Employee Benefits

OCTOBER 6, 2023

The majority (85%) of organisations plan to enhance their benefits packages for employees, according to research by HR and employee benefits consulting services firm Gallagher. Voluntary benefits such as bikes-for-work schemes have increased to 75% from 73% in 2022, while gym memberships rose to 45% from 34%.

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Business Management Daily

SEPTEMBER 15, 2021

Offering an attractive employee benefits package helps lure top talent and encourages the retention of your best team members. Presenting a good employee benefits package often gives one employer an edge over another, especially in cases where basic salaries are relatively equal. There’s no one-size-fits-all answer.

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Higginbotham

MAY 4, 2023

Buying Supplemental Life Insurance Without a Medical Exam Although employees can purchase life insurance on their own, life insurance offered through an employer may be preferable because it is often available without a medical exam. When you offer supplemental life insurance as a voluntary benefit, your costs are minimal.

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Benefit Resource Inc.

JANUARY 7, 2021

As an employer, you want your benefits package to be a one-stop-shop for your employees. Not only will a comprehensive benefits package keep your current employees happy, but it will help you attract new talent. We’re here to let you in on a secret to help you kick your benefits up a notch. Fill in the gaps.

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Employee Benefits

FEBRUARY 15, 2023

The people we know are feeling the pinch are younger age groups and lower paid people, those people embarking on building careers, who don’t always have the most robust benefits anyway. appeared first on Employee Benefits.

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Employee Benefits

MAY 13, 2024

Employers should communicate with employees to understand what they need from a flexible benefits package. Benefits that are offered as part of a flex scheme need to add value. As employees’ needs can change throughout the year, more frequent benefits enrolment windows can provide greater flexibility and choice.

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Benefit Resource Inc.

MAY 15, 2024

Leveraging HSA funds can be a game-changer for organizations looking to improve benefits packages and encourage financial wellness among employees. Understanding the HSA Advantage HSAs are tax-advantaged savings accounts specifically designed to help individuals save for medical expenses.

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Flimp Communications

DECEMBER 19, 2019

When you stop and think about it, it’s not a big surprise that non-medical employee benefits keep employees happy. The bottom line for non-medical benefits is that they aid in both attracting and keeping talent. Some organizations provide tools to help employees understand complicated benefits packages.

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PeopleStrategy

SEPTEMBER 17, 2019

To overcome this challenge, you need to do everything you can to make your company stand out in ways that your competition simply can’t match; offering a comprehensive benefits package is one of the best ways to reach that goal. benefits are becoming an increasingly important factor for individuals evaluating job offers.

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InterWest Insurance Services

MARCH 14, 2024

Because of this, employers have to be crafty in how they set up their benefits packages so that they address these various needs. But don’t fret, getting something that everyone likes into your package is not too expensive, particularly if you are offering voluntary benefits to which you may or may not contribute as an employer.

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Benefit Resource Inc.

APRIL 4, 2024

As an employer or HR manager, you’re constantly seeking ways to enhance your employee benefits package, ensuring it not only attracts top talent but also supports their financial well-being throughout their careers and into retirement. One often-overlooked gem in the world of benefits is the Health Savings Account (HSA).

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HR Digest

MAY 29, 2023

These are some fringe benefits you generally must provide to your employees: Fringe benefits required by law The essential fringe benefits are intended to provide employees with medical care, help them in the event of job loss, and provide them with retirement income to sustain them during retirement.

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WEX Inc.

MAY 8, 2024

From the rising costs of healthcare and benefits packages to retaining and recruiting to helping employees understand their benefits to the ever-changing regulatory landscape, HR teams face many challenges that present obstacles to organizational success. It’s all about benefits choice and customization.

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Employee Benefits

JANUARY 20, 2023

Bupa Global and UK has launched a primary care health support package for its 15,000 frontline UK employees, working in Bupa care homes and dental practices. The MyHealthcare benefits package was launched as part of the health insurance provider’s global ambition to enhance health benefits for all of its employees.

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HR Digest

AUGUST 24, 2022

The most significant driver of prescription-drug spending is the rapid growth in the innovation, availability, and use of high-cost specialty medications over the last 10 years. Retain Talent with a Rich Pharmacy Benefits Package. The cost of doing so, however, can seem daunting.

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InterWest Insurance Services

DECEMBER 28, 2021

Most employers offer major medical coverage to their full-time employees. But that still leaves workers and their families with significant exposure to financial hardship in the event of a serious medical emergency. The worker can use this cash benefit for any purpose, including: Deductibles. Hospital indemnity insurance.

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CorpStrat

MARCH 21, 2024

Regular reviews enable businesses to stay informed about changes in the market and make informed decisions to optimize their Group Disability insurance benefits. – In conclusion, Group Disability insurance is a critical component of Employee Benefits, second only to medical insurance. The post Are You Actually Covered?

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HR Lineup

MAY 9, 2023

The platform is designed to help medical professionals and patients manage healthcare needs more efficiently, utilizing technology to improve the overall healthcare experience. Pazcare is dedicated to providing not only the best medical services to its clients but also to offering an exceptional employment package to its employees.

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InterWest Insurance Services

MARCH 22, 2022

One way you can give your staff more choice in the employee benefits they receive is to offer them a cafeteria plan, which allows them to put together a benefits package that works best for them. Employers fund these flexible benefit plans with funds that are deducted from their employees’ salaries on a pre-tax basis.

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InterWest Insurance Services

JANUARY 12, 2024

Examples Recently Amazon announced that as part of its employee benefits package it would offer the therapist-like app Twill. Often, the apps will include disclaimers that they are “not intended to be a medical, behavioral health or other health care service” or “not an FDA-cleared product.”

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InterWest Insurance Services

APRIL 20, 2023

Voluntary benefits enable employees to self-customize an individual benefits package that is uniquely appropriate to them. Look for gaps – Look for gaps in your company’s current benefits coverage, and consider how voluntary benefits plans can be used to fill them.

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Empuls

APRIL 22, 2024

  Beyond the paycheck: how employee benefit makes them happier  A competitive salary is essential to attract and retain top talent. Comprehensive employee benefit packages are increasingly becoming a deciding factor in job satisfaction and happiness.  This fosters a healthier work-life balance and reduces stress. 

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Wellable

JUNE 29, 2022

Health Savings Accounts (HSAs), which allow individuals to store and withdraw funds for certain qualified medical expenses, are frequently offered as part of an employer’s benefits package. According to one report , nearly 40% of companies offered an HSA-qualified health option in 2021.

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Money Talk

AUGUST 18, 2022

Also known as “fringe” (short for fringe benefits) or “perks.” employee benefits generally equal 25% to 50% of a worker’s gross pay. Thus, they are a key part of workers’ total compensation package. Purposes of employee benefits include: ¨ recruit and retain talented employees (e.g.,

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Employee Benefits

MARCH 14, 2024

Google has announced that it will expand its UK family-building benefits this year as part of its commitment to supporting its employees in important life moments. Within the next year, it will include elective egg freezing, adoption and surrogacy, as well as education and personalised support for navigating through options.

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InterWest Insurance Services

JULY 13, 2023

this year and at a faster clip in 2024 as inflation hits medical costs. ” At the same time the labor market is still very tight, requiring businesses to continue offering attractive pay and benefit packages. 39% offer a medical plan with no or a low deductible or cost-sharing (e.g., copay plan).

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Employee Benefits

MAY 29, 2023

However, benefits are an important aspect of any offering from an organisation, as good benefits can provide security, flexibility, and peace of mind, contributing to a more positive work experience overall. So what constitutes a good employee benefits package?

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Employee Benefits

FEBRUARY 1, 2024

The awards feature a wide variety of categories designed to enable organisations to showcase their excellence in all areas of reward and benefits. The 22 categories also include several designed to recognise the achievements of individuals within the industry.

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Benefit Resource Inc.

FEBRUARY 14, 2022

Here are the three reasons why you should love your benefits package! That’s why employers should be offering medical and health-related benefits. A Medical Flexible Spending Account (Medical FSA), Health Savings Account (HSA), or Health Reimbursement Account (HRA) are great places to start.

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InterWest Insurance Services

JULY 20, 2022

It always takes more time than usual to onboard new employees — particularly ones who are new to the workforce altogether — to your employee benefits plans. Indeed, a 2021 study found that 29% of Gen Z respondents are carrying medical debt.

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Employee Benefits

FEBRUARY 14, 2024

One thing for sure is that getting employees the medical help they need more quickly is essential, and this is where a Virtual GP and digital healthcare platform comes into its own. Businesses that embed Online GP into their employee benefits package often experience higher levels of employee engagement due to its popularity.

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Best Money Moves

MARCH 11, 2024

The study from Forbes Advisor shows that 67% of employees and 68% of employers believe healthcare to be the most important benefit. Healthcare benefits can be wide-ranging, but usually include some sort of insurance package that helps make medical costs more affordable for employees.

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Employee Benefits

OCTOBER 2, 2023

Seeking input from medical professionals and occupational health, and consulting fully with the employee are also good forms of support. Flexibility to allow the employee to attend medical appointments wherever possible, as well as signposting to an employee assistance programme, are also options,” Frost says.

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Higginbotham

MAY 11, 2023

However, simply providing a benefits package is not enough. In order to maximize the value of employee benefits, management must understand the components of the plan and create effective policies to find the right insurance fit, encourage employee participation, manage costs and comply with regulations.

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Higginbotham

JANUARY 12, 2024

Health accounts or arrangements are designed to cover the costs of eligible health care services, typically including medical , vision and dental expenses. These setups can often provide substantial tax benefits as well. Attracting Talent: A robust benefits package can help set your company apart from other employers.

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Benefit Resource Inc.

FEBRUARY 21, 2024

HSAs enable employees to save pre-tax dollars for qualified medical expenses, including deductibles, copayments, and other out-of-pocket costs. This triple tax benefit not only stretches employees’ healthcare dollars further but also serves as a valuable financial planning tool.

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HR Lineup

APRIL 11, 2023

Aetna International Aetna International is a global health and wellness benefits provider that offers a range of services to employers and individuals around the world. Their global benefits services include health insurance, wellness programs , and assistance with medical emergencies and evacuations.

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