Section 125 plans let employers offer employees non-taxable benefits that contribute toward healthcare expenses. These plans provide significant tax savings, so they’re beneficial to both employers and employees. They also help reduce the burden of rising healthcare costs, allowing businesses to take care of their teams’ financial, mental and physical health. Doing so can result […]

The federal government initiated several programs to address the challenges posed by the coronavirus outbreak. One of these programs was the Consolidated Omnibus Budget Reconciliation Act (COBRA) subsidy, which excluded qualified individuals from paying premiums for a specified duration. Although the program has ended, insurance brokers continue to offer valuable services to clients who have […]

Top Employee Benefits for Millennials and Gen Z Hiring top talent drives innovation, improves productivity and ultimately puts businesses ahead of the competition. By curating an appealing set of benefits, businesses are more likely to attract hard-working employees and experience these qualities within their operations. As the average cost of employee turnover equates to a third […]

Employee benefits are indicative of a workplace that values and supports its employees. A comprehensive employment package is vital in today’s competitive job market. As individuals become increasingly aware of the norm in employment benefits, what you add to your offer will showcase a well-rounded work environment that encourages people to join. There are various […]

The IRS releases updated FAQs addressing covered expenses under HSAs, FSAs and HRAs On March 17, 2023, the IRS posted answers to frequently asked questions regarding whether certain costs related to nutrition, wellness, and general health are medical expenses that can be paid or reimbursed under a health savings account (HSA), health flexible spending arrangement […]

It’s no secret that employee benefits can be complicated — for both the employee and employer. Between health insurance enrollment, costs, selecting benefits and completing forms, it’s no wonder many employees are less engaged with benefits overall. As an employer, it’s important to know how to explain benefits to employees so they can make well-informed […]

Open enrollment is a complex process, but it doesn’t have to be. By armoring yourself with open enrollment tips and tools, you can tackle your upcoming benefits enrollment like a champion. Request a Proposal 1. Plan Ahead of Time When it comes to open enrollment, it is best to start planning early. By creating a renewal timeline halfway through your […]