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Addressing Employee Financial Wellness in an Era of Extreme Financial Stress

Griffin Benefits

And that was before the coronavirus pandemic further complicated finances. The causes for this are numerous and varied, from insufficient savings (80%) and retirement funds (73%) to ballooning credit card balances (19%). Consider that 43% of employees spend time working on their personal finances while at work.

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7 Employee Benefit Trends that are Set to Dominate in 2024

Empuls

  Offer alternative healthcare plans , such as high-deductible health plans (HDHPs) paired with health savings accounts (HSAs).   These benefits go beyond traditional offerings and allow employees to tailor their perks based on their individual lifestyles and priorities.

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The Open Enrollment 2019 Season is Coming (But Don’t be Afraid)

Corporate Synergies

After reviewing benefits and trends, you may find that adding a pre-tax benefit, such as a health savings account (HSA), flexible spending account (FSA) or a health reimbursement account (HRA), can help the organization save money while giving employees a way to better plan their healthcare and finances.

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How to offer health insurance as a small business

Higginbotham

You can choose to pay all or part of the premium, and you can even offer some benefits, like pet insurance , on a voluntary basis so it’s available at an affordable group rate for employees to purchase if they are interested. Voluntary benefits can be offered with little to no out-of-pocket expense to the employer.

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4 Necessary Steps to a Successful Long-term Benefits Strategy

Corporate Synergies

A successful long-term benefits strategy seems akin to searching for the unattainable. It’s easier said than done, especially when many HR and Finance professionals have conflicting objectives. Finance, on the other hand, is charged with managing to a budget by controlling expenses to mitigate year-over-year increases.