Have you thought about what would happen if you incurred an injury or illness and didn’t have an income for a few weeks? For some, this would be a hard event to endure.
Health care premiums continue to rise, and employers are looking for innovative ways to curb costs. Self-funding of health insurance is common among large companies – those with at least a couple hundred employees. Yet, few smaller companies have had the opportunity to self-fund health care for their employees.
Flexible Spending Accounts are an easy way to set aside money from your paycheck to help you pay for qualifying medical or dependent daycare expenses, while saving you money on payroll taxes. But Flexible Spending Accounts can seem scary if you don’t understand the rules.
Open Enrollment is that once-per-year opportunity for your employees to tweak benefits plans for the upcoming benefit year. But first, you will have negotiated plan renewals and laid out an open enrollment communication plan.