Blog
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HSAs Made Easy: Learn the Essentials & Protect Your Savings from Mistakes
Health savings accounts (HSAs) have become a vital part of many employers’ benefits packages, offering employees a powerful tool to manage healthcare expenses while benefiting from tax advantages. However, managing HSAs goes beyond just facilitating contributions. It also involves understanding and addressing mistakes with distributions that employees might encounter. This article delves into the basics…
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PCORI Fee Filing Deadline
The Patient-Centered Outcomes Research Trust Fund fee, often referred to as the PCORI fee, can be a source of confusion for employers offering health insurance plans. This article aims to simplify what the PCORI fee is, why it exists, and how it impacts your business. What is the PCORI Fee? The PCORI fee is an…
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Benefits 101: What Is an HDHP?
In today’s world of complex health insurance options, High Deductible Health Plans (HDHPs) have become increasingly popular. But with a name like “high deductible,” it’s natural to have questions. Let’s break down the basics of HDHPs: What is an HDHP? An HDHP is a health insurance plan with a higher deductible than traditional plans. This…
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Investing in Health Prevention and Wellness: A Smart Bet
The old adage “an ounce of prevention is worth a pound of cure” rings truer than ever in today’s world. While reactive healthcare plays a crucial role in treating illness, a growing emphasis is being placed on the power of health prevention and wellness. Investing in preventive measures and promoting overall well-being isn’t just about…
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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
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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…
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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…
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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…
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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…
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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…