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When it comes to 2025 employeebenefits trends , many companies are seeking innovative solutions to meet the changing needs of their workforce. Shaped by changing work environments, economic pressures, and technological advancements, the following trends are emerging as essential components of a competitive benefits package.
USI is a leading insurance brokerage and consulting firm that specializes in employeebenefits. The company offers a wide range of benefits solutions to help organizations of all sizes attract, retain, and engage their employees.
workers choosing high-deductible health plans has leveled off during the last two years, uptake has been growing rapidly among one segment of the working population: Gen Z employees. The report notes 84% of employers offer both HDHPs and traditional health plans to ensure that they can met the needs of a multi-generational workforce.
Which voluntarybenefit options are right for your employees? This 4-step voluntarybenefits checkup will help you decide. As the cost of medical plans rises, employers are offering high-deductible health plans (HDHPs) and healthsavingsaccounts (HSAs) as part of their employeebenefit plans.
Benefits are also not top of mind for many employees. Employees are often more focused on frequently used benefits such as vacation and paid off policies (PTO) rather than insurance, voluntarybenefits and retirement plans. Ease the benefits experience with WEX’s Open Enrollment Toolkit.
Some employers have gravitated towards HDHPs to reduce their and their employees’ overall premium spend, but these plans come at a cost: more out-of-pocket costs for workers. Coverage can often be configured to be compatible with HDHPs using healthsavingsaccounts.
While the terminology related to healthcare and employeebenefits may be second nature to HR professionals and benefits administrators, it is a good bet many of the terms are unknown or misunderstood by your employees.
For instance, many benefits plans have employee assistance programs (EAPs) with financial wellness resources that cover legal services and caregiving services that can help alleviate financial stress. The pieces that comprise healthcare and retirement plans, voluntarybenefits, and EAPs are connected.
By providing personalized guidance, these tools empower employees to make informed choices aligned with their individual goals. For example, My HSA Planner makes learning about how to utilize healthsavingsaccounts (HSAs) a breeze. But what incentives resonate most with employees?
From well-being to flexibility, continuous learning to personalized perks, let's understand the game-changing employeebenefits trends that will take lead in the near future. Offer alternative healthcare plans , such as high-deductible health plans (HDHPs) paired with healthsavingsaccounts (HSAs).
Your employeebenefits broker should be analyzing your program data on an ongoing basis to estimate the renewal rate and avoid a nasty surprise. Keep New Benefit Options Simple. Even if you did a health spending accounts campaign, it pays to repeat it. The same goes for voluntarybenefits: keep them simple.
As you think about the changes you want to make to your employeebenefits offerings, now is the time to talk benefits technology too. The first part of the year is a good time to audit what’s working and what’s not, and to go over any feedback you got from employees about the open enrollment process.
Employees don’t work for free. They want to be fairly compensated for their work, and that usually involves both wages and employeebenefits. Although some small business owners may feel overwhelmed by the prospect of offering health insurance and other benefits, the many advantages can make the effort worthwhile.
But the group employeebenefits world is no comedy. Let’s start with the understanding that group employeebenefits represents one of the largest expenses in your organization. Additionally, your benefits program is a key recruiting and retention tool for employees. It made for a hilarious movie.
1 Many of them are still learning how to choose the right benefits each year so they get the coverage they need without overpaying or getting stuck with unexpected costs. The Baby Health Insurance Playbook isn’t really a book. It’s simple, practical benefits guidance. Your Employees Still Don’t Understand HDHPs and HSAs.
Using health insurance benefits as a way to differentiate yourself in the market can help you attract and retain the employees you need while providing them with one of the most valuable employeebenefits. During open enrollment this fall, ensure your coverage information is clear.
With answers and feedback in hand you can create a benefits package that is more appealing to them, which in turn gives you a competitive edge when attracting and retaining workers. Engage employees and solicit feedback through quarterly employee-benefits round table meetings.
Check out our other compliance blog posts on HSAs , HRAs , LSAs , and voluntarybenefits. Employee eligibility Employee eligibility for FSAs typically requires enrollment during your company’s open enrollment period, or at the time of hire or a qualifying event. It is not legal or tax advice.
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