Artificial intelligence (AI) is creating a swirling sense of anxiety, depression, excitement, and joy all at once. Many people want to use AI to make their work easier, to become more efficient. However, they are also fearful that the robots may replace them. Human Resources professionals have an obligation to prepare the workforce for a future in … Continued
PCORI FEE DUE DATE APPROACHES Employers offering self-funded medical plans, including health reimbursement arrangements (HRAs) must report and pay fees to the Patient-Centered Outcomes Research Institute (PCORI) by July 31. If the plan was fully insured, employers can rely on their insurance carriers to handle the fee payment. The current annual fees are: For plan years … Continued
In the wake of the Great Depression and WWII, employers started to add benefits packages. Healthcare had fallen by the wayside for families working to access the basic necessities of life. The idea was to support the employee’s personal needs while keeping and attracting the best talents in the workforce. This trend of offering benefits … Continued
As much as employers might prefer that employees’ personal affairs do not interfere with their work, the reality is that problems outside of the workplace can and do impact job performance. Many of these issues go unaddressed due to fear of stigmatization, leading to further declines in employee health and productivity. Anxiety and stress, financial … Continued
Are you the type of person who loves to save money? You’ll be happy to know that there’s a way to do so with your health care costs. It starts with medical expense accounts which let you set aside money to pay for certain health products and services. One type of medical expense account is … Continued
Total rewards packages refer to the compensation and benefits plans that companies offer. This phrase, however, extends beyond mere salary or wages and traditional benefits, like health insurance, to provide both recruits and employees with a rundown of what makes the employer special. Some in Human Resources might regard the total rewards package as the … Continued
CLAIMS SUBSTANTIATION FOR PAYMENT OR REIMBURSEMENT OF MEDICAL AND DEPENDENT CARE EXPENSES A memorandum released by the IRS Chief Counsel responds to a request for assistance regarding the reimbursement of medical and dependent care expenses. Addressed is whether reimbursements of medical expenses from a health flexible spending arrangement (FSA) provided in a cafeteria plan should … Continued
At a time when many companies are trying to “do more with less,” employees are feeling overworked and underappreciated. To remedy this problem, Human Resources can help organizations foster robust rewards programs. When budgets are tight, bonuses might not be possible. Recently, however, HR Exchange Network asked users of Terkel.io to share their suggestions for rewards, and they offered … Continued
Healthcare costs, and consequently employee health benefit costs, have been growing at an alarming rate in recent years. The U.S. as a nation spends more on health care than any other developed country but has worse health outcomes. How is this possible? Four Key Factors Driving U.S. Healthcare Costs: Aging Population Healthcare gets more expensive … Continued
The biggest challenge to employee engagement is burnout, according to the more than 400 respondents to the HR Exchange Network State of HR survey. Burnout, with 23% of the vote, was the top concern for motivating employees. WHAT IS BURNOUT? Burnout is a psychological syndrome emerging as a prolonged response to chronic interpersonal stressors on the … Continued
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