Compliance Recap February 2024 | Benefits Collaborative

In early February, a federal class action lawsuit was filed against Johnson & Johnson (JNJ) and its plan fiduciaries, alleging overpayment for prescription drugs within its prescription drug plan. The complaint alleges that under the Employee Retirement Income Security Act of 1974 (ERISA), JNJ’s plan fiduciaries are obligated to diligently compare service providers, seek cost-effective options, and … Continued

Health Insurance Basics: Part 2 | Benefits Collaborative

Does a Health Plan Typically Pay for Services from Any Doctor? Not always. Some types of plans encourage or require consumers to get care from a specific set of doctors, hospitals, pharmacies, and other medical service providers who have entered into contracts with the plan to provide items and services at a negotiated rate. The … Continued

Top Benefit Trends for 2024 | Benefits Collaborative

The challenges that influenced the benefits landscape in 2023 persist—perhaps even more so. Rising costs, due to inflation and increasing health care prices, will continue to present challenges this new year.  But employers who understand the benefits landscape for 2024 can mold their approach for the upcoming year. A new year means revisiting your existing … Continued

Compliance Recap January 2024 | Benefits Collaborative

NEW EMPLOYEE CLASSIFICATION RULE In January, the Department of Labor (DOL) Wage and Hour Division introduced a rule that changes the way workers are classified under the Fair Labor Standards Act (FLSA). This Final Rule, effective March 11, 2024, offers a more comprehensive test to determine a worker’s status, potentially making it more challenging to classify … Continued

Health Insurance Basics: Part 1 | Benefits Collaborative

What is Health Insurance and Why is it Important? Health insurance is a legal entitlement to payment or reimbursement for your health care costs, generally under a contract with a health insurance company. Health insurance provides important financial protection in case you have an accident or sickness. For example, health insurance may help to pay … Continued

Compliance Recap December 2023 | Benefits Collaborative

WORKPLACE POSTERS The U.S. Department of Labor (DOL) enforces the posting of employee notices in the workplace to comply with various DOL statues. The posters are available for free in multiple languages. To determine which posters are needed for your business, the DOL  FirstStep Poster Advisor can help. Employers can download and print the posters directly from … Continued

What is Mental Health and Wellness in HR? | Benefits Collaborative

Mental health and wellness in HR is the practice of employers caring about the health and stress management of their workers by providing support and resources to prevent burnout. Human Resources professionals include mental health and wellness benefits, such as insurance coverage, employee assistance programs (EAPs), access to apps and counseling, and more. Beyond traditional benefits, … Continued

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