The Employee Retirement Income Security Act of 1974 (ERISA) is a federal law that sets minimum standards for employee benefit plans maintained by private-sector employers. Under ERISA, employer-sponsored welfare benefit plans, such as group health plans, must be described in…
In November 2023, Zywave conducted its 2023 Attraction and Retention Employee Pulse Survey to collect employers’ insights into attraction and retention challenges, workplace strategies and voluntary benefits utilization. More than 130 employers responded to the nationwide survey from various industries,…
In fast-paced and demanding work environments, the importance of mental health cannot be overstated. Employees who are mentally well are more productive, engaged and satisfied with their jobs. Mental health treatment, including therapy, medication and self-care, can help people who…
The Kaiser Family Foundation’s (KFF’s) 2023 Employer Health Benefits Survey revealed that workers and employers alike are paying more for job-based health insurance this year. In 2023, the average premiums for employer-sponsored health insurance were $8,435 for single coverage and…
To get ready for open enrollment, employers who sponsor group health plans should be aware of the legal changes affecting the design and administration of their health plans for plan years beginning on or after Jan. 1, 2024. These changes…
Currently, healthcare costs in the United States are high and rising, outpacing inflation and wage increases. While many employers had relatively lower claim costs during the COVID-19 pandemic, medical plan costs are approaching pre-pandemic levels as healthcare utilization rebounds. Other…
As talent shortages persist across industries, an increasing number of employers are grappling with the need to adapt to the “new normal” to address this challenge effectively. HR departments are encountering a significant shift in which they find themselves dealing…
Voluntary benefits are becoming increasingly important to employees as they focus on their physical, mental, social and financial health. As a result, many employers have expanded their voluntary benefits offerings to address employees’ needs and improve their attraction and retention…
In today’s competitive employment landscape, many organizations recognize that employees are their most valuable asset. To attract and retain top talent, employers must go beyond competitive salaries and create holistic and meaningful employee benefits packages that address diverse workforce needs.…
The following chart describes the differences between FFS, HMO, PPO, POS, and HDHPs.