DCAP

12 Ways to Improve Open Enrollment

Open enrollment can be stressful for employees, HR professionals, and third-party benefit administrators. Vital information must be shared and digested, and timely financial decisions must be made so coverage can start on time. Your company workforce may range from experienced, veteran employees to new hires in their first job. It’s a tall task to pull off an open enrollment season that meets the needs of everyone involved (but you CAN do it!). Here are 12 ways

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Making the Most of Open Enrollment: Understanding Your Tax-Advantaged Account Options

Open enrollment represents a pivotal moment for both employees and employers each year. This is when individuals can make significant choices regarding their health insurance coverage. For many, it’s the sole chance to enroll in or adjust tax-advantaged benefits such as Healthcare Flexible Spending Accounts (FSAs), Health Savings Accounts (HSAs), Health Reimbursement Accounts (HRAs), and Dependent Care FSAs. Grasping the nuances of these accounts will help you make better decisions, enhance your savings, and fully

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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

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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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Women’s Heart Health

According to the Centers for Disease Control and Prevention, heart disease is the leading cause of death for American women – but despite the launch of numerous awareness initiatives, barely half understand the risks. Let’s look at what heart disease is and what we (especially women) can do about it. Heart Disease Basics “Heart disease” includes a variety of conditions that affect the heart structure and how it functions. Coronary artery disease, the most common, occurs

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Rebrand Benefits for Increased Utilization

Employers battle high healthcare costs by finding ways to reduce expenses and by achieving significant returns on the investments they ultimately make. With benefits being such an important factor in employee retention, return on investment is often the most critical. One method of increasing utilization and realizing a greater return on the employer investment in certain types of benefits is to rebrand them. Rebranding Targets Four commonly underutilized benefits that can be boosted by rebranding

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2024 Trends in Healthcare and Benefits

2024 is underway, and high costs, persistent inflation, and an election year have some people feeling uneasy about health and wellness this year. What 2024 healthcare and benefits trends should TPAs watch, and how can they help employers meet changing needs and demands? 2024 Healthcare Trends Business Group on Health’s 2024 Large Employer Health Care Strategy Survey shares six healthcare topics trending for 2024: 2024 Benefits Trends Now, let’s look at the benefits that are trending for

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What is a Dependent Care Assistance Plan (DCAP)?

Working parents know that childcare is expensive. Whether the kids are in daycare, before or after school care, day camps, or other care, it can put a big dent in your wallet. Care.com released its 10th Annual Cost of Care Report. They found that, on average, in 2023, parents spent a whopping 27% of their household income on childcare. While employer-sponsored healthcare benefits like a Flexible Spending Account (FSA) or Health Savings Account (HSA) are helpful, more is

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The Value of a Consumer Directed Healthcare Account

View the infographic below to discover the value of consumer-directed healthcare accounts. The graphic features an overview of HSAs, HRAs, and FSAs, along with other helpful information. What is a Consumer Directed Healthcare Account? A consumer-directed healthcare account is a type of medical savings account that: CDH Account Types 1. Health Savings Account (HSA) The participant owns the HSA, which acts like a regular bank account. Money deposited into the account pays for eligible healthcare

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