When it comes to filling a job opening, companies have two options: internal recruitment vs. external recruitment.   Each method has its own advantages and disadvantages, so it's important for companies to carefully consider which is best for their specific needs. In this blog, we'll explore each method, providing insight on how to make the best decision for your organization.  What is internal recruitment?  Internal recruitment means filling job vacancies from within a company by promoting or transferring current employees to the desired position rather than hiring externally. Internal recruitment can take various forms, such as:  promoting employees to higher positions;  transferring employees to different departments or locations; or   encouraging employees to apply for open positions within the organization.  One benefit of internal recruitment is that it provides opportunities for career development and advancement for current employees. By c...

Group employee medical benefit plans typically fall into one of two categories: self-funded or fully insured. The choice of one over the other should not be made arbitrarily. Each type carries its own set of administrative rules and legal constraints.  What is self-funding?   Under an insured health benefit plan, an insurance company assumes the financial and legal risk of loss in exchange for a fixed premium paid to the carrier by the employer. Employers with self-funded (or self-insured) plans retain the risk of paying for their employees’ healthcare themselves, typically from corporate funds.   Most employers with more than 200 employees self-insure some or all their employee health benefits. Many employers with fewer than 200 employees also self-fund, but these employers require greater stop-loss insurance protection than larger employers (stop-loss insurance is discussed below). Generally, employers with fewer than 100 employees fully insure their group medical benef...

HSA/HDHP limits will increase for 2025  On May 9, the IRS released Revenue Procedure 2024-25 to provide the inflation-adjusted limits for health savings accounts and high-deductible health plans for 2025. The IRS is required to publish HSA/HDHP limits by June 1 each year. These limits include:  the maximum HSA contribution limit;  the minimum deductible amount for HDHPs; and  the maximum out-of-pocket expense limit for HDHPs.  These limits vary based on whether an individual has self-only or family coverage under an HDHP.  Eligible individuals with self-only HDHP coverage will be able to contribute $4,300 to their HSAs in 2025, up from $4,150 in 2024. Eligible individuals with family HDHP coverage will be able to contribute $8,550 to their HSAs in 2025, up from $8,300 in 2024. Individuals age 55 or older may make an additional $1,000 “catch-up” contribution to their HSAs.  The minimum deductible amount for HDHPs increases to $1,650 for self-only cover...

Employers often ask, “What are the benefits of employee assistance programs, and how can I encourage employees to use them?”  EAPs are employer-sponsored programs that offer services or referrals to help employees manage personal challenges. These programs can boost employee well-being, satisfaction, performance and health.   Unfortunately, these programs are heavily underutilized. According to Mental Health America , 98% of mid- to large-sized companies offer EAPs, but only 4% of employees use them yearly. This represents a significant missed opportunity for employers and employees. Employers can use the guidance in this article to increase the use of their EAPs.  What is an EAP?  EAPs vary between organizations. Some programs focus specifically on issues such as mental health or substance misuse, while others offer expanded services to address eating disorders, marital issues, legal problems, childcare, care for older adults, gambling addiction and more.  Depe...