Category Archives: Economy
Number of Uninsured Drivers Increases as Rates Rise 5.9% in H1 2023
By Will Jones As personal auto insurance rates continue to accelerate upward, drivers are at a crossroads. Some are taking to the market to find cheaper rates—while others are choosing to drive without coverage. Auto insurance premiums have increased at … Continue reading
Workers Are Enrolled in HDHPs – Over Half of U.S. Private-sector
More than half (55.7%) of American private-sector workers were enrolled in high deductible health plans (HDHPs) in 2021, according to the Kaiser Family Foundation’s recent 2022 Employer Health Benefits Survey. The 5.3% increase from 2020 is the highest on record, … Continue reading
Study Reveals Americans’ Top Health Priorities
Study Reveals Americans’ Top Health Priorities New survey research reveals that Americans believe the government’s top public health priority should be lowering costs for health care and prescription drugs. The market firm Ipsos and news website Axios teamed up for … Continue reading
IRS Releases Final Rule to Fix ACA’s Family “Glitch”
On October 13, 2022, the IRS finalized regulations (the “Final Rule”) intended to revise the method of determining affordability under the Affordable Care Act (ACA) for an employee’s family members by considering whether the coverage offered by the employer to … Continue reading
The Great Reconsideration: Looking Ahead to the Next Stage of the Labor Market
The labor market continues to be unpredictable and driven by new challenges. As such, economists have signaled that the labor market is moving into another phase. Previously, there have been trends labeled as the Great Resignation and the Great Reshuffle. … Continue reading
Inflation Reduction Act Contains Some Health Reforms
On Aug. 12, 2022, the U.S. House of Representatives passed the Inflation Reduction Act. President Joe Biden is expected to sign it into law shortly. While this bill is primarily aimed at fighting inflation and reducing carbon emissions, it also … Continue reading
2023 Open Enrollment Checklist
To prepare for open enrollment, group health plan sponsors should be aware of the legal changes affecting the design and administration of their plans for plan years beginning on or after Jan. 1, 2023. Employers should review their plan documents … Continue reading
Proposed Overtime Rule Expected in October 2022
In its recent spring regulatory agenda, the U.S. Department of Labor (DOL) announced its plans to issue a proposed overtime rule in October 2022. According to the agency’s regulatory agenda, this proposed rule is expected to address how to implement … Continue reading
Combating Rising Benefits Costs During Periods of High Inflation
The U.S. inflation rate has increased by 8.3% over the last year, according to the Bureau of Labor Statistics (BLS). This has led to significant price increases across various consumer goods as well as employee benefits such as health insurance. … Continue reading
How to Make Enticing Learning and Development Programs
Workplaces are currently facing a variety of challenges. One of the most pressing concerns is employee voluntary resignation; many entry-level, retail and hospitality workers are quitting in record numbers. However, this problem is affecting virtually every industry. Certain employers are … Continue reading
