Welcome to The Source, your one-stop-shop for the latest and greatest HR and benefits news. Our weekly publication highlights this week’s top stories in human resources, benefits administration, insurance, legislation and more to make sure you can stay on top of industry trends and changes. Start off your week on a high note with The Source!In this week's edition, we discuss the top employee benefits for college grads, remote work trends, new HSA contribution limits and more! Click To Tweet
What’s the Top Benefit New College Grads Seek at Work?
Newly minted college graduates place the most value on health insurance as an employee benefit, according to a survey by the American Institute of CPAs. Paid time off and student loan forgiveness follow in second and third places, respectively. Young investors benefit the most from 401(k) matches, but only 36% of participants said this was a “top 3” workplace perk. Read more about why health insurance is the hottest workplace benefit for newly graduates.
The U.S. Can’t Fix Health Care Without Better Price Data
The recently released RAN report in hospital pricing has fur flying over what hospitals charge and whether it has the right numbers. The study provided employers a glimpse into the high and variable prices they pay for health care services for their employees.
As soon as the data was releases, the study faced an onslaught of criticism: that the sample was too small, not representative, and only included data from about half the states. Hospitals questioned whether Medicare rates were a fair comparator, among other things. Check out the full article here.
Senators Call for Disclosure of Perks and Fees Paid to Health Benefits Brokers
A ProPublica story in February documented the hidden cash and gifts health insurers pay to influence independent brokers. In new proposed legislation, lawmakers say such fees should be revealed to employers. Health benefits brokers would have to reveal the fees and other enticements they’ve received from the insurance industry under bipartisan legislation proposed Thursday in the US Senate. This article discusses the findings from the ProPublica investigation in February.
Remote Work is Becoming the Rule, Not the Exception
The US may be leading in remote-work offerings, but it’s lagging in flex time. Almost half of global businesses surveyed say they already offer some degree of remote working, while three-fifths provide flextime opportunities. Working remotely is increasing in numbers and popularity.
A new study from Condeco Software shows that the US and Australia are essentially tied for having the second-most companies allowing remote work. See more remote work trends in this BenefitsPro review.
IRS Announces 2020 HSA Limits
Those with an HSA-eligible high-deductible health plan will see some slightly increased contribution limits in 2020. The IRS adjusts contributions limits for HSAs yearly based on inflation. Check out the new limits on BenefitsPro.
Ignoring This Client Asset May Become an Advisor’s Worst Nightmare
Permanent life insurance with cash value allows clients to grow a pot of money that they can access free of taxes via a policy loan. These insurance contracts require periodic review to prevent them from lapsing and to ensure that their premium and interest rate assumptions are still correct. Review what failure to maintain these contracts could lead to on CNBC.
This Week at PlanSource: Benefits Influencer Podcast
Our CCO and resident benefits technology guru, Nancy Sansom, was a guest speaker on last week’s episode of the Benefits Influencer podcast, discussing how technology can create the best benefits experience for HR teams and employees alike. Check it out!
Thought Of The Week
74% of employees agree that having insurance and benefits provides peace of mind for unexpected life events. – MetLife 2018
How do you provide your employees with peace of mind through benefits?