Author: Central Penn Benefits Admin
-
Form 5500: What You Need To Know
Attention Employers: Don’t Miss Your Form 5500 Deadline! Here’s a simplified breakdown of what you need to know about filing your employee benefit plan report: Who Needs to File? What to File? When to File? Exemptions: Filing Electronically: Late Filings? Penalties: Visit IRS.gov for more information
-
Empowering Baby Boomers: Building a Competitive Benefits Package
A Baby Boomer is someone born between 1946 and 1964. This generation is currently between 58 and 78 years old (in 2024). They tend to have a strong, loyal work ethic and excel at face-to-face communication and building relationships with colleagues. Boomers have a wealth of experience accumulated over long careers. They value jobs that…
-
Protect Your Mental Health with an EAP
Mental health isn’t just the absence of illness. It’s a continuum ranging from severe symptoms such as panic attacks and major depression to excellent mental strength and well-being. Sometimes you’re not ill, but you aren’t well either – and you need help. If you’re feeling down about work or a problem in your life and…
-
Benefits 101: What Is Voluntary Life Insurance?
Life Insurance at Work: Your Guide to Voluntary Coverage We all juggle life’s different responsibilities, and ensuring our loved ones are financially secure in case of our passing should be a top priority. Life insurance offers a safety net but typically the amount of coverage included as a standard company-paid life insurance policy isn’t enough…
-
Navigating the Future of HR: Leveraging LLMs for Advanced Skills Management
In our journey through the evolving landscape of the skills-first economy, we have uncovered the pivotal role of skills in shaping the future of work. Our initial article, “Adapting to the Skills-First Economy: An Introduction,” laid the groundwork by emphasizing the significance of a skills-based organization (SBO) and the transformative power of skills taxonomies. We…
-
Health Insurance Basics: Insurance Costs
Insurance Costs Consumers typically pay the following types of costs when they have insurance. See Appendix A for examples of how cost sharing works. Tips to Know: Appendix A Examples of Health Insurance Cost Sharing This appendix provides some examples of how health insurance cost sharing works for consumers. These examples show different outcomes depending…
-
Benefits 101: What Is Hospital Indemnity Insurance?
No matter whether it is anticipated or unexpected, a hospital stay is expensive. According to HealthCare.gov, the average 3-day hospital stay in the United States costs around $30,000. Health insurance will cover some of the costs if you are admitted to the hospital, but you may have other out-of-pocket costs. Hospital Indemnity Insurance can help…
-
8 Unique Employee Perks That Don’t Require a Big Budget
Free and low-cost employee benefits are perks that don’t cost you much financially. These perks are often simple to provide and help enhance an existing employee benefits package. Including non-traditional benefits in a job offer shows employees your values; they’re a promise to both current and potential employees that you’ll support them and treat them…
-
Benefits 101: Embedded vs. Non-Embedded Deductibles
Everyone needs health insurance but many people don’t fully understand it. One important concept to understand is your deductible. A deductible is the amount of money that must be paid for covered services before the health insurance company begins paying for expenses. For an individual plan, the deductible is straightforward. But family plans are a…
-
Exceptional & Extraordinary Employees – Don’t Burn Them Out
Are HR professionals relying so much on top talent that they risk increasing the odds that they burnout? Every organization has employees who stand out for one reason or another. They often include your superstars or high achievers. Managers will often turn to these exceptional employees when there’s a special project or deliverable to be…