For many employers, performance evaluations have become obsolete and for others they still exist, but only as a small part of a much grander process. Unfortunately, the annual performance evaluation by itself seldom provides any benefit, is often dreaded by managers and employees alike, and can be incredibly time consuming.
You take steps to protect your business from perils such as fire and theft. But how do you start to understand a risk that you cannot see and perhaps have never experienced?
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Our update for December highlights malware, data breaches, a bomb scare, and more.
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Know the essentials before deciding.
Introducing our 2019 MarketPulse trend report, where we discuss what our clients and other employers are doing to manage risks, promote employee productivity and morale, reduce costs and improve their organizations as a whole. In this issue, we explore retirement plans featuring target date funds as well as specialty drugs, cyber risk, predictive modeling, workplace well-being, advanced data analytics, the cost of large and often ongoing medical claims, and various emerging trends. In addition to a discussion of each trend, you will find supporting materials at AssociatedBRC.com/MarketPulse.
Download the PDF: MarketPulse 2019
Enrolled in a high deductible health plan (HDHP)? There may still be time to maximize your health savings account (HSA) contributions for 2018 — you have until April 15th to make your HSA contributions. Current contributions limits include $6,850 for family and $3,450 for single. Family members (or any other person) may also make contributions on behalf of an eligible individual. High deductible health plan (HDHP) requirements are:
For decades, rising healthcare costs have been a consistent topic of conversation, particularly for employers concerned with enhancing worker productivity, reducing medical costs and meeting occupational health and safety needs. One solution which has arisen with increasing frequency is the establishment of employer-sponsored clinics (or “onsite/near-site” clinics). With this solution, however, comes many considerations and challenges for employers.
During the November 2018 elections, several states approved the usage of medical marijuana. Numerous other states allow access to products with cannabidiol (CBD), which is derived from the cannabis plant, but with low to no THC content (the psychoactive component). As medical practitioners start prescribing it more often for a variety of maladies, cannabis (or some form of it) will become present in the workplace. The next question employers will ask: Can we cover it under our health plans?
Frequency and severity of large claims are on the rise as the cost of medications and treatment continues to increase. Large claims are also more likely to be ongoing and have repeated high annual costs. These factors, combined with the elimination of lifetime claim maximums under the Affordable Care Act (ACA), have created disruption in the normally sleepy stop-loss world.
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When employees turn age 65, they often have questions about their health benefits. Employers, too, seek to understand the interaction of Medicare, HSAs, and health plan coverage. Here are some myths about how Medicare coverage interacts with a company’s group health plan coverage.
Planning for a successful open enrollment starts early, and requires thoughtful decision making, including determining what notices should be given to employees and their dependents, and when each notice must be provided. It’s important to comply with notice requirements, not only to meet legal obligations, but also to provide your employees and participants the information they need as they make their benefit decisions.
In a tight labor market where competition for the best talent is fierce, it’s tough to keep up with latest trends, and even more of a challenge to decide which trends to pursue. In this article we will cover some of the latest benefits we see employers considering and implementing.
Employers know that to attract and retain the best talent, they need to offer competitive wages and employee benefits. But providing benefits to highly compensated employees can be tricky. How can employers make sure they are offering the best benefits to attract and retain their top executive talent?
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