Cost-Effective Employee Benefits Blog

Historically, employees would most likely not resign from a job without having another job in place. Today it is not uncommon and not as frowned upon for someone to quit their job because family members need their care.

A Flexible Spending Account (FSA) is offered through lots of employers and it permits employees to allocate funds on a pre-tax basis that may be used for certain eligible health care expenses that would otherwise be completely out-of-pocket.

Though usually thought of only as a vehicle to help pay for out-of-pocket medical expenses, an HSA is also an effective means of saving money for retirement.

All claims that are reimbursed via an HRA or an FSA must adhere to specific guidelines established by the IRS in order to be deemed eligible.

Qualifying Events: When Can Employees Make Changes to Benefits Enrollment? “Qualifying life events” are changes in personal circumstances that allow an employee to alter their insurance elections outside of the usual open enrollment period. Qualifying events can change the amount of insurance an employee needs or the number of people that are covered under the policy. Most of the time, …

Misclassification of an employee, when done for the purpose of avoiding paying employment-related benefits or taxes for that person, is a violation of the New Jersey Fraud Prevention Act.

The wave of increased virtual healthcare usage also correlates with the virus moving and evolving across our nation.

When compared to traditional insurance, these plans, also sometimes referred to as ERISA plans, provide groups with greater flexibility in plan design.

To be eligible for participation in an HSA, an employee must also be enrolled in a high deductible health insurance plan (HDHP.)

As an employer, it is vital to take the generational makeup of your workforce into account when determining the employee benefits strategy for your company.