According to the U.S. Department of Labor’s National Compensation Survey, only 25 percent of workers have access to employer-provided vision care benefits. Employers that fail to offer vision insurance plans due to cost could be making a mistake, however, since vision benefits have big payoffs in terms of improved health and productivity. Companies that offer...
Read more
Voluntary Life Insurance Can Help Women Bridge the Insurance Gender Gap
The MetLife Employee Benefits Trends Study found that 54 percent of employees are interested in having life insurance available through the workplace, even if they have to pay the entire cost themselves. Making insurance available through the workplace, including with voluntary programs, can help eliminate a dangerous financial problem for many women: inadequate life insurance....
Read more
Employee Dental Insurance for Every Budget
Dental health coverage is the second most requested benefit—right behind medical insurance. With a variety of plan types, any employer can find an affordable dental insurance plan to enhance its benefit package. A fully insured dental plan typically costs no more than 10 percent of the cost of medical coverage, and annual increases are much...
Read more
Employee Assistance Programs
EAPs can co-exist with employer health plans under the Affordable Care Act. Here’s what you need to know about employee assistance programs. An employee assistance program, properly implemented, can provide a significant return on investment and can help you raise the productivity of your workforce, lower absenteeism rates, reduce accidents and help resolve workplace conflicts...
Read more
The Health Insurance Costs of Obesity
While Mississippi claims the dubious distinction of being the “fattest state,” with a self-reported obesity rate of 34.9 percent among adults, the truth is that the obesity problem affects employers in the form of higher health insurance premiums and other economic costs in every state. Even in Colorado, the “slimmest state,” more than one-fifth of...
Read more
COBRA and the Affordable Care Act
COBRA has presented administrative challenges to employers since 1985. The Affordable Care Act promises to make health insurance available and affordable for all Americans. This eliminates employers’ need to offer COBRA continuation coverage. Or does it? The Patient Protection and Affordable Care Act (PPACA) did not eliminate COBRA or change the COBRA rules. In fact,...
Read more
How to Get Sued By Your Employees in 10 Easy Steps
Owners of small businesses may unintentionally violate employment laws just by trying to be flexible or nice. The Small Business Administration (SBA) shares ten of the most common mistakes and suggestions on how to avoid them. The SBA based its list of ten common mistakes on a study by the California Chamber of Commerce on...
Read more
The Long-Term Disability Policy — Short Version
Every long-term disability policy has these key provisions. These include: Definition of disability: This key provision determines when — and if — the policy will pay benefits. Some policies define disability as the inability to perform material and substantial duties of one’s own occupation. Others pay benefits only when the insured cannot work in any...
Read more
The Affordable Care Act and Voluntary Benefits
It’s important to understand that the health insurance exchanges created by the Affordable Care Act offer only major medical insurance. When it comes to other benefits, however, voluntary benefits can fill the gaps. Dental and Vision Benefits The Affordable Care Act (ACA) requires health plans to cover pediatric dental and vision care services to be...
Read more
Are You Losing Abandoned Retirement Funds to Escheat?
Every year, thousands of people disappear into thin air, at least as far as their former employers are concerned. This can create problems for retirement plan sponsors. If an employee leaves after vesting but before the plan’s retirement age, benefits generally stay with the plan until the employee claims them at retirement. Several situations could...
Read more