Employee benefits are undergoing a transformative shift, and employers can seize this opportunity to differentiate themselves as top employers. The modern workforce comprises diverse generations with evolving expectations regarding work-life balance, mental health, and personalized benefits. In this dynamic environment, understanding and implementing the latest trends in employee benefits can set an organization apart. …
In 2024, employers across all sizes and industries encountered several trends influencing the employee benefits market. Rising healthcare costs, a competitive labor market, and regulatory concerns shaped how employers managed operational challenges. Several of these concerns, such as healthcare costs and labor market pressures, are expected to persist into the new year. Furthermore, emerging…
In 2023, employers were forced to confront new and enduring challenges, including rising healthcare costs, regulatory changes, ongoing high inflation, a competitive labor market, and growing employee demands. For many organizations, these challenges resulted in a difficult and demanding year. While many of these difficulties will likely continue through 2024 and beyond, understanding these challenges…
On April 13, 2023, the Departments of Labor, Health and Human Services, and the Treasury (Departments) issued frequently asked questions (FAQs) regarding the Affordable Care Act’s (ACA) preventive care coverage requirement. The Departments issued these FAQs in response to a recent court decision from Texas (Braidwood Management Inc. v. Becerra) that invalidated a portion of…
The coronavirus pandemic has sparked one of the largest social experiments in history. Virtually overnight, businesses across the world have been forced to rethink how they operate. Decisions made during this uncertain period will resonate for years and may serve as the base for a new, remote lifestyle post-coronavirus. Employee work-life balance is especially…
May is Mental Health Awareness Month, a national campaign designed to raise awareness about mental health issues and reduce the stigma surrounding mental illness. Mental health issues and mental illness are common. According to the National Institute of Mental Health, nearly 60 million U.S. adults lived with mental illness in 2021. Your mental health is…
Your mental health includes how you think, feel, and act and your emotional and social well-being. Mental health can change over time, depending on factors like workload, stress, and work-life balance. Mental Health Awareness Month is a national movement in May to increase awareness about mental health, fight the stigma, celebrate recovery, and support Americans…
The Employee Benefits Market Outlook examines critical employee benefits topics and trends, delivering insights into the market and forecasting where the industry may be headed in 2023 and beyond. Before addressing future trends, it’s critical to understand the central themes from 2022 that laid the groundwork for this year. To that end, the Market Outlook…
Over the last few years, almost every aspect of the workplace has changed, leading to many unforeseen challenges. Unfortunately, many challenges plaguing workplaces in 2022 will likely continue in 2023 and beyond. In particular, current labor challenges are forcing employers to find ways to balance rising costs and inflation while providing employees with benefits they…
DECEMBER 6, 2022 Anna Sutton was shocked when she received a letter from her husband’s job-based health plan stating that Humira, an expensive drug used to treat her daughter’s juvenile arthritis, was now on a long list of medications considered “nonessential benefits.†The July 2021 letter said the family could either participate in a new…