Tag Archives: Insurance
Why auto insurance costs are rising at the fastest rate in 47 years
As car prices moderate from a pandemic-era surge, insurance has pushed the cost of car ownership to the brink for many Americans. New data out on Wednesday from the Bureau of Labor Statistics showed auto insurance costs last month were 22.2% higher … Continue reading
Insurance Explained: : What Are “Named Perils”?
When it comes to home insurance, policies can come with a lot of industry jargon. But it’s important to understand the different terms and coverage options available. One common term you may come across is “Named Perils.” These are specific … Continue reading
Health Care Costs Projected to Grow 7% in 2024
Health care costs are expected to grow 7% in 2024 due to rising pharmaceutical expenses driven by specialty drugs and insurers increasing rates in response to inflation, according to an annual report from professional services firm PricewaterhouseCoopers (PwC). This trend … Continue reading
What Is Loss of Use Coverage in Homeowners Insurance?
Imagine your home is damaged and you have no choice but to temporarily leave it while repairs are underway. The question arises: Where would you stay? Will the cost of a hotel or temporary apartment fit into your budget? This … Continue reading
Strategies for Identifying and Resolving Gaps in Benefits Offerings
In today’s competitive employment landscape, many organizations recognize that employees are their most valuable asset. To attract and retain top talent, employers must go beyond competitive salaries and create holistic and meaningful employee benefits packages that address diverse workforce needs. … 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
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
HR’s Role in Preventing Cyberattacks
Cyberattacks are a growing concern for employers across the globe but especially for those in the United States. According to the Identity Theft Resource Center, the number of reported U.S. data breaches rose 68% between 2020 and 2021, increasing to … Continue reading
Agencies Issue Guidance on Coverage of OTC COVID-19 Tests
On Jan. 10, 2022, the Depts. of Labor, Health and Human Services (HHS), and the Treasury issued FAQ guidance regarding the requirements for group health plans and health insurance issuers to cover over-the-counter (OTC) COVID-19 diagnostic tests. Legal Requirements Plans … Continue reading
UNDERSTANDING THE FLU SEASON AND COVID-19
This year’s influenza (flu) season is expected to be active amid the COVID-19 pandemic. Flu season usually begins in October and peaks between December and February. As we’re amid the second flu season during the pandemic, it’s even more important … Continue reading
