Voluntary group life insurance is offered to employees as an optional benefit, and often employers will pay the small premium as an employee retention tool and to provide workers some peace of mind for their families. There are various avenues for funding these group...
The Inflation Reduction Act of 2022 (IRA) included several cost-reduction and benefit-enhancement provisions affecting Medicare Part D plans. The most significant Medicare Part D-related provision that impacts employer-sponsored group health plans is that the annual...
As the cost of prescription drugs continues growing and pricey new pharmaceuticals add to health plans' cost burdens, some carriers are starting to reduce the number of medications they'll cover and are imposing new barriers to accessing the most expensive ones....
Health plan increases reflect the costs borne by health insurers, which are seeing more claims for care that was postponed during the COVID-19 pandemic and a steady rise in the cost of pharmaceuticals as more innovative and effective drugs come to market, according to...
According to a study by the Substance Abuse and Mental Health Services Administration, 10% of America's workers are dependent on one substance or another. The nation is still battling the biggest drug scourge: opioid and fentanyl. Provisional data from CDC's National...
Every year employees across the country choose the wrong group health plan from their employer because they don't understand the coverage and what type of plan is best for their circumstances. This ends up costing them hundreds if not thousands of dollars in...
Sales of voluntary group benefits grew at a record pace in 2023 as more employers expand their offerings and demand continues booming as employees seek out benefits that can defray costs, according to new research. Premiums collected for employer-sponsored voluntary...
The Department of Labor's new fiduciary rule, which mainly applies to 401(k) plans, will also affect employers who offer their staff health savings accounts. The new rule, which takes effect September 2024, bars employers from providing advice to their workers on how...
While the number of U.S. workers choosing high-deductible health plans has leveled off during the last two years, uptake has been growing rapidly among one segment of the working population: Gen Z employees. The 2024 "State of Employee Benefits Report" by benefits...
There are several compliance obligations that employers need to complete throughout the year. The attached compliance summary focuses on key benefit program compliance requirements for the third calendar quarter of 2024. Please note that this summary includes general,...
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(616) 344-6606
148 S River Ave Ste 300, Holland, MI 49423
(616) 344-6606
148 S River Ave Ste 300, Holland, MI 49423