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Koster is a Los Angeles-based freelance writer and former Employee Benefit News online managing editor.
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The U.S. fell three spots to 24th in a global retirement ranking, highlighting growing pressure on employers to help workers save and plan for rising costs.
Reducing healthcare benefits can provide immediate savings, but it could also stunt retention and recruiting efforts.
Employers should educate staff on the nuances of every coverage option, advises Benefitbay CEO, ranging from coinsurance to coverage tiers, networks, “incumbent bias,” and more.
Workers estimate they’ll need over $5K in monthly retirement income, but many have no clear strategy for turning savings and investments into a steady paycheck.
Leaders from Equifax, Bartaco and Children’s Health gathered in Las Vegas to share their insights and best practices at EBN’s Benefits at Work conference.
