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Employees look for solutions to their unique problems from building retirement savings to handling unexpected medical expenses. Compared to years prior, employees are more interested in retirement benefits and paidleave opportunities. Financial wellness remains at the forefront of worker attention.
Additional compliance topics for 2025 Mental Health Parity and Addiction Equity Act (MHPAEA) Employers offering group health plans must ensure compliance with the MHPAEA , which requires parity between mental health/substance use disorder benefits and medical/surgical benefits.
Statistical study on staff benefits program: -> A survey indicated that 95% of employees consider health care benefits as the most important aspect of their compensation package, followed by retirement plans at 71% and paidleave at 50%1.
However, some businesses offset this cost to their employees by contributing money to healthsavingsaccounts. Written as a report, your total compensation statement should show: Health insurance amount – how much you pay each month for their health insurance and what percentage of the cost of their family’s coverage.
Relief for healthsavingsaccounts and dependent care assistance plans. The leave and the tax credits are extended, not reset, for 2021. So if employees have maxed out on their leave in 2020, they aren’t eligible for more paidleave after Dec. Extensions of popular payroll tax provisions.
Flexible spending accounts (FSAs) and healthsavingsaccounts (HSAs) HSAs and FSAs can help employees better prepare for medical expenses and, in the case of HSAs, even help employees enhance their retirement savings. Having such a program may set your company apart in the job market.
Trump: Supports allowing families the option of advancing up to $5,000 of the Child Tax Credit to fund unpaid leave and pay for care and other costs associated with a new child. Supports more paid family leave for federal workers. Labor relations. Trump: Seeks to rescind the Affordable Care Act.
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