Employers have a vested interest in the overall well-being of their employees. A happy and healthy workforce increases productivity, reduces absenteeism, improves retention and lowers total benefit costs. There are several ways employers can invest in employee well-being. Employers can focus on one or more of the four pillars of well-being: physical, mental, financial and social, or they can take a more comprehensive approach. Continue reading
On March 29, 2023, the U.S. Senate passed a resolution that would end the COVID-19 national emergency declaration that has been in place since 2020. The U.S. House of Representatives voted in February to terminate the order, and President Joe Biden had indicated that he would sign the bill despite strongly opposing it. Biden had previously announced plans to end the national emergency declaration implemented by former President Donald Trump in May 2023. This resolution will not change the end date of the public health emergency which remains May 11, 2023.
On April 10, 2023, President Biden signed a resolution ending the COVID-19 national emergency. Since the national emergency now has been determined to end on April 10, 2023, the 60-day period would end on June 9, 2023 (rather than July 10, 2023, as previously predicted). But we understand the DOL has indicated that it will continue to use the May 11 date, meaning the outbreak period would end on July 10, 2023 (60 days after May 11) as originally announced. We are hopeful the agencies will issue formal, written guidance to confirm the end of the outbreak period.
Our original post about the plans to end the national emergency and public health emergency is included below. We also hosted a Q&A webinar on this topic on March 2. Click here to watch the webinar recording.
In the last week of 2022, two items of note came out of Washington, D.C., with impacts on group health plans: Continue reading
With an extremely competitive labor market, it is important for employers to recognize the challenges of the current employee benefits market and understand how to take advantage of opportunities to attract and retain talented individuals. According to Microsoft’s 2022 Work Trend Index, 39% of all workers are considering changing employers this year, while 52% of Gen Z and Millennial workers are considering a change. Another trend identified by this study is that 53% of workers prioritize their health and well-being over work more than they did prior to the COVID-19 pandemic.
Given this landscape, it is now more crucial than ever for businesses to consider their peers’ benefits offerings and reconsider their own to maximize their attractiveness as an employer. By utilizing benchmarking data, companies can make informed decisions about which employer-sponsored healthcare benefits strategy best aligns with their goals and gives employees the healthcare security and stability they seek. Continue reading
Businesses in every industry are facing cyber threats with increasing frequency and severity. It is no longer a question of if your organization will experience a cyber incident, but when. From employment/HR data breaches to operations disruptions to wire transfer fraud and more, today’s landscape is brimming with real threats promising real and costly business impacts.
Earlier this month, our team in Nashville pulled together a group of industry experts for a panel discussion to discuss the current cybersecurity environment and best practices for businesses to prepare for and respond to potential incidents. Continue reading