Background The United States is currently experiencing one of the largest transfers of wealth in history as aging baby boomers are passing on their wealth and transitioning the ownership of their businesses. The increasing number of these transactions has caused an uptick in the number of claims made against trust and estate attorneys.
Studies have found that companies with high employee engagement see 22% more profitability and 21% more productivity than other organizations. If engaged employees make your company money, then it stands to reason that disengaged employees are actually costing you money in terms of productivity, absenteeism, turnover, and more.
On March 11, 2021, President Biden signed the American Rescue Plan Act (ARPA) into law. The $1.9 trillion stimulus law includes several welfare and fringe benefit plan provisions. The information outlined below is subject to clarification as the government agencies issue guidance to implement ARPA.
PSA has shaped our recent Partnership Webinar series to meet you where you are and support you in your leadership journey during the pandemic. Our most recent webinar continued in that vein with a focus on resilience. High-altitude climber and expedition leader, Jim Davidson, shared what he learned during numerous perilous climbing experiences to spark the belief we can come back from challenges stronger than before with Everest-level resilience.
Delaying preventive care could be the difference between life and death. The risks of putting off preventative care are great. Without routine check-ups and screenings, small health issues may go undetected and become life-threatening issues if left untreated. Unmonitored chronic conditions may become worse and cause complications that may be impossible to reverse.
If you have a population of Service Contract Act (SCA) employees, your business likely faces a unique challenge when it comes to offering employee benefits. For an SCA employee, a certain dollar amount for every hour worked must be set aside for their SCA fringe benefits rate—money allotted to their health and welfare benefits.
Recognizing employees is key to retain star performers, which is even more critical during this pandemic. But showing appreciation could be more difficult with many businesses shifting to remote work. In this post I’ll discuss the importance of employee appreciation as a retention tool, especially during COVID, and provide five ideas on how to do […]
As medical plan premiums increase and employees are prescribed high-cost specialty drugs, which normally treat complex or rare chronic conditions, employers are left wondering about solutions to the rising costs of prescription drugs in their health plans.
Employers that sponsor welfare benefit plans must provide a wide range of notices and disclosures to employees and plan participants. These notices are required by the Employee Retirement Income Security Act (ERISA), the Affordable Care Act (ACA), the Health Insurance Portability and Accountability Act (HIPAA) and the Americans with Disabilities Act (ADA). This Benefit Minute […]
