News and Trends on Healthcare, Health Insurance, and Employee Wellness.
Employee well-being refers to the overall state of workers’ physical, mental and emotional health, which can often be influenced by various workplace dynamics (e.g., workload, connections with co-workers and available resources). Although employee well-being is typically considered an HR-related matter, it’s also an enterprise risk that directly correlates with a wide range of key business objectives.
Read MoreAttracting and retaining employees has challenged employers since the onset of the COVID-19 pandemic. In 2024, the labor market is expected to cool slightly; however, competition for talent will remain. As such, employers must remain agile and adapt to developing labor and market trends that will shape the market in 2024. In particular, current labor challenges are forcing employers to find ways to balance rising health care costs and inflation while providing employees with benefits they value and need. Understanding this year’s key employee benefits trends can help employers attract and retain talented individuals in an evolving labor market.
This article discusses seven key employee benefits trends in 2024.
Read MoreAmid ongoing inflation pressures, employees and employers alike can expect their health care costs to increase in 2024. Global professional services firm Aon reported that health care costs for employers will grow by 8.5% in 2024 (to more than $15,000 per employee), nearly double 2023’s figure. In line with those findings, the Business Group on Health’s 2024 Large Employer Health Care Strategy Survey predicts a 6% increase in health care costs in 2024.
Read MoreEmployers are increasingly looking to consumer driven health plans to help soften the blow of continually rising health care costs. Depending on the model, consumer driven health plans typically include health savings accounts, health reimbursement arrangements and flexible spending accounts. This infographic provides a quick and easy comparison of tax-advantaged health care accounts.
Read MoreQuestion: One of our employees recently had a baby and has asked to enroll her newborn child in our health plan. Can this employee add other dependents (such as her spouse and/or other children) to our health plan at the same time?
