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

On Aug. 19, 2022, the Departments of Labor (DOL), Health and Human Services (HHS) and the Treasury (Departments) jointly released a final rule implementing the ban on surprise medical billing under the No Surprises Act (NSA), which was enacted as part of the Consolidated Appropriations Act, 2021 (CAA). This rule finalizes two interim final rules…

In the wake of the Great Reshuffle—the mass movement of workers to jobs that prioritize their needs—and macro trends like the tight labor market, attraction and retention are top of mind for employers. In fact, according to Zywave’s 2022 Attraction and Retention Benchmarking Overview, over 75% of employers consider attraction and retention to be among…

On Thursday, July 21, Amazon reached a deal to acquire One Medical, a network of boutique primary care clinics, for $3.9 billion. This is another substantial step in the e-commerce giant’s plans to become a player in the health care industry. Through this deal, Amazon hopes to improve how people book appointments and enhance the…

The job market is still dealing with the aftereffects of the COVID-19 pandemic. Workers are taking stock of their circumstances and considering which employment perks matter the most. Specifically, employees are increasingly more concerned about their physical and mental health, financial security and work-life balance than before the pandemic. Many employers have responded by enhancing…

The traditional weekly or biweekly concept of “payday” is engrained in many workplaces. However, some employers are exploring ways to pay their workers faster, especially those in industries that provide hourly wages or have high turnover rates. As Americans face rising costs for everyday essentials, health care and other emergencies, on-demand pay—also known as earned…

On Nov. 17, 2021, federal agencies released an interim final rule requiring health plans and issuers to report information regarding the cost of prescription drugs and certain medical expenses. This rule is a continuation of the Biden administration’s efforts to promote greater transparency in health care spending. Overview of the Interim Final Rule This rule…

Many employee benefits are subject to annual dollar limits that are periodically updated for inflation by the IRS. The following commonly offered employee benefits are subject to these limits: High deductible health plans (HDHPs) and health savings accounts (HSAs);Health flexible spending accounts (FSAs);401(k) plans; andTransportation fringe benefit plans. The IRS typically announces the dollar limits…

HRAs reimburse employees for certain medical costs. Depending on the plan, such expenses may include doctor visits, medical procedures and prescriptions. An employee must be enrolled in their employer’s group health plan to qualify for an HRA. ICHRAs are a bit different. These accounts can reimburse employees for certain medical expenses, insurance premiums or both.…

Health care is rarely straightforward for the average consumer. Many individuals need help making sense of their options both during open enrollment and when receiving health services. In fact, 8 out of 10 people said they faced challenges when receiving care, according to a recent study from Quantum Health. According to the study, the vast…