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 new overtime rules, open enrollment and voluntary benefits trends, legislation against 'surprise' medical bills and more! Click To Tweet
New US Overtime Rule Pushes Pay Threshold to $35,568
New Department of Labor overtime pay rules will make 1.1 million more workers eligible for overtime pay beginning Jan. 1, 2020. All employees paid less than $35,568 annually must be paid time and a half for time worked beyond 40 hours in a work week. These changes are the first since 2004, and bring the minimum up from $455 per week which is less than $24,000 a year. Now that the FSLA rules are final, employers need to review their exempt and non-exempt workers to decide a course of action. Learn more from TLNT.
6 Open Enrollment Trends to Expect Among Large Employers
New surveys from the National Business Group on Health identified six open enrollment trends for employees of large organizations. Most large employers are increasing efforts to improve quality, access and convenience of health care by providing workers more plan choices and greater access to virtual care solutions and mental health services. Read about the major trends and further analysis from BenefitsPro.
Health Benefits Costs to Rise Nearly 4% in 2020
According to a new survey from Mercer, health benefit costs are projected to rise by 3.9% per employee in 2020. Cost-shifting to employees will be less of a factor than in recent years, and forty percent of respondents with 500+ employees report that all or most of their benefit offerings are available to employees on a single, integrated digital platform this year. Read more insights from the survey in HR Dive.
In California, a ‘Surprise’ Billing Law is Protecting Patients and Angering Doctors
California passed one of the strongest laws in the country to outlaw surprise medical billing three years ago, and now lawmakers who want to ban surprise bills nationally are gravitating toward a California-style approach. Doctors’ advocate groups argue that a national version of California’s law would disrupt medical care so much that patients would have difficulty finding a doctor, but two new reports suggest that the bill has worked as planned. Check out the full analysis in The New York Times.
6 Voluntary Benefits Your Employees Want
Voluntary benefits are more important than ever in today’s era of a multigenerational workforce and competitive labor market where a one-size-fits-all benefit plan just doesn’t cut it. Offering a range of voluntary benefits can help meet employees’ needs at all life stages, whether they’re a Gen Zer just beginning their career or a Baby Boomer close to the end of it. The booming voluntary market has led to a lot of creative new possibilities to complete your benefits program; check out the top 6 trending voluntary benefits in Employee Benefit News.
HR Automation That Showed Results: Case Studies You Can Learn From
HR automation is becoming a must-have to take some of the critical but heavily manual tasks off of HR teams’ plates and make room for more strategic items on their to-do list. The HR Technologist explores two examples of HR departments that were able to see real results after switching their previously paper-based processes to a technology service. Check out the case studies here.
This Week in PlanSource | Designer Benefits: Upgrade Your Offering with Voluntary Benefits
Join us for a free webinar where we’ll explore some of the most popular voluntary benefits and the value that they provide to employers who offer them. We’ll discuss the growing demand for voluntary benefits for employees and the ways that employers can meet those demands without a significant hit to their bottom line.
Join us for a free HRCI- and SHRM-approved webinar on Wednesday, October 2 at 2pm ET (11am PT). In this webinar, you will:
- Discover the importance of a robust benefits package that incorporates voluntary benefits for retention, recruiting and engagement
- Discuss some of the most popular voluntary benefits like student loan repayment assistance, flexible vacation policies, paid parental leave and more
- Learn how to select the right voluntary benefits for your workforce without significantly impacting your company’s bottom line
Thought Of The Week
“The ones who are crazy enough to think they can change the world, are the ones that do.” — Anonymous
How are you working to promote positive change?