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2022 Personal Finance Year in Review

Money Talk

A court-challenged student loan forgiveness plan is undecided as of January 2023. Insurance- Auto insurance premiums increased due to increased cost of repairs (labor), replacement parts, and car rentals and life insurance sales increased amid COVID fears. Homeowners insurance premiums increased by 12.1%

Finance 244
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Fringe Benefits: A Guide to Understanding and Leveraging Employee Perks

HR Digest

According to a 2023 SHRM survey, 68% of employees prefer jobs with top-tier benefits over higher pay. Meanwhile, a nonprofit might lean on robust health insurance and student loan repayment assistance to compete with corporate salaries. The concept isnt new. These examples of extras arent just perks, theyre strategic levers.

401(k) 72
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South west London bus controllers at Transport UK accept pay rise

Employee Benefits

The increase is worth 12% and comprises an 8% rise backdated to January 2023 and a further 4% for this year. The bus controllers, who are members of trade union Unite, use technology to control the network and ensure buses run on time and avoid heavy traffic or accidents. Transport UK was contacted for comment prior to publication.

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Voluntary Benefits Demand Surges as Employees Seek to Defray Costs

InterWest Insurance Services

Sales of voluntary group benefits grew at a record pace in 2023 as more employers expand their offerings and demand continues booming as employees seek out benefits that can defray costs, according to new research. According to the report, in 2023: Group term life insurance premiums increased 10% from the 2022 level.

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Metro Bank offers support for employees going through separation

Employee Benefits

To show its support for employees going through separation, it signed up to the Positive Parenting Alliance’s HR Initiative when it was launched in January 2023. Metro Bank also recognises divorce and separation as a life event from a benefits perspective.

Banking 105
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Study Predicts 8% Group Health Plan Cost Increase for 2025

InterWest Insurance Services

A new study predicts that group health insurance costs will jump 8% in 2025, on par with what American employers have experienced this year and in 2023. Another analysis performed in early 2023 projects total savings from biosimilars to range from $125 billion to $237 billion between 2023 and 2027.

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Commissioner Orders Benchmark Workers’ Comp Rate Reduction

InterWest Insurance Services

A new study predicts that group health insurance costs will jump 8% in 2025, on par with what American employers have experienced this year and in 2023. Another analysis performed in early 2023 projects total savings from biosimilars to range from $125 billion to $237 billion between 2023 and 2027.