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specialized and niche BPO

The Rise of “BPO 2.0”

Business process outsourcing (BPO) is undergoing a metamorphosis. At one time, outsourcing solutions were one-size-fits-all, with providers offering generic services to many clients. Today, we’re seeing the rise of what has been called “BPO 2.0”: a shift to specialization and niche outsourcing. BPO Evolves Reduced expenses and streamlined operations fueled BPO’s early days. Companies outsourced non-core functions to reduce labor costs and improve productivity. However, as the industry matured, clients began seeking more value from

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DataPath Receives New Honors for Marketing

DataPath, Inc. has recently received five prestigious awards, showcasing the company’s dedication to excellence in direct mail marketing and thought leadership communications. Two of DataPath’s direct mail campaigns have been acknowledged for their innovative approach and compelling messaging. The “Recipes for Success” campaign, which creatively combines unique brochure construction with targeted messaging, has been honored with a Platinum award in the Hermes Awards and a Gold award in the DANDA Awards. This campaign effectively showcases the

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Building Benefits Packages that Attract and Retain Baby Boomers

This article delves into effective benefits strategies for Baby Boomers, exploring their preferences and offering recommendations for engagement. Understanding Baby Boomers Baby Boomers were born between 1946 and 1964 and have played a significant role in shaping American society and the workforce. As the enrollment season approaches, it’s crucial to understand what motivates this generation, the benefits they value most, and their preferred methods of communication and learning. Baby Boomer Profile Boomers have unique characteristics

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Building Customer Loyalty and Retention with Financial Wellness

As trusted advisors, banks and credit unions are in a unique position to offer guidance. They can also support and educate consumers to help with their financial well-being. Customers who feel their financial institutions support their financial wellness are 3 times more likely to be “very satisfied.” They are also 3 times more likely to recommend their financial institution and 5 times more likely to want to buy more from it. Another survey, this one

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How COBRA Interacts with ICHRA and HRA Plans

The Consolidated Omnibus Budget Reconciliation Act (COBRA) mandates employers to offer continuing health coverage to employees facing qualifying events such as job loss or reduction in work hours. However, navigating the interaction between COBRA and some reimbursement accounts, such as Individual Coverage Health Reimbursement Arrangements (ICHRAs) and Health Reimbursement Arrangements (HRAs), presents complexities.  What are ICHRA and HRA plans? ICRHAs and HRAs are both exclusively funded by the employer and generally not taxable to the

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student loan

Student Loan Assistance and Financial Well-Being

Student loan debt continues to be a significant financial burden for millions of Americans. More than half of college students finance their education with loans, whether they attend public or private four-year institutions. As of 2023, according to Forbes, total student loan debt (including federal and private loans) stood at $1.75 trillion, or an average of $28,950 per borrower. With the moratorium on student loan payments ending in October 2023, millions of borrowers are now

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family

How A Mid-Year Coverage Change Affects HSA Contribution Limits

When HSA account holders undergo life events that alter their health insurance coverage – such as marriage, divorce, the death of a spouse, the birth of a child, or adoption – their annual HSA contribution limit may also be affected. Here’s what you need to know. The Full-Contribution Rule First, let’s discuss the Full-Contribution Rule, also called the “greater of” rule. Introduced by the IRS in 2008 (refer to IRS Notice 2008-52), this rule details

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Understanding COBRA Eligibility: Who Qualifies and When?

Understanding the intricacies of the Consolidated Omnibus Budget Reconciliation Act (COBRA) can be challenging for employers and employees alike. It may be especially daunting when trying to understand who qualifies for COBRA coverage and when they qualify.  What is COBRA? COBRA is a federal law enacted in 1985 that requires employers with 20 or more employees to offer continuation coverage. This applies only to employees and their dependents whose coverage would end due to qualifying

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HSA Contribution Limits Announced

The Internal Revenue Service (IRS) recently announced updated HSA annual contribution limits. An important part of consumer-directed healthcare, HSAs offer participants enrolled in HSA-qualified (HDHP) health plans a way to save on taxes while setting aside money for out-of-pocket healthcare expenses for themselves and their families.

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