While the Affordable Care Act still faces uncertainty, employers are looking for ways to reduce their healthcare costs and offer employees healthcare benefits that meet their needs. A new report—released by Benefitfocus, Inc., a cloud-based benefits management platform and services provider— shows a continued shift toward consumer-directed health care, with the rate of employers offering at […]
Tag: Employee Benefits
On October 6, the Trump administration released two interim final rules that will vastly expand the availability of exemptions to the Affordable Care Act’s (ACA) rules requiring employer coverage of contraceptives. The ACA requires employers and insurers that offer group health plans to employees to cover certain approved contraceptive methods—at no additional cost to employees—or […]
by Tammy Binford As the idea to make paid family leave mandatory continues to gain attention, employers may be wondering what various paid leave proposals might mean for their businesses. A June 20 meeting between first daughter and presidential adviser Ivanka Trump and a handful of senators doesn’t draw a clear picture of what may […]
Beneficiary designations, and disputes over them, can be a disproportionate drain of time and other resources spent by administrators of tax-qualified retirement plans. The Employee Retirement Income Security Act of 1974 (ERISA) does not prescribe a particular manner by which participants in ERISA-covered plans must designate their beneficiaries.
A group of Republican senators has proposed a replacement bill for the Affordable Care Act (ACA) that would allow states to choose whether to keep Obamacare’s provisions in place. Because employers’ requirements would depend on where employees work, compliance could be a real challenge for companies with operations in multiple states, according to the Society […]
by Deanna L. Forbush Nevada is unique in so many ways. For instance, unlike other states, Nevada has a constitutional provision that authorizes a two-tiered minimum wage. It’s called the Minimum Wage Amendment (MWA). Under the MWA, if an employer provides qualifying health benefits, a minimum-wage employee may be paid $1 per hour less than […]
Employers everywhere are looking for new ways to attract and retain talent. While companies like Facebook and Apple® are offering to freeze its female employees’ eggs as a way to recruit more diverse talent, other companies are jumping on the crazy train and offering even weirder workplace perks. According to the Mirror, a new trend […]
In its inaugural “State of Employee Benefits 2016” report, Benefitfocus found companies are altering their healthcare plan design to shift greater financial responsibility to employees via voluntary benefits, driving the need for a different approach to healthcare consumption. These benefits can be powerful tools in helping cover the costs associated with consumer-driven health care, says […]
Millennial employees—18 to 34 years old—selected high deductible healthcare plans more than any other age group. However, while approximately 44% of employees in this group chose HDHPs, a much smaller number of these employees took full advantage of health savings accounts (HSAs), according to Benefitfocus inaugural “State of Employee Benefits 2016” report.
A prescription drug’s ability to prolong life is a top factor health plans are using when fixing benchmark prices for drug reimbursement, followed by the drug’s ability to improve the patient’s quality of life, health care stakeholders said at an April 15 briefing hosted by the Alliance for Health Reform. Steven Pearson, MD, MSc, president […]