Benefits Think

What does next year look like for retirement plan sponsors and participants? Here’s an early call on what many experts expect to see.

While carolers may chant joyfully about the holidays being “the most wonderful time of the year,” many workers find themselves singing the blues during the winter months. One in 10 people will experience depression at some time in their lives, according to the U.S. Centers for Disease Control and Prevention. This not only inflicts suffering on individuals and families, it costs employers $44 billion annually in lost productivity.

This month’s blog entry has nothing to do with employee benefits and everything to do with saying thank you to your clients and employees and giving back to the community at the same time by living an attitude of gratitude.

Older employees with chronic conditions struggle to feel comfortable with health and wellness programs, often displaying an almost teenage-like rebellion against being asked to participate. The trick is to get past the skepticism and demonstrate the benefits of the programs.

Most employer plan sponsors use an investment adviser to help them with their 401(k) plans — a smart decision since most advisers are able to save plan sponsors at least as much as they charge in fees each year. Here's how to tell if you're working with a good one.

Starting January 1, 2014, the Affordable Care Act will dramatically expand the ability of companies to penalize employees for lifestyle issues, including being overweight or smoking, in the name of “wellness incentives.” Overweight and obese employees may now face staggering financial penalties of up to 30% of the cost of their health plan, and up to 50% of the cost of their health plan if they smoke.

Obamacare is no longer a political issue. Like it or not, that fight has largely been fought. It is, however, a human behavior issue.

There is a big difference between price and cost when it comes to disability insurance, writes The Standard's Steve Brady.

As the economy improves, corporate profits increase, and the job market strengthens, employers are getting creative to hold on to key employees, including developing and articulating a distinctive employee value proposition. Retention (and acquisition) requires not only a competitive salary and benefits, but also an array of nonfinancial strategies.

In an environment of rapidly rising premiums and deductibles, non-traditional products and services help mitigate health care costs, promote educated consumerism, and reduce out-of-pocket medical expenses for the insured, uninsured and under-insured.