Compensation

Compensation

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  • One-to-one benefits counseling during open enrollment significantly improves employees’ understanding of their benefits, according to a recent post-enrollment survey.

    February 6
  • Walgreens is being hit by its withdrawal from the Express Scripts Inc pharmacy network and by a much-weaker-than-expected flu season, leading it to temper its expectations for the number of prescriptions it will fill this year.

    February 6
  • Big shifts may be coming in how retirement plans are managed after the the Labor Department Thursday announced the final version of its rules under Section 408(b)(2) of ERISA, which require broker dealers disclose their services and fees to plan sponsors for individual plans.

    February 3
  • The U.S. Labor Department has removed a controversial part of its proposed 401(k) fee disclosure rule that would have required retirement plan providers to create a summary document, or "roadmap," of all their fees for employers.

    February 3
  • The House of Representatives voted Wednesday to officially repeal the CLASS Act, the long-term care provision of the Patient Protection and Affordable Care Act.

    February 2
  • Based on 30+ years of plan sponsor experience, I believe negative press about 401(k) loans are aimed at the wrong target. Rather, hardship withdrawals should be in the crosshairs, not loans.

    February 1
  • It may seem like science fiction, but telehealth technology is making real-life strides in curbing consumer health care costs while ensuring convenience and efficiency for patients.

    February 1
  • Thirty-three percent of major employers offer transgender-inclusive benefits. This is five times more companies than last year, and a big part of the push came from the Corporate Equality Index, a series of guidelines from the Human Rights Campaign that measured employers on five criteria regarding benefits for transgendered workers: short-term leave, counseling by a mental health professional, hormone therapy, medical visits to monitor hormone therapy and surgical procedures, without any exclusions.

    February 1
  • Increasing employee engagement with benefits enrollment is difficult at best - and even more so when attempting to communicate concepts such as high-deductible health plans and health savings accounts. As more employers make the switch to full replacement HDHPs, it's more important than ever that employees fully engage with open enrollment materials so that they understand how to use the plans.

    February 1
  • Economic pressures have pushed third-party administrators to proactively market to potential employer-clients. With an increasingly complicated regulatory environment, TPAs are demonstrating their worth with enhanced marketing techniques.

    February 1
  • Oncotype-DX is a genetic test for breast cancer that predicts the risk of recurrence. It costs about $3,500 and is covered by the majority of U.S. health plans. The test determines, based on the patient's genes and the genes of the cancer, the likelihood of the cancer coming back within 10 years. It can help the patient and oncologist figure out if they should treat the cancer with chemotherapy

    February 1
  • It is becoming increasingly common to offer nontraditional benefits, or benefit "perks," to employees. As companies struggle with the cost of traditional benefits such as medical and dental plans, offering additional perk-type benefits are intended to boost employee morale.

    February 1
  • Statistics show 96% of Americans use Facebook, and 46 million check their social media profiles daily. According to the Society for Human Resource Management, more than one-half (56%) of organizations currently use social networking websites when recruiting potential job candidates, a significant increase from 2008, when 34% did so. However, when it comes to in-house communications, most companies still use face-to-face or email to convey key HR/benefits messages and information.

    February 1
  • At Children's Creative Learning Centers child care centers, we think quite a lot about company culture, our own and those of our clients. When discussing the ways our centers can reflect the values of the companies they reside within, we help clients uncover and distill the elements that define them as an organization and discover those they want to pass along to their children. In the larger world of work-life and family-friendly programs, we have found that company culture is one of the main factors that determines the success of these programs and that, in turn, work-life programs can be a tool for a real cultural revolution.

    February 1
  • Not only is it painful for an employee to hear the news that their loved one has suffered a heart attack, but the unforeseen costs of health care will soon take a physical, emotional and financial toll if they are not prepared.

    February 1
  • While working for a benefits enrollment firm, I managed to get a coveted appointment with the senior vice president for voluntary benefits at a major regional brokerage. He started the meeting with an invitation to pitch: "We already work with several enrollment firms. Why should we work with you?"

    February 1
  • Offering a retirement plan can be one of the most challenging - yet rewarding - decisions an employer can make. The employees participating in the plan, their beneficiaries, and the employer all may benefit when a retirement plan is in place. Administering a plan and managing its assets, however, requires certain actions and involves specific responsibilities governed by the Employee Retirement Income Security Act.

    February 1
  • Though the 401(k) and defined contribution market gets lots of attention from all sectors of society and has a significant amount of assets, there are only about 110 national providers and advisory firms focused on this market.

    February 1
  • Employees do not save enough for their eventual retirement needs, research shows. But, with tools, help and education from financial advisers that paradigm may shift - benefiting not only the employee but the employer and adviser.

    February 1
  • The health care system is "so screwed up in where we invest our money," and that needs to change for costs to become manageable, said a health researcher in late January.

    February 1