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Worker Enrollment in HDHPs falls

InterWest Insurance Services

After enrollment in high-deductible health plans soared during the last decade, 2022 marked the first year that enrollment in these plans fell among American workers since 2013, according to a new report by ValuePenguin. ” And 10% of employers with 500 or more workers offered only these plans, compared to 13% in 2018.

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Worker Enrollment in HDHPs Falls

InterWest Insurance Services

After enrollment in high-deductible health plans soared during the last decade, 2022 marked the first year that enrollment in these plans fell among American workers since 2013, according to a new report by ValuePenguin. ” And 10% of employers with 500 or more workers offered only these plans, compared to 13% in 2018.

401(k) 96
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Why Financial Wellness Is a Must-Have Employee Benefit

Best Money Moves

The demand for financial wellness programs has never been higher and employers are ready to help. Employers are getting serious about financial wellness. Over 80 percent of employers agree that financial wellness programs and tools help to create more productive, loyal, satisfied and engaged employees.

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Employee Benefits Success is All About Communication

Best Money Moves

A third of compensation costs go towards employee benefits and some employees would forgo a raise for better work-life balance or better healthcare benefits, but almost half of employees don’t even understand the benefits their employer already offers.

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10 Rules for Employee Retention Your Competition Will Hate

Insperity

This could include investments, such as stock options and 401(k) retirement plans. Some employers see job title changes as a cost-efficient way to retain employees and boost morale. Not all employers take advantage of exit interviews. These simple gestures can help you win your employees loyalty. Avoid new job titles.

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Quick Shots for HR and Business Pros – #myRA #Retirement Edition

HR Bartender

Additionally, a 2013 report by the National Institute on Retirement Savings found that the average near-retirement household had only $12,000 in planned savings. Among workers who do not participate in a 401(k) or other defined contribution plan, 42 percent say it’s because their employer does not offer one.

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Sponsoring a Retirement Plan: Tax Benefits You Should Know About

Insperity

If you establish a new 401(k) plan and have not maintained another plan within the three preceding years, your business may be eligible for an income tax credit of 50 percent of the qualified startup costs to create and maintain the plan. Deduct your employer contributions. Receive an income tax credit.