3 Tips for Employee Enrollment Solutions After a Merger or Acquisition

Winston Benefits

Mergers and acquisitions can cause a lot of disruption in the employee population. While everyone involved is looking at merging operations and culture, things like employee benefits communication can get lost in the mix. Ensuring that employees understand the benefits enrollment and administration process can play a big role in the success of a merger, as a unified approach can help reinforce the culture and boost engagement throughout the new employee population.

Mid-Year Changes and How it Affects HSA Contribution Limits | BerniePortal

BerniePortal

If an employee enrolls in a high-deductible health plan (HDHP) mid-year, how does that affect the amount they can contribute to their health savings account (HSA)? Changing life events in the middle of the year usually means changes to your health insurance plan.

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Study: Incentive-Based Wellness Program Results In Lower Health Costs, Better Health Habits

Wellable

A recent study of employees enrolled in an incentive-based wellness program revealed cost savings to both the employees and their employer as well as improvement in other health measurements. Facts and Research

Employee Spotlight – Talking HRally® Evolution with Lead Implementation Analyst, Brianna Coulson

Winston Benefits

Brianna: The employee enrollment experience has been one of the most important improvements Winston makes … Continue reading "Employee Spotlight – Talking HRally ® Evolution with Lead Implementation Analyst, Brianna Coulson". The post Employee Spotlight – Talking HRally<sup>®</sup> Evolution with Lead Implementation Analyst, Brianna Coulson appeared first on Winston Benefits.

Active vs. Passive Enrollment: Which Should HR Prefer? | BerniePortal

BerniePortal

Open enrollment is approaching, which means it's time for HR to begin thinking about strategy—and that strategy needs to include more than just the benefits you're offering. Administrators must consider how to get their employees enrolled in the available benefits. Among these approaches are passive enrollment and active enrollment. Considering each is key to successfully preparing for open enrollment.

The Open Enrollment Changes You Can Expect in 2020

Winston Benefits

With open enrollment (Nov. 15) fast approaching, it’s not too early to consider some of the changes that may affect your employeesenrollment experiences. Benefits legislation is constantly in flux, but if you’re prepared, you’ll know what to expect from the 2020 open enrollment process. open enrollment open enrollment changes1 through Dec.

Ask an Expert: Is There a 30-Day Grace Period to Make Changes to Elections in Cafeteria Plans?

InterWest Insurance Services

Q: We have an employee who wants to make changes to her cafeteria plan election, even though benefits are already effective. While most insurance carriers and cafeteria plan benefit vendors allow for changes to employee pre-tax elections in cafeteria plans within 30 days, the IRS does not.

Estimated Time on HR: Benefits Administration Tasks

Stratus.HR

Offering competitive benefits is a great way to attract and retain key employees. Beyond the initial setup of benefits and open enrollment tasks , there are multiple benefits administration tasks that will keep you busy.

How to Coax Disengaged Employees to Sign Up for Health Coverage

InterWest Insurance Services

One of the most difficult aspects of annual open enrollment is reaching workers who are disengaged from the process and never bother signing up for your group health plan and other benefits they could take advantage of. Investors — This group of employees are also savers.

Estimated Time on HR: Procuring Benefit Plans and Open Enrollment Administration Tasks

Stratus.HR

Open enrollment is the annual time for employees to make benefit election changes for the upcoming year. But before open enrollment can happen, you will need to spend some time procuring the right plan(s) for your company’s HR (human resources) strategy. .

Broker Compensation Disclosure Rule: New Legislation for Brokers

Total Employee Benefits

If your Health & Welfare Plan has over 100 employees enrolled in any single benefit, you are already required to file an IRS Form 5500 where both direct and indirect compensation is already disclosed.

Employers Curtail Health Cost-Shifting to Workers

InterWest Insurance Services

One of the health insurance trends that went largely unnoticed in 2021 was that employers halted cost-shifting to their employees by reducing or holding steady workers’ deductibles and other cost-sharing. Firms are also tapping into ways to control drug costs for their employees.

What Is Group Insurance Coverage and How Does It Work?

Fringe Benefit Analysts

Employers who do not offer coverage can have a more difficult time attracting recruits and retaining employees. Businesses often work with insurance brokers to find the plan that best fits the majority of needs for their employees. How To Enroll. Benefits for Employees.

Why “high deductible” shouldn’t be treated like a dirty word

Benefit Resource Inc.

The term “high deductible health plan” has often carried with it a negative connotation for employees. According to a recent article from SHRM covering research from the Employees Benefit Research Institute (EBRI), enrollment in an HDHP promotes more conscious health care purchase decisions. For example, 55% of employees enrolled in an HDHP checked whether their health plan would cover their care or medication. Encouraging HSA enrollment.

Look Before You Leap: Payroll-Ben Admin Tech API Considerations

HR Professionals Magazine

That fee can vary based on many factors and may come in the form of a one-time “setup charge”, a PEPM (per employee per month) or a flat, recurring monthly fee. This means if you change an employee from hourly to salary in the ben admin platform, the payroll system would not be updated.

Additional Cafeteria Plan Changes in Effect January 1, 2023: IRS Notice 2022-41 and Family Coverage Affordability

AssuredPartners

125 Plan (other than a Flexible Spending Arrangement (FSA)) are permitted to revoke or modify an existing election for family coverage during a plan year in order for one or more family members to enroll in a Qualified Health Plan (QHP) through a Health Insurance Exchange on the individual market.

Ready for a Great Open Enrollment?

Benefit Resource Inc.

We’ve put together an Open Enrollment timeline in hopes of making the rest of your year just a little less stressful. A solid employee benefits package is crucial for recruiting and retention and has become even more important in the current market — Open Enrollment plays a big part in that. Check out our Open Enrollment Checklist, and make sure you’re still on target for a successful start to your new plan year: Laying the Foundation.

2022 Health Insurance Outlook, Changes

InterWest Insurance Services

As we enter 2022, there are a number of changes on the horizon that plan sponsors need to be aware of as they will affect group health plans as well as employees enrolled in those plans.

Executive benefit reimbursement plans

Higginbotham

Your executive-level employees expect solid compensation and a robust executive benefits plan. In the simplest terms, a medical expense reimbursement plan refunds employees for covered medical costs. Make sure employees know about the plan and remind them to use their benefits.

Preparing for Virtual Open Enrollment in 2020

Best Money Moves

Preparing for virtual open enrollment in 2020. How employers can utilize employee data and streamline communications for successful virtual open enrollment. Preparing for Virtual Open Enrollment in 2020. Utilizing Employee Data and Streamlining Communications.

Do you need to make benefit changes because of COVID-19?

Benefit Resource Inc.

This includes employees’ work benefits, particularly pre-tax accounts. For employees with an HSA, Dependent Care FSA, and/or commuter plan, there may be the opportunity to make changes to their accounts. Here are the main updates employees should know about. Money savvy employees enrolled in these accounts are probably aware that one of the benefits of the account (apart from the tax savings) is the ability to make election changes throughout the year.

Taxes 63

The Role of Benefits Decision Support in the New Normal

Flimp Communications

Benefits decision support has come a long way since employees had to fill out endless forms while reading nearly inscrutable jargon explaining what their benefit options were. Health insurance is still difficult for employees to understand and use efficiently.

How Winston Benefits’ Benefits Administration Technology Helped Update Benefits Communication and Streamline Enrollment for a Food Manufacturer

Winston Benefits

During open enrollment we handled 2,575 calls, averaging more than 12 minutes a call, saving HR employees 66 work service days. We’re looking forward to working further with the company to develop new vendor interfaces that can help employees track wellness initiatives, as well as other features. Improved Employee Communications. Understanding benefits is key to employee satisfaction and participation. More Engagement During Enrollment.

What will commuting after COVID-19 look like?

Benefit Resource Inc.

Many have started the process of commuting after COVID-19, leaving employees and employers alike wondering how the transition will unfold. Only available to individuals enrolled in a tax free parking account with BRI. ** Only available to employees enrolled in a tax free mass transit or parking account with BRI. During the change, certain trends have emerged including a focus on reducing contact with shared items. Minimize contact with shared public surfaces.

Taxes 40

Penalties take effect for DC Transit Ordinance

Benefit Resource Inc.

Under the Sustainable DC Act of 2014, employers with more than 20 employees (including full and part-time employees) will be required to provide one of three commuter benefit options, including: Employee-paid pre-tax benefit. Notify employees of the benefit. Employers must notify covered employees of the commuter benefits offering, including how to obtain additional information regarding the benefits. Explain how to enroll. Tick Tock. Tick Tock.

On-site, fully remote, or hybrid? 3 things you must consider before deciding.

Business Management Daily

While many companies may be ready to move quickly back to a fully on-site workforce, and others are exploring hybrid or fully remote options, employees have their own expectations and are willing to look for a new position if they aren’t met. Trusting employees to get work done.

IRS Proposal Extending Deadlines for ACA Reports to Individuals

Proskauer's Employee Benefits & Executive Compensa

Specifically, proposed regulations would make permanent an automatic 30-day extension for issuing Forms 1095-B and 1095-C to covered individuals and employees, which would otherwise be due by January 31.

EEOC Considers Limits on Employee Wellness Programs

Abel HR

On December 7, the EEOC released a set of proposed rules seeking to limit the value of rewards that employees can earn for participating in any program that tracks their health data. The post EEOC Considers Limits on Employee Wellness Programs appeared first on Abel HR.

How Employee Training Videos Can Help During Open Enrollment

Flimp Communications

The open enrollment landscape has changed dramatically thanks to video communications technology like employee training videos. You might think of training videos as only making sense for new employees’ onboarding experiences or other training sessions. But this technology can help your enrollment sign-up and engagement numbers during the crunch time of open enrollment. Happy employees enrolled in optimal benefits packages save money and boost engagement.

FSA eligible expenses — what purchases count?

Business Management Daily

Open enrollment is underway for many companies right now and one benefits offering that may be on the menu this year is an FSA. Flexible Spending Accounts allow employees to set aside pre-tax dollars from their paycheck to use for medical or dependent care expenses.

Do More With Less in Your HR Department

Benefit Resource Inc.

However, it highlights the need to use multiple communication channels – especially when it comes to Open Enrollment. We conducted a survey earlier this year to evaluate how employers planned to communicate during Open Enrollment. GAMIFICATION Drive employee engagement during Open Enrollment with gamification using popular gaming or survey platforms. Recruitment -> Employee Retention. What do your employees want out of this job?

How to contain employee benefits costs (and why most businesses struggle)

Insperity

There’s no getting around it – employers pay a hefty sum to provide health care benefits for their employees. per hour, per employee, for health-insurance costs, according to Sept. That presents business leaders an ever-present challenge: how to contain the cost of employee benefits.

FSAs, HSAs, HRAs: What employers need to understand

Business Management Daily

You can blame the pandemic — employees are more attuned to health benefits, which means more employees may switch health plans or go into a health plan for the first time next year. You need to know how these accounts differ so you can communicate about them to employees.

The Real Key To Talent Development Is Authentic Caring

15Five

Learn how to create a mindset shift for yourself and your employees. Enroll in the Best-Self Academy! Everyone must take responsibility for their own evolution. This is the challenge that coaches, managers, and leaders regularly face around the people who they lead.

FSA receipt requirements: What you need to document

Business Management Daily

They are a great add-on to a business’ employee benefits package and help employees pay for the expenses that they need to stay healthy and care for their loved ones. Reimbursement for FSA expenses from an employee’s personal accounts is typically provided through direct deposit.