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Health Insurance Associate (HIA) The Health Insurance Associate (HIA) certification is offered by America’s Health Insurance Plans (AHIP). It focuses on the fundamentals of health insurance, making it highly relevant for benefits professionals responsible for health and wellness programs.
In today's competitive labor market, employee benefits are more important than ever. According to our 2024 Employee Benefits Survey , 81% of employees consider an employer’s benefitspackage as an important factor in whether they accept a job. Health insurance consistently ranks as the top benefit employers can offer.
Offering a comprehensive benefitspackage with health insurance is critical to having engaged and satisfied employees. Plan types, health insurance providers, policy costs, and regulations vary by state. But if your team includes some of the 22 million U.S.
Better Benefits : Enhanced benefitspackages, including health insurance, retirement plans, paid time off, and other perks, are commonly used to lure employees. Better Benefits: Enhanced benefitspackages, including superior health insurance, retirement plans, and additional perks, can lure employees away.
Audits are how insurance rates are determined, and it’s possible that an audit will uncover information that can actually save you money — or not if you’ve hired additional staff and haven’t notified your insurer. Ensure that contractors have their own insurance.
Inadequate Compensation and Benefits Fair compensation is a basic expectation in any job, and when employees feel underpaid for their efforts, resentment can build quickly. Beyond salaries, inadequate benefits like health insurance, paid time off, and retirement plans also contribute to dissatisfaction.
Need to know: Employers want to provide private medical insurance (PMI), even if it means reducing cover. More want to offer at least a measure of benefit to the whole workforce. Private medical insurance (PMI), which covers curable short-term medical conditions, has never been more popular in the workplace.
Competitive compensation and Benefits: Regularly reviewing salaries, providing comprehensive benefitspackages , and offering perks such as health insurance, retirement plans, and stock options demonstrate the company’s commitment to employee well-being and financial security.
A strong employee benefitpackage can go a long way. Employer benefitspackage is key to attracting and retaining top talent. Employee benefits have become an essential part of any competitive compensation package. Employee benefits have become an essential part of any competitive compensation package.
When it comes to employee benefits, if your business can offer it, employees want it. That’s the case for any employee benefit, from time off to healthcare to flexible work arrangements to workers’ comp insurance. Naturally, most businesses can’t afford the king suite of benefits—unlimited PTO, free insurance, etc.
A robust benefitspackage that includes health coverage is an important recruiting tool for every employer. However, soaring medical costs can make offering health benefits challenging for small business owners with limited budgets.
Employer-sponsored life insurance comes as a well-intentioned perk for loyal employees. Getting covered through work is a less expensive way to protect your family, especially when you need life insurance but haven’t shopped around for one yet. On the […].
Shaped by changing work environments, economic pressures, and technological advancements, the following trends are emerging as essential components of a competitive benefitspackage. Personalized benefitspackages Today’s employees want benefits unique to their circumstances and lifestyles.
This is where having a well-structured benefitspackage can be invaluable for businesses. Know What Your Ideal Job Candidate Is Looking For Before you can begin structuring an optimal benefitspackage, you’ll want to spend the time understanding exactly what your ideal job candidate is looking for.
Almost six in 10 (59%) British workers feel unhappy, dissatisfied, highly dissatisfied or neutral with their benefitspackages , according to new research. They should take steps to keep people engaged, supported and happy; offering benefits that are meaningful to the individual’s specific situation will help here.
As open enrollment season approaches, most companies are looking to enhance their benefitspackages without breaking the bank. Voluntary benefits offer an excellent solution, providing added value to employees, at little to no cost for employers. Ask your CorpStrat representative about voluntary benefits for your team.
Benefits Administration: Offering competitive benefits such as health insurance, retirement plans, paid time off, and wellness programs. Compensation and Benefits Administration Software Compensation and benefits management is a complex and time-sensitive aspect of the HTR process, but technology can simplify these tasks.
There are many ways companies can handle skyrocketing health insurance costs while maintaining competitive benefitspackages such as considering copayment and deductibles, encouraging preventative care, or removing overpriced providers from their provider lists. The post How Can Companies Contain Health Insurance Costs?
It's essential to recognize the value of offering dental insurance to your employees. Following health benefits, it's the most desired employee benefit you can offer. According to our 2024 Employee Benefits Survey, 91% of employees rated dental insurance as important.
Its benefits offering for UK-based employees includes the SumUp corporate pension scheme, private medical insurance and life insurance cover, which it primarily markets towards its older staff. The post SumUp ensures it offers an age-inclusive benefitspackage appeared first on Employee Benefits.
As an employer, providing a robust employee benefitspackage is only half the battle. Educating on the value of their benefits and how best to use them is equally important. One of the questions we asked: What benefit would you like to learn more about? We recently surveyed nearly 60,000 of our participants.
One of these benefits is the provision of employee benefits. Employee benefits are non-wage compensations that are provided by employers to their employees, which may include health insurance, retirement plans, and vacation time. One of the things that sets Aetna International apart is their focus on innovation.
That requires clinical coordination between clinicians, pharmacy benefit managers and insurers. increase in health insurance costs, even after implementing cost-reduction measures. Employers are also increasingly covering in vitro fertilization. 70% of organizations with more than 20,000 employees, up from 47%.
Voluntary benefits include a variety of options, all designed to enhance your overall well-being and provide financial security. Here are some prime examples: Supplemental life insurance : This benefit allows you to bolster your life insurance coverage, ensuring your loved ones are well taken care of in case of the unexpected.
Providing affordable health insurance to employees can boost your benefitspackage and help you recruit qualified full- and part-time workers. Our Employee Benefits Survey found that 92% of employees believe health benefits are important perks to have.
At its core, the fringe benefits meaning refers to any compensation provided to employees beyond their regular wages or salaries. These perks, often discretionary, supplement an employees paycheck and can range from health insurance to gym memberships, company cars to childcare assistance. Compliance is non-negotiable.
A robust benefitspackage with a comprehensive health benefit is essential for attracting and retaining top talent in today’s workforce. But if you’re offering health benefits for the first time, figuring out where to start can be overwhelming. But what is the difference between them, and how do they compare?
Private medical insurance (PMI) has become the most important perk that employees look for in their benefitspackage, according to new research by Zest. Employers need to take note of this demand and look at how they can adapt their benefits offer to meet the current needs of employees, if they are to attract and retain talent.”
For example, even with insurance, treating a broken leg or undergoing emergency appendicitis surgery can mean thousands of dollars in out-of-pocket medical costs. Fortunately, employers can help by offering their workers voluntary hospital indemnity insurance that can provide peace of mind in case they have a serious medical episode.
Acting as an intermediary between employers and insurance providers, benefit brokers help design, implement and manage employee benefits programs. Talk to an Employee Benefits Broker What is a benefits broker? How can a benefit broker support your organization?
ADP offers benefits advisory services to help management make the best decisions about what benefitspackage to offer employees. As a leader in the field, Paychex Inc provides solutions for benefits, payroll, human resources, and insurance services. Patriot Software.
With so many people making pets a new and important part of their family, should employers consider offering pet insurance in their benefitspackage? The quickly-approaching holidays are another occasion during which furry family members are adopted and given as gifts.
HR professionals are responsible for managing employee benefits programs, such as health insurance, retirement plans , and paid time off. They ensure that employees understand their benefits and can take advantage of them. They ensure that employees understand their benefits and can take advantage of them.
Companies must rethink their benefitspackage in the new environment. With the budgets restricted in these tight economic times, startups need to be more creative in the kind of benefits they offer. Especially health benefits need to be rethought. And in corona times, employees are looking for more wide coverage.
Participate in Industry Events: Competitive compensation and benefitspackages are critical in attracting top talent. HR professionals can ensure their offerings are attractive by: Conducting regular market research to understand industry salary standards and benefits trends.
Here are 3 practical ways to start: Offer a generous and unique benefitpackage. In today’s employment market, individuals are also placing a high value on the benefits an employer offers. Competitive wages will always be an important factor in retaining high-quality employees.
Open enrollment is the period of time in which your employees can make changes to their insurance coverage. It’s a perfect opportunity for employers to maximize benefitspackages and save on premiums, but it isn’t always easy. Offer calculators, intranet education information, or benefits fairs. Offer Options.
Besides health insurance and a 401(k) plan, other benefits that employees value highly are generous paid time off and flexible or remote work, according to a new survey. “A multi-generational workforce is a huge benefit for companies,” said Liz Ahmed, executive vice president of People and Communications at Unum.
If your company provides Employee Benefits, there’s a good chance you’re enrolled in a Group Disability Insurance plan. At CorpStrat, we’ve been in business for over three decades and have designed benefit programs for numerous companies from every industry under the sun. The post Are You Actually Covered?
As the year winds down, employers have a crucial opportunity to fine-tune their employee benefits strategy. Open enrollment is wrapping up, and now is the time to ensure your benefitspackage is ready to meet employee needs and support your 2025 business goals.
Health insurance is often the biggest-ticket item in any company’s benefitspackage, and the cost of health insurance rises on average each year , historically. Companies spend a lot of money, time and effort to make their benefits competitive and provide quality group health insurance plans to employees.
What do you think of when employee benefits are mentioned? Traditional offerings like health insurance and retirement plans are likely the first things that come to mind. Organizations often fail to go beyond these standard benefits, and if they do, it’s with a few additions that are selected without much thought and seldom improved.
Pay rises also mean National Insurance (NI) and other payroll costs going up, at a time when margins are already being squeezed. So for us, it’s about the whole package, and holistically supporting our team, rewarding them both by paying well, and also thinking about the wider aspects of their life.”
Employees increasingly value a comprehensive benefitspackage that contributes to their financial well-being and overall work experience. This article explores the benefits of TCRSs, highlights key considerations for crafting meaningful reports, and offers a sample statement for your reference.
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