- Growing Health Savings Account Balances Impact Health Care Access, Increase Spending
When consumers have more in their HSA's, they tend to use it more
Employers have adopted HSA-eligible health plans as a way to manage the cost of providing health benefits to workers and their families. HSA-eligible health plans are expected to make health plan members more cost conscious because they are paying more out of pocket than in traditional health plans.
read more - Empower Retirement lauds House approval of the SECURE Act of 2019
U.S. House of Representatives sends a strong message that retirement policy for working Americans is a top priority
Today the U.S. House of Representatives sent a message with its approval of a bill that reforms retirement policy affecting working Americans. “It’s exciting that retirement policy has garnered bipartisan support from Reps. Richard Neal, D-Mass., chairman of the Ways & Means Committee, and Kevin Brady, R-Texas, the committee’s ranking member, who understand the importance of…
read more - On Vacation? Unplug Already!!
Survey: Half of of professionals check in wth work multiple times a day while on holiday
As the summer vacation season kicks into high gear, a new Korn Ferry (NYSE:KFY) survey shows that disconnecting from the office to enjoy time with friends and family is a tall order for most professionals.
read more - Nearly 24 Million People with Employer Plans Spent Large Shares of Income on Health Care Costs
Louisiana, Maine, and Arkansas had the greatest share of people with high cost burdens because of high premiums
Millions of Americans with employer health coverage are spending large shares of their income on health care costs, according to a new Commonwealth Fund report. The analysis looks at what people in every state report spending on premiums and out-of-pocket costs for medications, copays, and dental and vision care.
read more - Total U.S. Voluntary Market Grows 3% in 2018
Overall participation of employers increased 11%
New annualized premium for voluntary insurance products totaled $7.2 billion in 2018, a 3% increase from 2017 sales results, according to LIMRA’s U.S. Worksite/Voluntary Sales Study. LIMRA defines voluntary benefits as insurance products available at the workplace that are 100% funded by the employees.
read more - Millennials In The Workplace Want Health Insurance, Paid Time Off and Student Loan Forgiveness
Nearly two-thirds of young adult job seekers have student loan debt, with an average of $33,332
This year, it is projected that nearly two million students will graduate with a bachelor’s degree. As they enter the job market and evaluate the employment opportunities before them, student loan debt is weighing on their minds.
read more - Self-Directed 401(k) Investor Balances Rebound in Q1 Following Strong Market Performance
Balances leap an average of 8.7% from Q4 2019
According to Charles Schwab’s SDBA Indicators Report™, an industry-leading benchmark on retirement plan participant investment activity within self-directed brokerage accounts (SDBAs), the average SDBA balance jumped to $267,609 at the end of Q1 2019, an increase of 8.7 percent from Q4 2018, as the markets bounced back from the sharp losses experienced at the end…
read more - Social Security Too Soon?
New study finds many filed for Social Security retirement benefits out of necessity – but they wish they had filed later
New study finds many filed for Social Security retirement benefits out of necessity – but they wish they had filed later Six figures may be at risk over a lifetime Springfield MA (May 14, 2019) – In this first-ever survey to uncover regrets and learnings from those who have filed for Social Security retirement benefits,…
read more - Voya Financial Announces Collaboration with Wellthy to Provide Solutions for Caregivers in the Workplace
New research finds 90% of caregiver employees feel that they lack company support in some areas
Voya Financial, Inc. (NYSE:VOYA), announced today a new collaboration with Wellthy, a health care concierge service focused on helping families care for loved ones with complex, chronic or ongoing care needs (e.g., a parent with dementia, child with autism, spouse with Parkinson’s disease).
read more - In Tight Job Market, Retirement Benefits Seen as “Must-Have” to Recruit and Retain Talent
Still, 93 Percent of Small Businesses Are Unprepared to Make Benefit Decisions
Exceptional employees help support a small-business owner's success. With low unemployment rates and fierce competition for workers, steady work and compensation are not always enough to attract and retain the best talent.
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