Clean Up Your Act: Keep Your Data and Passwords Secure

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We all know that keeping data secure is important. To be careless is to put all your sensitive company and personal information up for grabs, making your business vulnerable to data breaches and putting you and your employees at risk for identity theft. And yet, when it comes to data security, a relaxed approach to data security is all too common.

How relaxed? Here’s a snapshot of notable data breaches in 2023:

Here’s A Term Employers Should Remember: “Fiduciary Duties”

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An event occurred that many members of the compliance and benefits world have been waiting for: A major corporation, Johnson and Johnson (J&J), had a complaint filed against them.

The fact that a complaint was filed against such a large organization is not unusual. What was startling was that the complaint was not filed against J&J in their role as a manufacturer; instead, it was filed against them as a purchaser of prescription drugs for their workforce. More startling (and a HUGE wake-up call to the benefits community), the complaint wasn’t just against J&J—it was filed against individual employees of J&J, including its Executive Vice President and Chief Human Resources Officer, two Vice Presidents of Human Resources, and TWENTY individual members of the Pension and Benefits Committee, all of whom were fiduciaries to the health plan.

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Illuminating the Truth: Employee Benefits & Insurance Myths vs. Facts

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There’s a lot of insurance information out there, and sometimes it’s hard to separate fact from fiction. But as Jonathan Frakes, the host of the television show Beyond Belief: Fact or Fiction? always said, you must have a discerning eye to separate what is true from what is false. Read more

Additional Guidance Issued Regarding Contraceptive Care Coverage Mandate

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Amid reports that many health insurance plans continue to impose barriers to contraceptive coverage, The Departments of Labor, Health and Human Services, and Treasury (collectively, The Departments) have issued additional FAQ guidance addressing first-dollar coverage of contraceptives under the Affordable Care Act’s (ACA’s) preventive health services rules.  

Citing the Biden Administration’s clear desire to see that women have access to contraceptive care, these FAQs include a new therapeutic equivalence approach alternative for complying with the ACA’s contraceptive mandate. Read more

Knowledge Is Power: Key Takeaways about 2024 Health and Benefit Strategies

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As we step into 2024, it’s crucial to stay informed about the latest trends and strategies shaping our workplaces. We understand the delicate balance you maintain between nurturing your employees’ wellbeing and managing the practicalities of budgets and benefits.

So, we’ve combed through the Health & Benefit Strategies for 2024 survey report to break down the key takeaways, helping you stay ahead of the game while keeping your workforce happy and healthy. Read more

Prioritizing Soft Skills and the Human Touch in an AI-Focused Environment

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As we look towards a future intertwined with technology, it’s clear that human capabilities, particularly soft skills, retain their relevance in the workplace. Amidst the surge of AI, inherently human attributes—understanding, empathy, and the capacity to negotiate and lead with emotional intelligence—remain crucial for a well-rounded, effective team dynamic.

Creating an integration of AI and human interaction

The march of AI can’t overshadow the value of human soft skills. The human touch is irreplaceable in everyday interactions, whether it’s a team brainstorming session that thrives on diverse viewpoints or a client call requiring empathy and patience. 
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Level-Up Dialogues: Give a Boost to Team Ambition and Growth

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It’s a fact that employers cannot ignore: employee turnover is a fact of business, and the costs of replacing an employee are high. It’s estimated that replacing an employee costs 3 to 4 times that employee’s average annual salary. For example, if an employee’s average salary is $75,000, it will cost anywhere between $225,000 – $300,000 in hard and soft costs to replace them.

This figure often makes employers hesitant to discuss an employee’s career goals, fearing it might encourage them to seek opportunities elsewhere. However, avoiding these kinds of discussions is a mistake.

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Maximizing Employee Benefits: Strategies for Effective Communication

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Employers know employee benefits are important. 80% of employers think benefits increase productivity, and 78% think benefits increase loyalty. Employees want the total compensation package, which includes salary, company culture, and benefits. 

Since employee benefits are such a major investment, it’s crucial to have a plan in place that ensures employees are getting the most out of their benefits package. Read more

6 Employee Benefits Trends to Watch in 2024

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As we step into 2024, the world of employee benefits continues to evolve. Understanding employee benefits trends isn’t just about keeping up with the latest perks; it’s about delving into what shapes employees’ working lives and wellbeing, and also the willingness of employers to tackle the trends and offer the benefits their employees want and need.

Employee benefits trends are a barometer for broader societal changes and workforce expectations, and reflect changing attitudes towards work-life balance, health and wellness, and an inclusive and supportive work environment. Whether it’s an emphasis on financial wellness in times of economic uncertainty or wanting to make healthcare more accessible to all, each trend provides insights into the evolving needs of today’s workforce.

In 2022, employee benefits were all about overall wellbeing and wellness. In 2023, the focus shifted towards work-life balance and integration. As we start 2024, let’s look at the trends and what benefits you might consider offering. Read more