With the 2024 reference year RxDC reporting deadline approaching in June, plan sponsors should re-familiarize themselves with the reporting requirements. The 2024 reference year RxDC Reporting Instructions have been released, though there were no changes to the reporting requirements or data elements from last year. As a reminder, the Consolidated Appropriations Act, 2021 includes a...
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Employee benefits are at the core of attracting and retaining top talent for businesses of all sizes. From new compliance regulations to shifting workforce priorities, employers face challenges in designing effective benefits programs. To help you navigate these changes, we’ve asked our Employee Benefits team to share their insight into some of the most pressing...
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As businesses look for innovative ways to manage rising healthcare costs and offer competitive benefits, many are transitioning from fully insured health plans to self-funded models. Self-funding allows employers to take greater control over their benefits program, customize coverage, and potentially reduce expenses. However, this shift also comes with its share of challenges. If you’re...
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Human Capital Management (HCM) has transformed dramatically in recent years, driven by advancements in technology and automation. These innovations have revolutionized how organizations manage their workforce, streamline HR processes, and enhance employee experiences. From recruitment to performance management, today’s HCM solutions empower organizations to operate efficiently while meeting the needs of a dynamic and diverse...
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In a labor market defined by competition and choice, building a strong employer brand has become an important topic for businesses. It’s not just about attracting top talent; it’s about creating an environment where employees feel valued, supported, and inspired to thrive. Companies with compelling employer brands gain a significant competitive edge—they become magnets for...
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  On Monday, December 23, 2024, President Biden signed into law two bills, H.R. 3797 (the “Paperwork Reduction Act”)  and H.R. 3801 (the “Employer Reporting Improvement Act”),which will positively impact applicable large employers (“ALEs”) and other entities required to furnish forms 1095-B or 1095-C to individuals.   Background Under the Affordable Care Act, ALEs (i.e.,...
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Key Drivers of 2025 Healthcare Cost Increases Healthcare costs are climbing at an alarming rate, outpacing inflation and wage growth. According to PwC’s Health Research Institute, healthcare spending is projected to grow at a 7% annual rate by 2025—a figure that places significant financial pressure on individuals, employers, and the healthcare system as a whole....
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How AI is Shaping the Future of Workplace Mental Health Not long ago, addressing workplace stress, anxiety, or burnout often meant furtive calls from secluded offices or the apprehension of being stigmatized for seeking help. Fast forward to today, and the narrative is changing. Businesses are placing employee well-being front and center, and a significant...
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The modern workforce is a vibrant tapestry of generations, each with unique needs and priorities.  From Gen Z to Baby Boomers, employees value different things in their benefits packages. A one-size-fits-all approach to a benefits program is yesterday’s solution. Organizations must embrace a personalized approach to benefits design to stay competitive—and data analysis is the...
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Employee benefits are essential to attracting and retaining top talent for businesses of all sizes, especially for small businesses with limited resources. Many small employers often find themselves competing with larger organizations that can offer expansive benefits packages. However, small businesses have unique opportunities to stand out by crafting creative and personalized employee benefits strategies...
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