News

On Aug. 23, 2023, the IRS released the affordability percentage threshold for 2024 plan years under the Affordable Care Act’s (ACA) pay or play rules. For plan years beginning in 2024, employer-sponsored coverage will be considered affordable under the ACA’s pay or play rules if the employee’s required contribution for self-only coverage does not exceed…

Many employees continue to feel financially strained because of inflation. With open enrollment fast approaching, inflation could impact the choices employees make when it comes to their benefits. Specifically, employees are likely to consider which benefits matter the most and how to optimize the money they spend on those offerings. As a result, this year’s…

The popularity of weight loss drugs has reached a fever pitch in the United States. This trend has made its way into the workplace, with employees increasingly asking their employers about coverage for popular drugs used for weight loss, such as Wegovy. Other drugs intended to treat Type 2 diabetes, such as Ozempic or Mounjaro,…

1. How do you think being part of an ESOP can affect work culture? I feel the ESOP provides a positive impact on work culture because each one of us have a stake in the overall performance of the organization. We are not simply working for “the man,” we are working for one another, regardless…

How does being in an ESOP impact your day-to-day perspective / tasks? This is truly a team effort perspective. My efforts & abilities affect all other ESOP participants, so I have to put forth my best collaborative effort every day in order to achieve the best possible outcome for all. How do you think being…

1. Had you heard of an ESOP before joining OAA? If so, what was your impression of it and how has OAA’s ESOP changed your perspective on it? If you had never heard of an ESOP before, what is your impression of it now? I don’t believe I had ever heard of the term ESOP,…

What does being vested in the ESOP mean to you? (Are you fully vested?) When I became fully vested it was an exciting time to see my statement and realize that the bottom-line balance was all going towards my retirement! Now my statement balance really grows exponentially. How does being in an ESOP affect your…

1. What is something you appreciate about the ESOP that you weren’t aware of when first joining (such as a perk, a perspective, etc.)?    Frankly, I was very unfamiliar with what the ESOP was or how it worked.  I also did not realize what a unique opportunity it is to be part of an…

Many workers in the United States struggle with medical debt. According to a recent survey of American workers by consumer financial health organization Financial Health Network, 37% of employees have medical debt, and 32% struggled to pay their medical bills last year. As health care costs continue to increase in the United States, so does…

1. How does being in an ESOP affect how you interact with clients (both current and potential)?   My philosophy is to do what’s right for the client and everything else will come. My goal is to consistently exceed the client’s expectations. We’ve integrated that rating scale into our BCD Client Satisfaction Survey that we…