Practical HR Tips, News & Advice. Updated Daily.
Going beyond traditional healthcare offerings, Astellas, a pharmaceutical company based in Northbrook, Illinois, recently launched a benefits program for its almost 3,000 U.S. based employees that offers a culture of support for multigenerational family responsibilities.
A couple of phrases are making the rounds in retirement plan circles; perhaps you’ve heard them. They are “retirement readiness” and “independent fiduciary.” While they have different meanings, they are more connected than you may suspect. We spoke with Jason Chepenik of Chepenik Financial, who advises clients about their benefit programs and specializes in retirement […]
To most Americans, health insurance is confusing and just plain unenjoyable. Only 14% of U.S. workers can correctly define common insurance terms like deductible, copay, coinsurance and out-of-pocket maximum.1 Even if we were savvier about how health insurance works, we’re less than thrilled by the purchasing process: American consumers rate choosing health insurance as unenjoyable […]
By Nicole Mitchell Contractors often disclose the cost savings of self-insured plans with excitement, but buyer beware. Most contractors are surprised when I don’t immediately commend them on cost savings and instead ask them,“Did you know there are ’special‘ compliance requirements for self-insurance plans and failure to meet the compliance requirements makes the cost unallowable?” Most […]
The percentage of 401(k) plan participants borrowing from their retirement accounts has remained steady amid record levels of savings in the accounts, but one data point from Fidelity Investments’ latest quarterly analysis of the thousands of accounts it manages could be cause for concern. According to the retirement plan administrator for 13.5 million 401(k) participants, […]
Perhaps it goes without saying that an organization’s success is largely dependent on how well every employee performs. Yet many organizations struggle with maximizing employee performance while also keeping employee morale high and turnover low. Sound familiar?
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Insurers and plan sponsors soon will have to report to the government (and list on a web page) their policies on: out-of-network liability and balance billing; enrollee claim submission; claims and denials; recoupment of overpayments; medical necessity; prior authorization; drug exception timeframes; explanations of benefits; and coordination of benefits. Guidance HHS published on Aug. 12 […]
Yesterday’s Advisor presented expert Cory Bouck’s definition of “followership” and the roles a follower needs to fill in a dodgeball world. Today, Bouck shares the best career management advice he’s ever received, along with more skills necessary for good followership.
Who has the most influence on an employer’s 401(k) retirement plan investment menu — you as the plan sponsor? Participants? The company’s ERISA attorneys or investment committee? Chances are, it’s the plan’s mutual fund manager. A new study from two U.S. university business professors and an economist for the U.S. Federal Reserve concludes that fund […]