Total rewards packages refer to the compensation and benefits plans that companies offer. This phrase, however, extends beyond mere salary or wages and traditional benefits, like health insurance, to provide both recruits and employees with a rundown of what makes the employer special. Some in Human Resources might regard the total rewards package as the
Choosing the right benefits during open-enrollment season is so important and can help save money. It can also give individuals and families broader support with their health. Benefits like medical coverage are particularly important with high inflation having such a big impact on people’s budgets. A survey by UnitedHealthcare found that nearly 40% of employees
Dive Brief: On average, American workers miss two days of work per year due to being hungover, a survey of 1,000 full-time workers from Delphi Behavioral Health Group found. By industry, the sector most affected by hangovers is tech, with an average of 8 sick days used, while construction workers and legal industry workers used four,
First off, great job on buying life insurance! You took an important step by protecting the ones you love. Every life insurance policy requires you to name a beneficiary. A life insurance beneficiary is typically the person or people who get the payout on your life insurance policy after you die; it may also be
Question: Can an employee change a pretax plan election after the employer’s open enrollment window has closed but before the plan year has begun? Are there any potential downsides for allowing this? Answer: Yes, an employee may make a change to his or her benefit election after open enrollment has ended but before the plan year
Question: Our company received a rebate check from our health insurance carrier. As the employer, we pay the bulk of premiums, although employees who enroll for coverage do pay a portion of the cost. Are there restrictions on how we can use the rebate money? Answer: Yes, there are restrictions on using the rebate. The
Are you confused about life insurance? I don’t blame you. When I first started writing about finances more than a decade ago, my understanding of life insurance was limited. I knew about life insurance because it was offered through my employer, and I thought a $50,000 policy was a lot of money. I also recognized
As you look through enrollment options for 2019, remember to look back on 2018. Check out your spending on procedures and prescriptions, and which providers are in your network. This short video will give you some tips on how to plan forward for 2019.
It’s typical to have mixed feelings about the annual benefits open enrollment period. Dread for the additional administrative workload and potential benefits cost increases… Anticipation of newer, more attractive, and easier to administer plans… It makes for a fall season that causes many HR professionals and benefits brokers to drown their misery in pumpkin spice lattes.
Question: Can we require our employees to get flu shots? Answer: While there is no law that prohibits employers from mandating flu shots — and in some states, the law requires all healthcare workers to get flu shots — you should carefully determine if the benefits to your business outweigh the risks. There has been