A Financial Wellness Wake-Up Call: How to Support Your Team

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BrightPlan published its most recent Wellness Barometer Survey, a collection of data to help people learn what’s on employees’ minds and how employers can best support their team—especially in this changing market and workplace environment.

The survey focuses on financial wellness, an essential concern for employees. We’ll define financial wellness, summarize the most critical findings from the survey, and review how you can use these findings to support your employees. Read more

ACA Affordability Percentage Drops to a New Low for 2024

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Just when we thought affordability percentages couldn’t possibly go lower than the 2023 rate of 9.12%, the Internal Revenue Service released Revenue Procedure 2023-29 declaring the Affordable Care Act (ACA) benchmark for determining the affordability of employer-sponsored health coverage will significantly decrease to 8.39% of an employee’s household income for the 2024 plan year. This almost ¾ percentage point is a significant decrease for several reasons.

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Flipping the Script on Time Management

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Time management affects a massive part of our lives, from how much we earn to how happy we are.

Learning to manage your time involves everything from your ability to hit big goals to how satisfied you are by the end of the day. Time management strategies can be helpful, but many miss the mark because they do nothing to address underlying habits and predispositions that lead to poor time management.

While the Pomodoro Technique or adding calendar blocks to your schedule can be worth trying, these approaches rely on us to add something new to our pattern of habits. They don’t redefine how to work with preexisting practices or rid people of deeply ingrained habits that frazzle us when we look at our to-do lists, miss deadlines, and show up unprepared for meetings. Read more

Deadline Approaching for Medicare Part D Coverage Notices

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By October 13, 2023, plan sponsors that offer prescription drug coverage must provide notices of creditable or non-creditable coverage to Medicare-eligible individuals. While plan sponsors are typically responsible for providing these notices by October 14th every year, this year’s notice is due by October 13th because the 14th falls on a Saturday.

Creditable coverage is expected to cover, on average, at least as much as the standard Medicare Part D prescription drug plan, whereas non-creditable coverage falls below this threshold. Two methods are available to establish a prescription drug benefit’s creditability status: a simplified determination or an actuarial determination of credibility. Read more