Bridging the Gap: What your Employees Know and Actions You Can Take
Employees know far less about their pre-tax benefit accounts than one might hope. In The Knowledge Gap eBook, we presented the results from the 2017 BRight Ideas Contest. Over 8,000 eligible employees tested their knowledge on pre-tax benefit accounts. In many ways, the results suggest the Knowledge Gap regarding pre-tax benefit accounts is shrinking. However, […]
New to pre-tax benefits? 4 facts you should know
First time at the pre-tax benefits rodeo? Don’t worry- we’ve got you covered (pun intended). As a pre-tax administrator, we know how confusing the ins and outs can be. But we’re here to help you sort through the details. One important clarification before we get started… Pre-tax benefits are not the same thing as insurance […]
Being a new mom – how pre-tax benefits can help
This Mother’s Day, whether you’re expecting or you’ve recently welcomed a new member to the family, discover how pre-tax benefits can help with being a new mom. Pre-pregnancy If you’re trying to have a baby, items like ovulation monitors and pregnancy tests are available using funds from your pre-tax health accounts*. Tests can run from […]
Spring Fever– Cleaning Out the Medicine Cabinet
If you get hit with spring fever, one of your stops should be cleaning out the medicine cabinet. You’ll want to tackle the project by throwing away expired medicines, evaluating if you need any new items, and replacing old supplies. Three Steps to Organization Tossing Expired Items According to this article from the CDC, you […]
Getting Ready for Tax Time
If you have enrolled in a Health Savings Account (HSA), you already recognize the significant tax savings this type of account provides. An HSA is the only account to provide a triple tax benefit— you save when funds are contributed, as funds grow and when funds are used for qualified medical expenses. However, tax time […]
Top 25 Ways to Save with Pre-tax Benefits
Benefit Resource has been in business for 25 years because of our wonderful clients and participants. As a thank you and to give back, we’re sharing 25 ways to save with pre-tax benefits. When it comes to claims, receipts and substantiation… Always keep your receipts. It’s better to have a receipt and not need it than […]
12 Months to Better Benefit Satisfaction
Our 2018 resolution is to partner with you to provide insights and advice on how you can increase benefit satisfaction for your employees. We are introducing a monthly series in which we focus on a topic or area you can use to improve the benefit satisfaction of employees. We’ve provided a sneak-peek below of the […]
Making sure you’re ready for 2018
We’ve compiled the best advice from 2017 and broken it down by category so you can be prepared for 2018. Review what you need to know about COBRA, Commuter Benefit Plans, Flexible Spending Accounts, Health Savings Accounts, and pre-tax accounts. Are you ready for 2018? COBRA 6 Reasons COBRA Coverage Ends Early Provides a basic […]
All I want for Christmas is…the Tax Cuts and Jobs Act?
While many of us finish our holiday preparations, Congress is working on some last minute “gifts” of its own. Late Friday, December 15, 2017, Congress released the final Tax Reform Bill. This bill resolves the differences between the House and Senate versions of the Tax Cuts and Jobs Act. The House approved the resolution with a 227-203 […]
Voluntary Benefits and the Missing Demographic
Part of retaining talent in your organization and spending money wisely is offering voluntary benefits that your employees need and will use. To see if you’re offering the right voluntary benefits, you’ll need to look at the segments of your workforce. We’re not talking about who is a Millennial, Gen X or Baby Boomer. Those […]
Negotiating Your Healthcare Bills
You’ve opened the mailbox and you see a hospital bill. You know the one, the one that says you owe $3,258.29. Or is it $2,450.39? It’s no secret that medical billing is confusing, an entire degree dedicated to it. The good news is, paying a medical bill is not like buying a drink at the […]
4 Steps to be a Smart Healthcare Consumer
I recently set out to buy a new computer bag. It is a rather arbitrary purchase in the scope of life. But, I identified specific criteria for the purchase. It had to accommodate my 17″ MacBook Pro. I wanted it to be “checkpoint-friendly” at the airport. And, I wanted it to have the look of […]
Top Searched Open Enrollment FAQs
As open enrollment nears for many and benefits options are presented, it is important to have a clear understanding of how each plan works and why you might want to enroll. To make sure you have your ducks in a row this open enrollment, we compiled the Top Searched Open Enrollment FAQs. The results?…Participants (and […]
History of Pre-tax Employee Benefits
Pre-tax employee benefits serve as a smart and easy way for workers to save money. However, they haven’t always been a component of employee benefit plans. In fact, pre-tax benefits, such as Health Savings Accounts (HSAs), Flexible Spending Accounts (FSAs) and commuter benefits, only emerged a relatively short time ago. No one person can take […]
6 Ways to Increase Engagement Using Benefits
Employee engagement is something every (or nearly every) employer hopes for. According to research from Gallup, only 30%* of employees are engaged in their jobs. Does that mean 70% of employees are not engaged? Yes and no. There is a spectrum of engagement. But what is engagement? What is engagement? Gallup lists three types of workers: […]
6 Low Cost Wellness Programs For Your Benefits Package
Whether you call it employee incentives, wellness perks or a healthy living benefits package, corporate wellness programs can take many shapes (and have widely varied price tags). But wellness author Greg Anderson may have stated it best: “Wellness is not a ‘medical fix’ but a way of living…” For employers that are looking to make a […]
5 Ways to Avoid Getting Bogged Down by HSA Implementation
Whether it’s work, social engagements or even personal matters, it can be easy to get bogged down by the details. As author and motivational speaker Jack Canfield puts it, “It’s surprising how many people get bogged down in analyzing, planning and organizing when what they really need to do is take action.” Implementing a High […]
Creating a Positive Work Environment to Ask Questions
There is plenty of information on the web about what employees should ask employers regarding benefits. But there are surprisingly few resources that address steps employers can take to create a positive work environment- specifically one where it’s safe to ask questions about benefit plans. John Maxwell, leadership mentor and speaker, said “People may hear […]
5 Reasons to Update Your Plan Documents
According to Antoine de Saint-Exupery, “A goal without a plan is just a wish.” In employee benefits, you might say “A Plan with no Plan Documents, is not a Plan at all.” “A Plan with no Plan Documents, is not a Plan at all.” January marks the beginning of a new Plan Year for many […]
Future proof your benefits — Strategies you can take regardless of healthcare legislation
Let’s face it. The only thing that is certain regarding healthcare legislation these days is that opinions vary. As an employer, you are likely to wonder what the future of employee benefits holds and how you can protect your employee benefits plans against changes in healthcare legislation. While there is not one correct answer, there […]
3 Ways to Help Employees Manage Out-of-Pocket Medical Expenses
Out-of-pocket medical expenses are on the rise, along with consumer stress levels. According to a Consumer Affairs article, “the average out-of-pocket spending for an individual consumer [in 2016] was $1,400”. These costs are compounded when employees lack understanding of the options available to manage out-of-pocket costs and how to optimize them. Help employees control or even […]
Benefits and Morale Go Hand In Hand
Stephen Hawking once said, “When the going gets tough, the tough take a coffee break.” Ok, maybe it takes a little more than a cup of coffee to get people motivated. Many factors create high morale in the workplace. Pay, flexibility, health care choices, company provided lunches, and ping pong tables can all affect how […]
Three Steps to a Mid-year Benefits Check-in
When it comes to benefits planning, there are often no simple answers or quick fixes. There may have been a time when an insurance broker came to your office before your intended open enrollment period, you signed on the dotted line and presented the plan to employees the following week. However, it seems benefits planning […]
3 Tips for Employers to Better Communicate the Advantages of Pre-tax Employee Benefits
Nearly 70 percent of employees said they had experienced rising healthcare costs over the past two years, according to the 2016 Workforce Benefit Report sponsored by Bank of America and Merrill Lynch. As these costs continue to increase, managing the overall cost of healthcare, both over the short- and long-term, remains a big concern for employees. […]
