Few Participants Have FSA Forfeitures
Flexible spending accounts (FSAs) can offer participants tremendous financial savings. Because money is contributed to a health care or dependent care FSA on a pre-tax basis (and because FSA contributions also are not subject to Social Security taxes and, in most states, state income taxes), FSA participation lowers the amount of taxes owed. Put another way, in most states, every penny of every dollar contributed to an FSA can be used for qualified medical or dependent care expenses.
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Population Health Management Requires Knowing Your Health Plan’s Cost Drivers
Any employer with a health plan has seen evidence that a small percentage of the covered employee population accounts for a very large percentage of the plan costs. For example, an employer could realistically find that 20% of their employees account for 80% of health plan costs, but this ratio varies from employer to employer and year to year.
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Workers Continue to Have Unrealistic Retirement Expectations
“Will More of Us Be Working Forever?” asks the appropriately titled 16th annual Retirement Confidence Survey (RCS) from the Employee Benefit Research Institute and Mathew Greenwald & Associates. The answer very well could be “yes,” based on the survey’s findings, which continue to indicate that workers’ savings practices do not justify their expectations about retirement.
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What’s “Hot” in Voluntary Benefits?
Voluntary benefits are “hot,” a recent report confirms, with more than three-quarters (77%) of surveyed employers offering these employee-pay-all benefits and 80% of their employees viewing them as a valuable—or extremely valuable—workplace offering. The survey from Aon Consulting, What’s Hot and What’s Not in Voluntary Benefits, found that almost three in ten (29%) employers that offer voluntary benefits do so as a tool to attract and retain employees, 28% are responding to employee requests, and 25% want to help employees achieve a work/life balance.
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New
approach to health care
Plans with higher deductibles and a savings account on rise
So you thought those $20 doctor's office co-pays
and your $250 deductible threw you off budget
fast? That was nothing. Get ready for the
world of consumer-directed health care, where
you'll pay $1,050 to $5,450 out of pocket before
the insurance company pays anything.
Think you don't need to worry about it? Think
it doesn't apply to you? Think again.
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