them. Read on for details.
Virtual Physical Therapy: The Rise of Telerehabilitation
Healthcare experts predict that virtual physical therapy of musculoskeletal conditions will become increasingly popular and will likely comprise a significant portion of telehealth services delivered in the future. Read on for details.
Employee Benefits Report – September 2022
Employers Should Beware of Compliance Issues with Abortion Benefits
The recent Supreme Court ruling on abortion has left many employers scrambling to understand the impact it will have on their ability to provide health coverage for their employees. Read on for details.
Removing the Stigma Surrounding Debt Benefits
Debt is often a taboo topic, but it’s essential to talk about it openly.
Read on for details.
Can Menopause Benefits Create a Happier, More Productive Workforce?
For many years, women in the workforce have ignored what makes them different from their male counterparts to prove they are just as capable. Read on for details.
Proposed Overtime Rule Scheduled for October
The US Department of Labor (DOL) is now expected to release its proposed overtime rule in October, according to the spring regulatory agenda released on June 21st. Read on for details.
Life & Health Insurance Advisor – Fall 2022
Retirees Should Check Their Medicare Coverage Before Traveling
If you have Medicare and plan to travel, it’s essential to check your coverage for potential gaps that could lead to expensive bills.Read on for details.
What You Need to Know About Mental Health Care Insurance
Treatment for mental illness, which affects millions of Americans every year, can be costly, but many people don’t realize they qualify for mental health care insurance. Read on for details.
How to Save on Health Insurance
If you’re one of the millions of Americans struggling to pay for the rising cost of health insurance, here are some money saving tips. Read on for details.
A Quick Look at Child-Only Health Insurance
Affordable health insurance for your children is a top priority. Child-only health insurance policies can be a good fit for your kids but finding the right policy for your family can be tricky. Read on for details.
Employee Benefits Report – July 2022
IRS Increases 2023 HSA and HDHP Contributions
In late April, the IRS announced a significant increase in health savings account (HSA) and high-deductible plan (HDHP) contribution limits prompted by rising inflation. Read on for details.
Making Changes to Caregiving Benefits in the Era of Hybrid Work
The COVID-19 pandemic has forced many workers to adapt their schedules and work styles to accommodate new childcare and eldercare responsibilities. Read on for details.
Best Practices for Substance-Misuse Benefits
The COVID-19 pandemic has had far-reaching effects on the nation’s mental health.
Read on for details.
Employers Concerned Over Hybrid Work
The shift to a hybrid work model has created new challenges for employers, who must now accommodate remote and on-site employees.
Read on for details.
Employee Benefits Report – June 2022
House Passes SECURE Act 2.0
There will be fundamental changes to retirement legislation if the Senate passes the SECURE Act 2.0, which the House of Representatives overwhelmingly passed by a vote of 414 to 5 in March. Read on for details.
Pros and Cons of the 4-Day Workweek
Many workers have cited the four-day workweek as a high-ly desirable employee benefit. A Qualtrics survey conducted in January found that 92% of people support the concept and believe it would improve their productivity and mental health. Read on for details.
The Growing Popularity of Earned Wage Access
As a result of a shortage of talent affecting many companies, managers are trying to find new ways to attract and retain employees. One approach seeing a lot of traction is Earned Wage Access (EWA). Read on for details.
Remote Working Still Among the Most Desirable Employee Benefits
Employers are finding it increasingly difficult to attract and retain talent due to several factors, including the Great Resignation and demographic issues. The career insights platform Lensa, though, has studied US search trends to figure out what employees want.
Read on for details.