Health claims in 2021 could reflect the consequences of letting risky health conditions go untreated for more than a year, exacerbated by stress, poor diets and suspended gym memberships.
Moving from a fully insured health plan to self-funding can seem daunting for many smaller employers. Level-funded health plans are a hybrid solution for employers that are not yet ready to completely self-insure.
Employers can improve the value of workplace financial wellness initiatives by tracking metrics such as employee morale and financial stress, along with measures such as retention and absenteeism.
The COVID-19 pandemic, social unrest and technological advancements have amplified and accelerated employee benefits trends that were already underway. Here, benefits and pay specialists share their predictions for 2021.
Tough times are an opportunity not to abandon the 401(k) match but to reinvent it. For companies struggling to pay their match, there are ways to reduce costs while motivating workers to save. And for companies not planning suspensions or cuts, the strategies can improve the impact of the match on savings behavior, retirement plan experts advise.