Employee Benefits

Employee Benefits

Four in 10 Americans Admit Knowing Little Or Nothing About Their Employee Benefits

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New research from MassMutual finds that while most Americans understand the importance of their personal finances and employee benefits, 40 percent admit they know little or nothing about them. On the surface, most people seemingly have their financial house in order, saying they prioritize understanding their personal finances (77 percent), having enough medical insurance (74 percent) and being on track to retire comfortably (65 percent), according to the 2015 MassMutual Employee Benefits Security Study. Yet 38 percent say they know little or nothing about their employer-provided benefits such as healthcare, life insurance, 401(k) retirement plans and other benefits. Two in five respondents (42 percent) say they are clueless about whether or not they are on track to retire comfortably, the study found.

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1 in 4 Employers Offering Health Benefits Could Be Affected by the Cadillac Tax in 2018

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Share of Potentially-Affected Employers Could Grow to 30% in 2023, 42% in 2028, Analysis Finds New projections from the Kaiser Family Foundation estimate that one in four employers (26%) offering health benefits could be subject to the Affordable Care Act’s tax on high-cost health plans, also known as the “Cadillac plan” tax, in 2018 unless they make changes to their plans.

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Benefits Remain a Key Tool for Retention and Recruitment

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In spite of major changes in the health care landscape, small-business owners looking to recruit and retain top employees still need to pay close attention to their benefits offerings. According to the 2015 Aflac WorkForces Report for Small Businesses released today by Aflac, the leading provider of voluntary insurance at the work site in the United States, a majority of workers employed in small businesses are willing to consider a job with slightly lower pay but better benefits, while half of potential job-changers say improving their benefits package could keep them right where they are.

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What You Need to Know About Small Business Healthcare Tax Credit

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If you are a small employer, you might be eligible for the Small Business Health Care Tax Credit, which can make a difference for your business.   To be eligible for the credit, you must: have purchased coverage through the Small Business Health Options Program – also known as the SHOP marketplace have fewer than 25 full-time equivalent employees pay an average wage of less than $50,000 a year pay at least half of employee health insurance premiums

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Companies Turn their Focus to Excise Tax; Pre-65 Retiree Strategies in Wake of King v. Burwell Ruling

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Companies Look to Transition Retirees to Health Exchanges Today the U.S. Supreme Court handed down a decision on the King v. Burwell case, which ruled that individuals can continue to receive subsidies to purchase health care insurance on the federal exchange. Health care experts from Aon Hewitt, the global talent, retirement and health solutions business of Aon plc (NYSE: AON), are available to comment on what’s next for employers and individuals.

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Employers are Offering More Tools and Resources to Improve Financial Outcomes for Workers

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As employers expand their focus on the overall financial well-being of their workers, a new survey from Aon Hewitt, the global talent, retirement and health solutions business of Aon plc, reveals that an increasing number of companies are broadening the types of financial and retirement planning tools and resources they provide to workers. Employers are also taking advantage of the size and purchasing power of their defined contribution (DC) plans to reduce costs and improve returns for employees.

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Onsite Clinics Are a Key Component to a Successful Health Benefits Strategy

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Clinic Sponsors Experience Reduced Costs, Improved Employee Health, Productivity and Engagement Employers are increasingly finding the use of onsite and near-site clinics as a successful strategy in controlling health care costs, enabling easy access to medical services, improving employee health, enhancing engagement in worksite programs – and ultimately increasing productivity, according to a survey of 255 employers by the non-profit National Association of Worksite Health Centers (NAWHC), with support from PwC US. NAWHC conducts an annual survey of employer sponsors of onsite clinics to enable them to benchmark their operations and policies.

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