Insurance

Final regs delay health & 401(k) plan deadlines

05/06/2020

Final regulations and a separate disaster relief notice from the Department of Labor set up an outbreak period—running from March 1, 2020, until 60 days after the announced end of the coronavirus national emergency—that plans must ignore for purposes of employees’ health plan elections and 401(k) plans’ responsibility to provide notices to participants.

Coronavirus could actually cut employer health costs

05/05/2020

COVID-19 could reduce employer health care costs by as much as 4% in 2020, as medical care for noninfected patients has declined during the pandemic, according to a Willis Towers Watson analysis of large, self-funded employers, released May 1.

Employers broadening their health and well-being efforts

04/21/2020

Employers are broadening their efforts to help their workers cope with COVID-19 while at the same time preparing for an eventual return to a stable workplace, according to a survey conducted March 30 by the Willis Towers Watson consulting firm.

Almost 10 million lost health benefits in just one month

04/21/2020

An estimated 9.2 million workers probably lost their employer-provided health insurance in the four weeks between March 15 and April 15, according to an analysis by the nonprofit Economic Policy Institute,

Pay, benefits adapt to coronavirus pressures

04/14/2020

Results of the “WorldatWork COVID-19 Employer Response Survey” provide a window into how organizations are addressing compensation and benefits issues.

Forecast: 2021 health insurance costs to spike

04/09/2020

Even in the midst of the COVID-19 pandemic, health care industry experts are already talking about significant increases in health insurance costs for 2021.

5 management strategies to cut UI expenses

04/07/2020

The coronavirus, which rampaged through the economy like wildfire, has everyone focused on unemployment benefits. To secure the lowest contribution rate possible, you’re going to need to keep extraneous benefits charges off your state unemployment account. There are five strategies every manager can implement right now.

DOL paves way for unemployment benefits

03/26/2020

Enhanced unemployment insurance benefits are a centerpiece of the mammoth $2 trillion coronavirus stimulus legislation that Congress and the White House negotiated the week of March 23. Details were still being hashed out at press time, including “unemployment compensation on steroids,” according to Senate Minority Leader Chuck Schumer.

Stressed employees? New perk may help

03/26/2020

If you are currently operating at full capacity and looking to add workers to meet increased demand, you’re probably finding it hard to hire. And while raising pay may help, that won’t address needs of a stressed and anxious workforce. But there is one perk that may set your business apart: Consider offering various therapy services for worried workers.

IRS says employers can expand COVID-19 coverage with HSAs

03/17/2020

If you offer a high deductible health insurance plan compatible with a tax sheltered Health Savings Account, you know that the plan and the employees who use it face tight Internal Revenue Service restrictions on how much employees must pay before full insurance coverage kicks in. Fortunately, the IRS has moved quickly to address COVID-19 cover-age through HSAs.