Blog

Employer-Sponsored Benefits Gain Importance in Employment Advertising

Attracting talent demands more than just a competitive salary. Today’s workforce highly values a strong employer-sponsored benefits package, and job seekers are increasingly evaluating employee benefits when considering potential employers. For employers, highlighting benefits in job ads has evolved from a best practice to an essential strategy. As the demand for transparency and comprehensive compensation packages grows, savvy employers increasingly leverage their benefit programs to strengthen their appeal to top talent. By the middle of

Home » News » Blog » Page 2

Engage Employees to Achieve Cost Savings and Better Health Outcomes

As employers plan their benefits programs for 2025, they face the daunting task of managing costs while ensuring high-quality healthcare options for their workforce. The annual premium average for employer-sponsored family coverage in 2023 was $23,968, with employees contributing an average of 27.4%, or $6,575, according to the KFF Employer Health Benefits Survey. However, access to healthcare is only the first step. Many employees struggle to navigate the complex healthcare system, often seeking medical services

Home » News » Blog » Page 2

Tailor Benefits to Strengthen Employee Retention

A recent study by Willis Towers Watson (WTW) indicates that 72% of U.S. employees now prefer to stay with their current employers, marking a shift in workforce dynamics. This trend presents an opportunity – especially for small- and medium-sized businesses – to gain a competitive edge by offering strategic, appealing benefits packages. The annual open enrollment period is pivotal for companies to reinforce employee loyalty. A well-structured benefits package that reflects employee priorities can significantly

Home » News » Blog » Page 2

Transforming Financial Services: The Power of BPO in Client Service, Compliance, and Agility

The financial services industry has undergone significant changes over the past decade, driven by technological advancements, regulatory reforms, and evolving customer expectations. Over time, Business Process Outsourcing (BPO) has emerged as a powerful tool for financial institutions to enhance client service, improve compliance, and achieve greater agility. The Role of BPO in Client Service Enhancement Today, clients demand seamless, personalized experiences, strict adherence to regulatory standards, and the ability to quickly adapt to changing market

Home » News » Blog » Page 2

The Rise of ICHRAs: A New Era in Health Benefit Solutions

With a growing emphasis on flexible, customized, and cost-efficient health benefit solutions, Individual Coverage Health Reimbursement Arrangements, commonly called ICHRAs, are gaining popularity. A new report by the HRA Council found that U.S. employers’ adoption of ICHRAs increased by 29% overall (and by a whopping 84% among ALEs alone) between 2023 and 2024. The Rise of ICHRAs ICHRAs debuted in 2020 as a significant departure from traditional group health plans. Instead of offering a uniform

Home » News » Blog » Page 2

The Pivotal Role of Health Savings Accounts in Financial Wellness Programs

As the labor market becomes increasingly competitive, employers are beginning to understand the need to implement employee financial wellness programs. Such programs enhance employee satisfaction, retention, and overall productivity.  According to a Bank of America study, 97% of employers feel responsible for employee financial wellness. Health Savings Accounts (HSAs) are pivotal in successful financial wellness programs. Workplace Financial Wellness Programs Employer-sponsored financial wellness programs give employees the authority to manage their fiscal responsibilities. These programs

Home » News » Blog » Page 2

Streamlining EFT Operations: The Importance of NACHA Nested TPS Rules

The world of electronic funds transfer (EFT) underwent a significant shift in September 2022 with the implementation of the NACHA Nested Third-Party Sender (TPS) rules. Those impacted include third-party benefits administrators (TPAs) who utilize an ACH provider to initiate payroll deductions or premium payments, thus acting as nested TPSs within the ACH network. Understanding the NACHA Nested TPS rules is crucial to ensure smooth operations and avoid potential penalties. What are the NACHA TPS rules?

Home » News » Blog » Page 2

BPM: Key to Organizational Success

Companies must focus on streamlining operations, cutting costs, and enhancing consumer satisfaction to succeed in the modern marketplace. One efficient method of doing that, which has become a mainstay of organizational success, is Business Process Management (BPM).  What is Business Process Management? BPM is a methodological way of improving a company’s processes. It covers the business process’s plan, implementation, control, and improvement to an agreed-on goal. BPM is more than robotizing tasks and cost-cutting; it

Home » News » Blog » Page 2

Designing Good Employee Benefits: 8 Questions You Should Ask

As we enter the last full month of summer, many employers are already working to develop their benefits programs for 2025. Creating a benefits plan that pleases everyone, especially in a diverse workforce, can seem impossible. To be successful, it is vital to identify which types of benefits various employee groups require. The secret to a successful scheme is asking the right questions that engage employees and meet their needs. What Are Targeted Questions? Employers

Home » News » Blog » Page 2

5 Ways to Control Rising Benefit Costs

Healthcare costs in America have risen significantly since the 1970s, leading many employers to expect modest yearly cost increases in the benefits they offer. However, current economic conditions, an aging population, and increased costs related to managing chronic conditions have led to less manageable increases for many employers. Here are five ways TPAs can help employers continue offering high-value benefits while working to control rising benefits costs. #1 Ask Participants What They Need Before considering

Home » News » Blog » Page 2
+ More