Many employers offer a Dependent Care Assistance Program (DCAP) that lets you set aside pre-tax dollars to pay eligible dependent care expenses. This article highlights dependent care benefits and how to make the most of them.  [Download the full PDF here]   Making the most of DCAP  If you’re balancing work and caregiving responsibilities, a DCAP can help ease the financial burden. Also known as a dependent care flexible spending account, a DCAP allows you to set aside pre-tax dollars to pay eligible dependent care expenses — offering valuable tax savings for working families.  Here’s what to know:  Pre-tax savings: Contributions reduce your taxable income, which can lower your overall tax bill.  Qualified expenses: Eligible costs may include day care, preschool, after-school programs and adult day care for dependents who require supervision.  Who qualifies: Care must be provided for children under age 13 or for dependents who are physically or mental...

  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 ...

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 ...

  With more than 150 voluntary benefits available to supplement traditional offerings like health insurance and 401(k) plans, choosing the right mix can feel overwhelming. How can organizations strike the perfect balance between employee needs, budget constraints and market competitiveness?  In our latest guide, How to navigate a growing array of benefits options , we break down the essential steps to designing a competitive and cost-effective benefits package. From assessing workforce needs to prioritizing offerings and ensuring compliance, this resource provides a roadmap for success.  [Download the full guide now]    Want more information on employee benefits?  As an employee benefits service provider, we have more resources you can leverage. First, explore the five employee benefits trends employers can’t ignore in 2025 . Then, learn what employee benefits perks you can add to your current offerings .  This content is for informational purposes onl...

The employee benefits landscape is shifting and organizations that stay ahead of these changes will have a competitive edge in attracting and retaining top talent. With workforce expectations evolving around healthcare, family support and financial wellness, understanding the latest trends is more critical than ever. Here’s a preview of the five key trends shaping employee benefits in 2025.  [Give Me the Full Report]   Five key 2025 trends shaping employee benefits  1. Regulatory changes on the horizon  The new administration in Washington could bring significant shifts in healthcare policies, from Affordable Care Act subsidies to Medicare and Medicaid adjustments. Employers must be prepared for potential impacts on benefits structures.  2. Rising healthcare costs and plan adjustments  With costs projected to increase by 7% to 8%, many employers are considering plan redesigns, including higher deductibles and cost-sharing models. Understanding these shifts ...

Welcome to the January 2025 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  PCORI fee amount adjusted for 2025: The IRS recently issued Notice 2024-83 to increase the Patient-Centered Outcomes Research Institute (PCORI) fee amount for plan years ending on or after Oct. 1, 2024, and before Oct. 1, 2025.   New mental health parity requirements take effect in 2025: In September, federal agencies 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 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 valu...

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...

Prescription drug cost drivers Although prescription drug spending has historically been a small proportion of national healthcare costs compared to hospital and physician services, it has grown rapidly in recent years. According to CMS, prescription drug spending increased 7.8% to $378.0 billion in 2021, up 3.7% from the previous year. A recent study found that “In 2022, overall pharmaceutical expenditures in the US grew 9.4% compared to 2021, for a total of $633.5 billion. Utilization (a 5.9% increase), price (a 1.7% increase) and new drugs (a 1.8% increase) drove this increase.” These results illustrate increasing prescription drug spending, especially with new, specialty and cancer drugs. According to the same study, employers will have to watch for a predicted rise of 6% to 8%. A multitude of factors led to this steady rise in prescription drug pricing, including the following. An influx of specialty drugs Specialty medications account for a smaller portion of U.S. prescriptions...

Employee benefits can play a crucial role in attracting and retaining top talent. Beyond compensation and bonuses, offering a variety of perks can significantly enhance employee satisfaction and productivity. But what should you include in your employee benefits offerings?   What are employee benefits?   Employee benefits encompass compensation, bonuses and various perks outside an employee's wage. By offering flexible employee benefits, you can improve employee productivity and loyalty while attracting and retaining talented candidates.   Personalized benefits examples   The type of benefits offered can vary by industry. We've compiled some of the most popular options to help you explore possible employee benefits strategies .  1. Social opportunities   Employee perks don't always have to be tied to a benefits package. Sometimes, the best way to engage your employees can be through social opportunities. Group activities can help im...

The U.S. Department of Labor (DOL) released a new model employer Children’s Health Insurance Program (CHIP) notice with information that is current as of July 31 .   Under the Children’s Health Insurance Program Reauthorization Act of 2009 (CHIPRA), employers maintaining group health plans in states that provide premium assistance subsidies under a Medicaid plan or a CHIP plan must send employees an annual notice.   An employer can choose to provide the notice on their own or concurrent with the furnishing of:   materials notifying the employee of health plan eligibility;  open enrollment materials; and  the summary plan description.  An employer is subject to this annual notice requirement if their group health plan covers participants who reside in a state that provides a premium assistance subsidy, regardless of the employer’s location.   Employers may use the DOL’s model notice for this disclosure. DOL updates the model notice periodicall...

Now more than ever, employees are looking to their employers for guidance on navigating available benefits and how to stretch their dollars further. As such, effective communication for open enrollment 2025 is critical. According to a Willis Towers Watson report , 84% of employers plan to expand their tools in 2023 to help employees navigate their enrollment decisions, compared with 70% last year. Employees are likely paying more attention this year as they navigate record-high inflation and work to maximize every hard-earned dollar. Many of today’s workers want help understanding how much money to put aside for retirement, emergency savings and healthcare expenses. Employers have an opportunity to shine by effectively communicating and guiding employees throughout the enrollment process and the rest of the year. As the 2025 open enrollment season approaches, employers are poised to provide their employees with resources and digital tools. Here are eight tips you can use to effectively...

Financial stress lowers employee productivity and morale and is far more common than you may think. According to an economic report from the Federal Reserve , nearly four in 10 American adults wouldn’t be able to come up with $400 in an emergency.   This article explores how employers can reduce employees' financial stress with voluntary benefits.   The real-world costs of financial stress  Financial stress takes a toll on employers and employees alike. According to a recent Salary Finance survey , lost productivity due to financial stress costs the country around $500 billion each year. What’s more, employees under such stress are more than twice as likely to seek other employers, according to the same survey. And financially stressed employees are several times more likely to suffer anxiety attacks, experience depression, miss deadlines and produce lower-quality work than their non-financially stressed counterparts.  How employers can help with voluntary benef...

In today’s competitive labor market, retaining key employees is more critical than ever. Essential team members possess unique skills, knowledge and experience that significantly contribute to your organization's success. Losing them can be costly and disruptive, so it’s crucial to prioritize their retention.  We’ve created a comprehensive checklist to help identify and retain your top performers. This tool will help you recognize the qualities that make your key employees indispensable and implement strategies to meet their needs and expectations.  Benefits of using our checklist :  Tackle retention challenges: Learn how to retain top talent in a tight labor market.  Recognize key qualities: Identify the unique attributes that make key employees irreplaceable.  Implement effective strategies: Take action to meet your employees' expectations and keep them engaged.  Secure your top talent and ensure your organization's continued success by downloading our ...

In today's competitive employment landscape, many organizations recognize that employees are their most valuable asset. To attract and retain top talent, employers must go beyond competitive salaries and create holistic and meaningful employee benefits packages that address diverse workforce needs.   Understanding and addressing employee benefits gaps is crucial for employers who aim to create an engaged, supported and satisfied workforce.   Well-rounded benefits packages often translate to enhanced employee well-being, boosted retention rates and a positive work culture. This article highlights proactive steps employers can take to identify and assess gaps in employee benefits offerings.  Employer considerations: How to identify employee benefits gaps   Identifying gaps in employee benefits offerings can be a complex task, as it requires a careful assessment of employee preferences, trends and organizational resources. Consider the following strategies for...

As healthcare costs continue to rise, so does demand for voluntary benefits. Since many employers find it increasingly difficult to provide employees with a complete benefit package, voluntary benefits have become an ideal solution.   Voluntary benefits are attractive to employers because there is no added cost for the organization.  Employees benefit because they have a variety of insurance options available conveniently in one place — often with lower premiums than if they were to buy individual policies.  What are voluntary benefits?   Voluntary benefits are coverages and products made available to employees for elective purchase though payroll deductions. These programs have four key characteristics:   100% employee-paid;   offered through an employer;   solicited and enrolled through a carrier or enrollment firm;   paid through payroll deductions.   Because of their cost efficiency, voluntary benefits are becoming a central componen...

Retirement and employee benefits help create a solid foundation for recruitment and retention. They’re also pivotal in enhancing job satisfaction, boosting productivity, encouraging employee well-being and increasing workplace morale. With the work landscape evolving rapidly, organizations are revisiting their offerings to develop stronger employee benefits strategies.  The first area most small- and mid-size employers investigate is quick, short-term ways to foster company culture. In this blog, we’ll cover budget-friendly ideas to improve your employee benefits initiatives. Think of them as smaller action items that can help you gain a competitive edge. Then, we’ll take a closer look at how customizing your benefits plan can support your new efforts.  1. Promote a healthy work culture  Investing in employee benefit plans is not just about fulfilling a checklist. It's about creating an environment where employees feel supported in both their professional and personal liv...