‘SHOP’ Small Business Exchange Pared Back Further
Employers who purchase small group coverage won’t be able to buy plans online through a federal SHOP exchange until November 2014, Health and Human Services announced.
Growth in Voluntary Benefits Expected in 2014
A larger menu of benefits for employees to choose from means more responsibility for employers.
Robust Benefits Still Provide a Competitive Edge
Employers that offer a strong benefits package should find themselves with a competitive advantage over other companies when it comes to attracting and retaining desirable employees.
Health Benefit Costs Could Jump in 2014
Employers expect their cost growth rate for health coverage will rebound in 2014 to 5.2 percent with plan design changes; if they made no changes to their current plans, they estimate their costs would rise by 8 percent.
Revisiting 401(k) Fees in a Post-Disclosure World
Employers have new opportunities to look closely at their existing 401(k) fee structures. Plan sponsors should review not just pricing levels but the overall pricing methodology.
New Focus on Cancer Prevention and Care
Employers are redesigning prevention efforts and coverage options as a result of a major initiative to battle cancer in the workplace.
Remind FSA Users to Mind Their Balances
Amid confusion over changes to the use-or-lose rule, HR should remind employees with flexible spending accounts (FSAs) to determine whether they need to spend unused funds before the end of the year.