Benefits

By Kathryn Mayer   Global health care costs are expected to rise by double digits for the third consecutive year, new data finds.   Insurers are projecting global medical costs to increase by 10.4% in 2025, matching this year’s hike, according to the WTW Global Medical Trends Survey. In North America, costs are projected to rise...

By Kathryn Mayer   The number of employers offering fertility and adoption benefits has jumped over the past couple of years and continues to rise, new data finds, as more employers look to offer inclusive—and costly—family-building support for a competitive edge. More than 4 in 10 U.S. employers (42%) now offer fertility benefits—up from 40% in...

By Allen Smith, J.D.   When health savings accounts (HSAs) took effect more than 20 years ago, some initially thought HSAs would not be used by rank-and-file employees and would be used only by executives. “That has not proven true,” said Chris Keller, an attorney with Groom Law Group in Washington, D.C. “Financially savvy employees...

Outsourcing benefits administration can offer several advantages for organizations:   Expertise: Benefit administration companies specialize in managing employee benefits. They have the expertise and resources to handle complex tasks efficiently, such as compliance with ever-changing regulations, navigating insurance requirements, and managing employee inquiries. Cost savings: Outsourcing benefits administration can often be more cost-effective than handling...

Outsourcing benefits administration can streamline operations, reduce costs, and improve employee satisfaction. Here’s a guide to help you understand how to effectively outsource benefits administration:   Section 1: Introduction   Definition of Benefits Administration Benefits administration encompasses the management of employee benefits programs, including health insurance, retirement plans, and other perks. Efficient administration is crucial...

Benefits administration plays a crucial role in the success of any business. By efficiently managing employee benefits, companies can improve workforce satisfaction, ensure compliance, and enhance overall operational efficiency. This article explores how benefits administration can significantly impact your business in various positive ways.   Enhancing Employee Satisfaction and Retention   Employee satisfaction is a...

Choosing People First, Inc. for benefits administration could be beneficial for several reasons:   Experience and Expertise: People First, Inc. may have a track record of providing comprehensive benefits administration services. Their experience and expertise in managing employee benefits can instill confidence in their ability to handle complex tasks efficiently.   Customization: They might offer...

By Kathy Gurchiek   Looking to attract younger workers to your organization? Pay attention to your retirement benefits. Nearly two-thirds (65 percent) of 2,518 undergraduate students surveyed said they wouldn’t accept a job that didn’t include an employer-administered 401(k) or similar benefit, according to a recent Handshake report.   Time off and health care coverage...

Benefits administration refers to the process of managing employee benefits offered by an organization. These benefits can include health insurance, retirement plans, paid time off, wellness programs, and various other perks provided to employees as part of their compensation package.   Benefits administration involves tasks such as enrollment, managing employee data related to benefits, ensuring...

When considering voluntary benefits for your employees, it’s important to assess the options carefully to ensure they meet the needs of your workforce while also aligning with your business objectives. Here are some key questions to ask:   Understanding the Benefits What types of voluntary benefits are available? Get an overview of the types of...