Banco Popular de Puerto Rico

As we begin the New Year, educating employees about new benefit programs through innovative, digital communication will be absolutely crucial. Here are five predictions for what 2014 will bring.

Although plan sponsors aren't required by law to have one, the investment policy statement is one of the primary documents the Internal Revenue Service and Department of Labor request when they visit employers for plan audits.

It’s undeniable – cloud-based technologies have fundamentally changed how businesses operate. As employers transition from on- to off-premise for HRIS, they are seeing increased productivity and profitability in the obvious ways: lower up-front costs, faster innovation, easier integration, and no nasty upgrade hassles. It’s quite possible, however, that a less-obvious HR cloud revolution may prove to be even more meaningful – one that is more about people and culture.

The Wellness Emperor Has No Clothes is the theme of Al Lewis’s and Vik Khanna’s writings, and it gets a new treatment in their latest book, Surviving Workplace Wellness. It paints a stark unflattering picture of the wellness sales industry.

Health care exchanges and other issues related to the Affordable Care Act have garnered a great deal of attention. However, additional and less well-known ACA regulations went into effect on January 1. One of these impacts wellness programs, including the myriad initiatives employers have put in place to encourage employees to exercise, lose weight and otherwise improve their health to prevent illness, disability and its costs.

As you work with your investment adviser on the content of your annual 401(k) plan employee education sessions, now is the time to determine whether it makes sense to re-enroll all of your participants into your Qualified Default Investment Alternative funds.

Why are employers still offering health care benefits and increasing worksite wellness activities? It’s not rocket science. Employers don’t offer benefits because they are altruistic. They do so primarily to recruit and retain talent and to ensure workers have the mental and physical capacity to perform their best on the job.

Help your participants stay on the path to retirement readiness. From setting goals to maximizing contributions, here are the key messages to emphasize with 401(k) plan members.

Combining wellness and HSAs is a long-term strategy. However, there can be some immediate benefit for the employer, which typically begins by going from a traditional fully insured plan to a high-deductible plan with a HSA, thereby saving the employer some money right out of the gate.

Whether your business is self-insured or purchases a health plan, it’s time to bend the cost curve in your favor. Using a combination of robust data analytic tools and care management, population health management offers benefit managers a proactive approach to improve the health and well-being for members whose chronic conditions can account for 75% or more of your healthcare expenses.