Employer Strategies

Although your employer clients may consider granting employee requests for exceptions to health plan rules or limits, doing so could cause trouble down the road. Advising them to consider a plan amendment may be a better choice.

Last week, the Department of Labor updated its prior guidance on locating missing participants. As before, the guidance technically only applies in the context of terminating defined contribution plans, though it can be instructive for retirement plan fiduciaries trying to locate missing or unresponsive participants.

Benefit advisers and employers say a host of challenges is not only to blame for stagnant SHOP enrollment, but must be overcome if SHOP is to enjoy any success.

Although open enrollment for ACA plans is not set to begin until November 15, a new report estimates that nearly 7 million adults may be able to enroll through special enrollment periods.

While American employees appreciate having a 401(k) plan, the majority will likely spend more time planning for a new car purchase or vacation than researching their plan’s investment options.

Commentary: Benefit advisers hoping to maintain satisfied clients after the first open enrollment period should avoid these common bad behaviors that could cost accounts in the long run.

Sharla St. Rose, director of voluntary benefits at NFP Corporate Services, shares her passion for the product lines and why all brokers need to educate themselves on these benefits

Enrollment on the SHOP exchanges remains stagnant, a concern benefit advisers attribute to inadequate marketing practices. Brokers also remain concerned about the poor quality of training for those assisting employers with enrollment.

When they leave the workforce, Generation X may be in a similar, not worse, retirement situation than baby boomers given their access to automatic enrollment in defined contribution plans and the growth of their future plan contributions, according to the Employee Benefit Research Institute.

The Internal Revenue Service has issued a new one-page publication with information about exemptions to the health coverage requirements of the Affordable Care Act.