For the final 2024 edition of our Live Well, Work Well newsletter , we’re focusing on emotional well-being during the holidays. Read this issue for:  Topic #1: Six tips to prioritize your emotional well-being around the holidays.  Topic #2: How to give your favorite recipes a healthy makeover.  Topic #3: New research on sleep and brain aging acceleration.   Bonus: Apple sauce cookies recipe.  [Download the latest edition today]   Share our newsletter with your team  Encourage your team to thrive by sharing our Live Well, Work Well newsletter! Packed with valuable insights on health, wellness and work-life balance, this monthly publication is designed to help employees lead healthier, happier lives both inside and outside the workplace.    By sharing this resource , you can foster a positive work environment, promote well-being and demonstrate your commitment to employee wellness. Get caught up by reading our latest edition on ways ...

In the fast-paced world of human resources, staying updated on the latest regulations and compliance requirements is crucial. The end of the year is a particularly busy for HR professionals and benefits administrators.  The IRS annually adjusts employee benefit plan limits for inflation, so employers need to update their plans accordingly. This blog post will guide you through the employee benefit plan limits for 2025 and offer a comprehensive year-end checklist to ensure compliance and preparedness. We also provide two downloadable resources to support your work:   2025 Employee benefits plan limits reference sheet.   2024 Year-end compliance checklist.   Comparing 2024 and 2025 limits  It's helpful to compare the benefit plan limits for 2024 and 2025 to understand the changes and prepare for the upcoming year.  [Download the full employee benefit plan limits for 2025]   Chart of inflation-adjusted limits: This comprehensive chart compares the 20...

Welcome to the December 2024 edition of Benefits Buzz ! In this issue, we dive into the latest topics related to employee benefits, wellness programs and ever-evolving workplace dynamics. Stay informed and gain insights that help you make the most of your benefits package.  This month's highlights  Topic #1: A brief breakdown of IRS employee benefit plan limits for 2025.  Topic #2: Federal agencies seek to expand coverage for OTC contraceptives under Notice 2024-75, which could impact high-deductible health plans and issuers.   [Download the Full Story PDF]   Stay informed, stay empowered and make the most of your benefits with Benefits Buzz! Be sure to follow us on LinkedIn for monthly updates and never miss out on the latest in benefits news.  Questions?  If you have questions, contact TruePlan . Our team of advisors can help you with questions within the scope of employee benefits .    Read our last Benefits Buzz on ACA reportin...

Telemedicine has made significant strides, reshaping how healthcare is delivered and making medical services more accessible. With the recent surge in its popularity, it's crucial to understand how implementing this benefit could impact your business and your employees' health savings accounts (HSAs). For HR professionals, employers and plan sponsors, knowing the intricacies of telemedicine’s influence on HSA eligibility is essential.  [Download the entire story] to access links and charts from the IRS on HSA eligibility requirements and HSA-compatible coverage types. For a summary, read on.  The intersection of telemedicine and HSA eligibility  Did you know that offering a telemedicine benefit could affect an employee's eligibility for HSA contributions? The IRS has yet to issue direct guidance on this topic; however, general rules governing HSA contributions can help inform your decisions. The structure of your telemedicine benefit could determine whether it is conside...

Vendor management can be a litigious environment where efficiency, transparency and risk mitigation are paramount. With the right advisor in your organization’s corner, you’ll feel more confident navigating vendors and managing their services, ensuring streamlined processes and strategic alignment.   In this blog post, we'll cover the basics: What vendor management in HR entails, why it's important, how it can transform businesses and some scenarios in a few business types. Level up your knowledge and find the right partners to thrive.  Understanding vendor management in HR  Vendor management in HR involves the systematic management of third-party suppliers who provide goods and services essential to HR operations. This includes managing contracts, ensuring compliance with service level agreements and optimizing vendor performance to align with a company's long-term business goals.  A robust vendor management strategy can provide organizations with a structured ...

Compliance is a crucial aspect of human resources, ensuring an organization’s smooth operation and legal standing. For human resources (HR) managers, plan sponsors and employers, navigating the labyrinth of HR compliance can be daunting. Add retirement planning rules and regulations into the mix, and HR teams have a full plate.  Use this blog post as your guide to essential information on:   HR compliance for retirement plans;  labor laws and compliance implementation strategies;  how to make HR compliance part of your workplace culture; and   the ways TruePlan can assist as an HR guide, providing HR compliance solutions and assistance.  Understanding HR compliance  HR compliance refers to the process of defining policies and procedures to ensure that your employment and work practices demonstrate a thorough understanding of applicable laws and regulations, while also being tailored to the specifics of your organization. It encompasses variou...

Can investors breathe a sigh of relief?  The third quarter of 2024 has proven to be both eventful and rewarding for investors across various asset classes. While the first half of the year saw a steady rally in equity markets, fixed-income markets were less fortunate, navigating through a maze of volatility. However, relief came in Q3 as bond markets gained momentum alongside equities, helped by the Federal Reserve's decisive move to cut interest rates by 50 basis points.*  Download the full Market Recap to get insights into these major areas:   the equity market’s resilience;  a resurgent fixed-income market;  geopolitical influences and safe havens; and  the Fed’s interest rate cuts.  The road ahead  Looking forward, investors remain cautious yet optimistic. While the prospect of additional rate cuts presents opportunities, geopolitical uncertainties continue to loom large. Download our comprehensive Market Recap for an in-depth analysis and in...

Heads up healthcare professionals and group health plan administrators!   The U.S. Department of Health and Human Services (HHS) announced significant increases in civil penalties for Summary of Benefits and Coverage (SBC), Medicare Secondary Payer (MSP) and HIPAA violations as of Aug. 8. These adjustments, made to keep up with inflation, underscore the importance of complying with federal requirements.  The stakes have never been higher. Whether you're navigating adjustments in penalties ranging from $1,406 to $71,162, or ensuring your compliance protocols are airtight, this update is critical for anyone managing group health plans.  Dive into the full post to get a comprehensive overview of these changes, understand how they could impact your organization and learn how to safeguard against potential violations. Don’t wait — download the full story now to stay ahead of the curve !  Have questions? Contact us  TruePlan Benefit and Retirement Advisors focus...

In an era when ROI is the name of the game, HR leaders face the delicate task of maximizing the impact of shrinking budgets. But fear not — where there are challenges, there are also solutions.   Download our full article to take a deep dive into adaptive strategies for aligning HR initiatives with business objectives, ensuring financial resources are effectively used to support company growth.  Discover how to:  craft an agile HR budget that thrives amid funding cuts;  optimize talent acquisition processes to secure top candidates without breaking the bank;  implement continuous learning initiatives to boost employee morale and productivity;  streamline HR administration to save time and reduce errors; and  use key performance indicators to measure success and guide strategic decisions.  Ready to equip your team with the tools needed to turn budget constraints into opportunities for growth? Download the full story now for strategies to comb...

The November 2024 edition of our Live Well, Work Well newsletter focuses on:  Topic #1: Mindfulness tips for fall that prioritize your physical, emotional and mental health.  Topic #2: Daylight saving time information and how it impacts your health.  Topic #3:  How to start planning now for a stress-free holiday season.  Bonus: Apple cinnamon bars recipe.  [Download the latest edition today]   Employer note: Preparing for virus season  With the arrival of fall and winter, respiratory viruses are rising. HR professionals are crucial in safeguarding employee health and maintaining a safe workplace. Here are some strategies for navigating the respiratory virus season:  1. Evaluate workplace risks  Although COVID-19 mandates have ended, it's vital to independently assess potential exposure risks in your workplace. Consider implementing controls like personal protective equipment and administrative measures to mitigate hazards.  2. R...

Welcome to the November 2024 edition of Benefits Buzz! This month, we dive into the latest topics related to Affordable Care Act (ACA) reporting for 2024 and updates on the IRS. Stay informed and gain insights that help you navigate new regulations and changes.  This month's highlights  Topic #1: ACA final forms and instructions for 2024 are now available.  Topic #2: IRS releases health FSA limits for 2025.  Download the full story  For an in-depth look at this month's topics, download the PDF below. Don't miss out on valuable insights regarding important 2024 forms and 2025 increases.  [Download the Full Story PDF]   Stay informed, stay empowered and make the most of your benefits with Benefits Buzz! Be sure to follow us on LinkedIn for monthly updates and never miss out on the latest in benefits news.  Have questions?  If you have questions, feel free to contact TruePlan . Our team of advisors can help you with questions within the scope ...

Navigating the complexities of financial and retirement planning can feel like an uphill battle for employees. However, with the right guidance and resources, employers and human resource professionals can equip staff with the tools they need to achieve financial wellness and a secure future. In this blog post, we will explore:  how providing a comprehensive retirement program can lay the groundwork for financial success;  why a comprehensive financial wellness program on top of a retirement plan is crucial;  how to implement a successful financial wellness program; and  a note on how supplemental benefits can be a game-changer for attracting and retaining talent.  Understanding the importance of a rich retirement program  A well-structured retirement plan provides employees with a sense of security and peace of mind. It is a strategic tool for employers to enhance employee satisfaction and loyalty.  Retirement planning is crucial for employees of all ...

Curious about the future of healthcare costs? In the latest news brief , we reveal how the soaring popularity of weight loss drugs like Ozempic and Wegovy could impact your organization's budget by 2025. Discover key insights into rising pharmacy costs, employer strategies and what it means for your benefits plan.   [Download the report]   Quick summary  The report underscores the significant shift in pharmacy cost allocations as more individuals seek access to these medications. With the increasing acceptance of Ozempic and Wegovy as part of weight management strategies, organizations face new challenges in managing benefit costs.   By equipping yourself with these insights, you empower your organization to ascertain the most effective path forward amidst evolving healthcare landscapes. Prepare for the future by understanding present dynamics and reshaping your benefits strategy accordingly.   Contact us for additional information  If you ha...

The October 2024 edition of our newsletter, Live Well, Work Well , focuses on:  Topic #1: What to know about this year’s flu season.  Topic #2: The power of breathwork.  Topic #3: Start planning now for a stress-free holiday season.  Bonus: A pumpkin chili recipe!   [Download the latest edition today]   Empower your team to live and work well every day!  Share the newsletter with your team  Encourage your team to thrive by sharing our Live Well, Work Well newsletter! Packed with valuable insights on health, wellness and work-life balance, this monthly publication is designed to help employees lead healthier, happier lives both inside and outside the workplace.    By sharing this resource, you can foster a positive work environment, promote well-being and demonstrate your commitment to employee wellness. Get caught up by reading our September 2024 edition on cholesterol, disaster preparedness and mental health — plus, there’s a rice...

As the labor market continues to slow, it’s anticipated that organizations will have difficulty attracting and retaining talent—leaving employers more eager than ever to tangibly incorporate successful talent strategies. Read the latest edition of the Attraction & Retention newsletter to get key employer takeaways on:  the slowing labor market;  using employee benefits as a workplace retention factor;  supporting working parents during the 2024-2025 school year; and   a Q4 2024 workplace outlook.  Get your labor market recap today. You can also review the Q3 2024 Attraction & Retention newsletter, which details employee retention statistics and best practices as well as how to attract millennial talent.  If you’d like more information regarding the newsletter and our services, contact our team of experts today ! We’re here to answer any questions surrounding your employee benefits and retirement plan efforts.   This is not intend...

Welcome to the October 2024 edition of Benefits Buzz! In this blog post, we dive into the latest topics related to the IRS and the Affordable Care Act (ACA). We also examine the Mental Health Parity and Addiction Equity Act (MHPAEA) final rule.  This month's highlights  Highlight #1: On Sept. 6, the IRS released the affordability percentage threshold for 2025 plan years under the Affordable Care Act’s (ACA) pay-or-play rules.  Highlight #2: On Sept. 9, DOL, Health and Human Services and the Treasury Departments released a final rule to strengthen the requirements of the Mental Health Parity and Addiction Equity Act (MHPAEA).  Download the full story  For an in-depth look at this month's highlights, download the PDF below.   [Download the full story]   Stay informed, stay empowered and make the most of your benefits with Benefits Buzz! Be sure to follow us on LinkedIn for monthly updates and never miss out on the latest in benefits news.   ...

Fiduciary governance is a fundamental aspect of managing retirement plans and benefits. Understanding the intricacies of fiduciary duties is crucial for employers, plan sponsors and retirement plan advisors to ensure compliance and safeguard against potential liabilities.   In our recent webinar, Quick hits session: Fiduciary Governance , we equipped participants with essential knowledge and strategies to navigate the complexities of fiduciary responsibilities. To help you build on your learnings, we wrote this supplemental blog. Explore the key elements of fiduciary governance, including best practices, monitoring entities, establishing sound processes and avoiding common compliance pitfalls.  Fiduciary best practices  At its core, fiduciary duty involves acting in the best interest of plan participants and beneficiaries. This means making decisions with care, skill and diligence. Here are some best practices to help you fulfill your fiduciary responsibilities :...