Much has been written about how Americans save and how about half do not save for retirement; however, highly compensated employees are often overlooked in this discussion because the assumption is that they will be simply fine—thank you very much. While high-income earners have more discretionary income to save, they typically have the same goals…
Workplace benefits trends continually transform as organizations strive to meet the evolving needs of their workforce while navigating an increasingly complex business landscape. By embracing trends like Artificial Intelligence (AI), enhanced mental health initiatives, and innovative health and financial benefits, companies can stay competitive while providing meaningful employee support. This article delves into the major…
The Internal Revenue Service (IRS) recently announced that California wildfire victims are now eligible for tax relief, including deadline extensions. The full details of this announcement are available here. This is good news for all Californians who have been significantly affected by the wildfires that began on January 7, 2025. The IRS has extended various…
In a move toward enhancing healthcare accessibility, the IRS has released Notice 2024-75, expanding the list of preventative care coverage allowed under high deductible health plans (HDHPs). This update allows certain preventative care services and products to be provided without a deductible or with a deductible below the minimum required for HDHPs. This change aims…
Consolidation of benefits under one benefits administration solution is a growing trend Navigating the complex landscape of a benefits administration solution can be daunting for even the most seasoned HR professionals. In an era where employee retention and satisfaction are paramount, having a robust benefits administration solution is no longer a luxury but a necessity….
The IRS has announced the 2025 cost-of-living adjustments (COLA) for various tax-advantaged accounts, including Flexible Spending Accounts (FSAs). This blog post will walk you through the key changes and their implications. Here’s a quick summary of the 2025 limits for Health & Welfare Benefit Plans that have been impacted with this release: Check out our…
Do Health Savings Account (HSA) providers have the secret weapon for cost-effective employee benefits? In today’s rapidly evolving marketplace, where every dollar counts, companies face the perpetual challenge of managing healthcare costs while still offering competitive benefits packages. Enter the Health Savings Account (HSA)—a financial tool that promises not only to save companies money on…