Prescription drug spending in the United States continues to rise sharply. According to a new report from the American Society of Health-System Pharmacists (ASHP) , U.S. prescription drug spending reached nearly $806 billion in 2024 (an increase of 10.2% compared to 2023).  [Download the full PDF report]   The main driver behind this growth?   Medications, used to treat diabetes and obesity, have seen rapid adoption and high utilization across many populations. In 2025, several factors continue to impact prescription drug spending:  Tariffs on pharmaceutical ingredients , especially those sourced from China, may lead to shortages and drive patients toward more expensive brand-name medications.  Oncology drug spending is expected to grow as new high-cost treatments enter the market and the use of existing therapies expands.  Vaccine spending has declined post-pandemic , but reduced vaccination rates may contribute to rising costs in other areas of care...

If your organization sponsors an employee benefit plan subject to ERISA, your Form 5500 filing deadline is just around the corner.  [Download the Full Story Here]   Key date   For calendar-year plans, the 2024 Form 5500 must be filed with the U.S. Department of Labor by July 31, 2025 — unless you’ve requested an extension by filing Form 5558.  Missing this deadline can be costly. The DOL can assess penalties of up to $2,739 per day for incomplete or late filings. However, relief may be available through the Delinquent Filer Voluntary Compliance Program (DFVCP) — but only if you act before receiving a DOL notice.  Who’s exempt?   Small welfare benefit plans with fewer than 100 covered participants that are unfunded, fully insured or both may not need to file.  Take action now  Work with your plan service providers to ensure you’re ready to file on time and avoid unnecessary penalties.  Download our full guide to learn more about exe...

Welcome to the June edition of Benefits Buzz! In this monthly issue, we dive into the latest news that employers need to know about and monitor.   This month's highlights  Topic #1: The IRS released inflation-adjusted limits for health savings accounts (HSAs) and high-deductible health plans (HDHPs) for 2026.  Topic #2: DOL, DOH and the U.S. Treasury released a statement regarding the non-enforcement of the 2024 final rule under the Mental Health Parity and Addiction Equity Act (MHPAEA).  Download the full story  For an in-depth look at this month's topics, download the PDF below. Dive deeper into the advice and guidance that can help you leverage your benefits to their fullest potential. Don't miss out on valuable insights that could improve your professional and personal life.  [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 update...

  Unlimited PTO has become a popular perk for attracting and retaining talent — but don’t let its simplicity fool you. Beneath the surface lies a web of compliance considerations that vary by state and can create hidden legal risks for well-meaning employers.  Is your unlimited PTO policy putting your organization at risk?  In our latest guide, Compliance Considerations for Unlimited PTO Policies , we unpack the top legal pitfalls like state-mandated leave accrual rules, conflicting payout laws and the nuances of “use-it-or-lose-it” regulations.  [Download the full guide]   From California’s sick leave accrual tracking to Colorado’s payout exemptions, state laws aren’t one-size-fits-all. This resource is essential for any HR leader or compliance officer considering — or already offering — unlimited PTO.  This content is for informational purposes only. It has been partially generated from an AI language model, which may not always be exhaustive or tailored ...

Welcome to the May edition of Benefits Buzz ! In this monthly 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: DOL updates model employer CHIP notice.  Topic #2: Prescription Drug (RxDC) report is due by Jun. 1, 2025.   Download the full story  For an in-depth look at this month's topics, download the PDF below. Dive deeper into the advice and guidance that can help you leverage your benefits to their fullest potential. Don't miss out on valuable insights that could improve your professional and personal life.  [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 ...

With U.S. healthcare costs projected to rise by up to 8% in 2025, employers are facing a new challenge: how to manage the growing cost of GLP-1 medications like Ozempic®, Wegovy® and Mounjaro®. Originally approved to treat Type 2 diabetes, these drugs are increasingly prescribed for weight loss — and they aren’t cheap.  [Learn more in our Healthcare Cost Spotlight]   GLP-1 considerations for health plans  A Per a Business Group on Health (BGH) survey , new data shows more than half of large employers say GLP-1s are “greatly” driving up health plan costs — and demand is rising fast. With over 100 similar drugs in development and more use cases emerging, from treating obesity to sleep apnea and heart disease, this trend isn’t slowing down anytime soon.  To control costs, employers are exploring options like:  requiring BMI thresholds and prior authorization;  pairing GLP-1 coverage with lifestyle or wellness programs;  adjusting cost-sharing arrangements...

Why proactive communication and accessibility matter more than ever  The conversation around employee mental health is no longer on the sidelines. As burnout, stress and anxiety continue to rise in workplaces nationwide, employers are facing growing pressure to evolve how they support mental health — not just with benefits, but with strategies that boost engagement, access and utilization.  Many organizations offer traditional resources like Employee Assistance Programs (EAPs) and mental health leave. But too often, employees aren’t aware these benefits exist or don’t know how to access them when they need help the most.  That’s why we’re helping you rethink your approach to mental health benefits — with strategies that don’t just support employee well-being but also deliver measurable business impact.  [Get Mental Health Care Benefits Strategies Here]   Want to learn more about mental health offerings?  Let’s talk about how your organization can get more ...