Family-Friendly Benefits and Creating a Supportive Workplace Culture

Family-friendly benefits have become essential to attracting and retaining top talent. Companies that provide robust support for working parents can enhance employee work-life balance, productivity, and job satisfaction. Family-friendly workplaces have higher retention rates and a better reputation overall among current and prospective employees.  Here are some of the most popular family-friendly benefits, including childcare assistance and parental leave, along with actionable strategies to cultivate a supportive work environment. The Importance of Childcare Assistance One

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Leveraging Tax-Advantaged Benefit Accounts in Recruitment

While competitive salaries and flexible work arrangements often grab headlines, tax-advantaged benefit accounts like health savings accounts (HSAs), flexible spending accounts (FSAs), and health reimbursement arrangements (HRAs) are powerful tools for recruiting and retaining top talent that are often overlooked. These accounts support employees’ financial wellness and help employers manage benefit costs effectively, creating a win-win scenario for both parties. Financial Wellness Benefits Grow in Importance Financial stress remains a significant burden for many employees.

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Eligible FSA/HSA Expenses You May Have Overlooked

For decades, participating in a Flexible Spending Account (FSA) or Health Savings Account (HSA) has been crucial to affordable healthcare for millions of American workers and their dependents. The extensive list of eligible expenses covers well-known services like medical, dental, and vision copays, copays, deductibles, eyeglasses and contact lenses, and prescription medication. However, due in part to updates in recent years to approved items and services, you may be overlooking a host of qualified FSA

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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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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

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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

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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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Demystifying Healthcare Costs: Employee Tips to Maximize Benefits and Save Money

healthcare costs

Healthcare costs can be confusing, but with the right knowledge and strategies, just about everyone can navigate this complex landscape effectively. Below are some helpful tips for employees to maximize their benefits and save money in the process.  Understanding Healthcare Costs Before diving into cost-saving tips, it’s essential to understand the various healthcare cost components. Healthcare expenses can include premiums, deductibles, copayments, coinsurance, and out-of-pocket maximums. Additionally, there may be other costs associated with prescription

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