When each year ends, many people look at the year’s medical expenses to plan for how much they should set back for next year. In investigating these expenditures, you may notice that you still have money in your Flexible Spending Account (FSA) for the remaining year.

FSAs are unique in that any unused money from this plan year is forfeited once the new year begins. As a result, you do not want to leave money in your FSA once the new year rolls around. Want to know how to use FSA money before it’s gone for good? We compiled a list of some ways to use up your hard-earned FSA money that you may not have thought possible!

Life is slowly returning to post-pandemic normalcy, but as an employer, you’re likely still facing some business challenges. One of which is on every boss’ mind: whether you can and should require employees to get vaccinated. A balance must be struck between keeping your workforce safe and dealing with employees who refuse to get the shot.

You’re also considering how to keep workers safe as they transition from working remotely to on-site. To help you navigate these challenging and sensitive issues, read on for our guide to handling the COVID-19 vaccine and returning to on-site employment.

Digital health innovations are transforming the way people access healthcare services – so it’s only fitting that employers are increasingly turning to digital health to increase employee awareness and engagement with their health benefits. In fact, according to a recent survey, 68% of employers plan to invest more in digital solutions over the next five years. It’s a change that’s likely to excite many employees – 49% of employees surveyed said they’d be more likely to use a digital health solution if their employer offered it.

Offering today’s employees the best benefits package possible is vital to companies focused on employee satisfaction and retention. The current business climate is fiercely competitive in nearly every industry. In terms of employee recruiting and retention, everyone needs to find the best and most affordable path to offering employees an attractive, contemporary package that keeps them healthy, happy, and onboard.

The right employee benefits broker can help you do that and much more.

As you and your team celebrate your company’s growth, allowing you to cross the threshold of employing over 100 employees to become classified as a medium-sized business, everyone is likely brimming with excitement and ideas about how to keep up the momentum.

During the past decade alone, rapid technological advancements have radically altered the way many businesses operate today. Most small-and-medium-sized businesses leverage the power of technology to help spur continuous business growth amid organizational adjustments, increasing globalization, an ever-growing online marketplace, the trials of a global pandemic, and a rising desire for remote and mobile employment opportunities.

Managing your payroll in-house, month after month, is an extremely time-consuming and detail-intensive operation. Seventeen percent of small businesses spend 6-10 hours a month on payroll-related tasks, and 11% devote more than 10 hours per month. And the time you spend can end up costing you in other ways, too. A shocking 40% of small to mid-sized businesses face expensive IRS fines due to incorrect payroll filing.

To free up time, reduce errors, and streamline payroll operations, many companies eventually outsource to a payroll provider. Wondering how to choose a payroll provider? In this blog, we explore the most important points to consider as you prepare to outsource your payroll.

Now that we’ve completed our five-part blog series focused on optimizing your benefits plan, we hope you feel more informed and empowered to reduce the cost of employee benefits. Given the ever-increasing costs associated with healthcare, everyone needs to adopt the right option and develop the best strategy to save their business and employees.

Year after year, you watch the cost of your company’s group health insurance continue to rise. According to the Kaiser Family Foundation, the average single and family premiums increased by 4% in 2020. Many employers searching for unconventional ways to offset costs are now considering alternative methods to funding their plans. Captive and consortium health plans offer two possible options of self-funding that can help contain costs and lower your overall risk. If you want to continue offering high-quality benefits and enjoy the advantages of a flexible self-funded program, these two options may be worth the consideration.

As we launch this fifth and final post in our Health Plan Cost Optimization series, let’s take a look at how captive and consortium health plans work, how they differ, and how they can help you save money on health plan costs.

As we launch this fourth post in our ongoing Health Plan Cost Optimization series, it’s time to take a closer look at self-funded insurance plans. Whether a fully insured or level-funded insurance plan isn’t right for your organization, or you need more information to make your final decision, we hope you find this look at self-funded plans helpful.