A recent survey found that the majority of employees prefer traditional employer-sponsored health insurance over receiving cash through an individual coverage health reimbursement arrangement (ICHRA) to buy their own coverage on the Affordable Care Act marketplace. The survey, conducted by Softheon, a health coverage distribution technology firm, and its subsidiary W3LL, found that 80% of…
Automobile insurance companies are struggling to keep up with the rising cost of collision insurance claims, and that’s forcing them to raise rates at a steady clip. In 2019, the industry paid out $62.6 billion in losses for damage to personal vehicles and $5.4 billion for commercial vehicles. By 2023, those numbers had risen to…
A new report has found that employers are increasingly wrestling with two challenges in their human resources departments: growing employee benefits fiduciary liability issues, and administrative difficulties in managing employee leaves. Employers are facing lawsuits by employees who allege they mismanaged their health and wellness benefits, and recently enacted legislation has increased their fiduciary responsibilities,…
The fires that have ravaged large swaths of homes and businesses in Los Angeles are likely to significantly alter the California commercial property insurance market. Policyholders may need to brace themselves for surging premiums, policy non-renewals and uncertainty. These wildfires will result in record payouts by insurers. Moody’s RMS estimates insured property losses from the…
A new study has identified the top five health conditions that are driving the overall cost of group health plan outlays, and without which spending would actually be falling. The report is enlightening, and employers can use the findings to offer programs aimed at education and prevention to help control their employees’ health care costs…
Employers with 10 or more employees must post their completed OSHA Form 300A by Feb. 1 and keep it posted in their workplace until April 30. The form must be posted where the company usually posts other employee notices, like minimum wage and workplace safety notices. Form 300A summarizes the total number of fatalities, missed…
While commercial property insurance rates have been increasing for seven straight years, the pace of rate hikes has slowed a bit this year, according to a new report. With many factors continuing to pressure rates, businesses should expect continued hikes for their commercial properties, with the biggest increases taking place in areas at higher risk…
Employees who are unfamiliar with how to access care using their group health insurance can inflate your plan costs and how much they pay out of pocket. Those who may not use their health plan much, or at all, may end up going to the emergency room for an issue that could have been handled…
While your organization may have its cyber-security protocols buttoned up using best practices, there is a growing risk to businesses from tech vendors that are used to run their operations. According to the 2023 SecurityScorecard “Global Third-Party Cybersecurity Breaches” report, 98% of organizations have a relationship with a third party that has been breached and…
As more people have been working remotely over the last few years, some employers have turned to employee-tracking software to ensure that these staff are working while on the clock, and to boost productivity. Tools like activity monitors and locations trackers, however, do not actually increase productivity and they can instead cause a backlash among…