Gaining access to plan claims data and expenditures can help employers identify their plan’s main cost drivers and any under- or overutilization. Employers whose plans are spending less than average can use that information as leverage if they want to negotiate for better rates or plan structure. But how much data an employer can…
Growing companies often overlook the importance of properly managing their risk. Increased activity can result in additional losses. For example, more trucks driving more miles may result in more accidents. However, other kinds of risk can increase more than the jump in business activity. We look at three such areas here. Workplace safety Typically,…
Voluntary benefits have emerged as a key differentiator for small businesses looking to stay competitive in attracting and retaining employees. These benefits, which are offered in addition to group health insurance and 401(k) plans, allow employees to opt in to coverage that fits their unique needs, often with little or no cost to the employer.…
As commercial property insurance rates have climbed steadily in the last five years, insurers have been increasing deductibles, sometimes for all risks, but sometimes for specific perils, such as hail. Often, business owners fail to notice these increased deductibles until they file a claim. Sometimes, their dollar-amount deductible has been replaced by a deductible that…
Poor health insurance literacy among plan enrollees costs both them and plan sponsors billions of dollars each year, according to a new report by Cigna Healthcare. According to the report, Americans with poor knowledge of how their health insurance works are twice as likely to be stressed about their health, which can worsen any health…
The Department of Labor on May 1, 2025, announced it would no longer enforce a Biden-era rule on independent contractors, setting the stage for a drastic overhaul that will likely result in a more employer-friendly regulation. While the DOL reviews the rule, which has been in effect since March 2024, it announced in a field…
The “Big Beautiful” tax bill being debated in Congress has several provisions that would make major changes to rules governing individual coverage health care reimbursement arrangements and tax-advantaged health savings accounts. Many of these changes would benefit both employees and employers. The legislation has not yet been signed into law and could undergo significant changes…
Cal/OSHA has released draft language that would require employers of outside workers to take additional steps to ensure their safety when working in high heat conditions. The proposed rules were written to implement legislation — AB 2243 — signed into law in 2022 to address heat and wildfire smoke protections for workers. The draft rules,…
The IRS has announced slightly higher health savings account contribution limits for 2026, with the amount increasing 2.3% for individual HSA plans. The IRS updates this amount annually, along with minimum deductibles and out-of-pocket maximums for high-deductible health plans. HSAs, which help employees save for medical expenses, are only available to those enrolled in qualified…
President Trump’s far-reaching tariffs are starting to bleed into building costs as many of the main materials used in construction are now subject to import taxes. And as construction costs increase due to tariffs, so does the cost of repairing or replacing materials if damage occurs during construction. Rising repair and replacement costs make claims…