Benefits Insights from 2024: Key Data, Statistics, and Takeaways

December 19, 2024

Prefer to listen instead of read? No problem! Listen to the blog post by clicking here.      Employee benefits help employees feel valued and supported, balance work and personal life, boost mental and physical wellness, and provide support during times of need.    Benefits for 2024 trended toward what is termed “The Big Stay” or “The Great Stay.” This means fewer employees voluntarily left their jobs in 2024, with the quit rate in the United States standing at 1.9%, compared to The Great Resignation at the beginning of the pandemic when the quit rate stood at about 4.5 million employees leaving their jobs monthly.   This article examines key employee benefits statistics from 2024, breaking down what these numbers reveal about employee needs and organizational priorities. 

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2025 Health FSA Inflation Adjustments

December 12, 2024

  The Internal Revenue Service recently issued Revenue Procedure 2024-40, which establishes various 2025 tax-related limits that have been adjusted for inflation. The table below identifies updates to the 2025 health and fringe benefit plans addressed in this notice. The health flexible spending account (health FSA) employee contribution limit, carryover limit, and maximum qualified small employer health reimbursement arrangement (QSEHRA) employer contribution are annual amounts that apply once a plan starts/renews in 2025.1 The adoption assistance program limit is an annual maximum that applies for the 2025 calendar year, while the transportation benefit is a monthly threshold that also applies for the 2025 calendar year.   Benefit  2024  2025  Maximum Employee Contribution to a Health FSA  $3,200  $3,300  Health FSA Carryover Limit  $640  $660  Adoption Assistance Program  $16,810  $17,280  Maximum Annual Employer Contribution to a QSEHRA  $6,150 (self-only coverage)  $12,450 (family coverage)  $6,350 (self-only coverage)  $12,800 (family coverage)  Maximum Monthly Benefit for Qualified Transit Passes, Van Pool Services, and Qualified Parking  $315  $325   

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Turning Data into Loyalty: How to Improve Customer Retention and Trust

December 5, 2024

The tech industry perfected the art of using data to enhance user experiences, drive loyalty, and turn customers into advocates. But you don’t need cutting-edge algorithms or a team of data scientists to do the same for your business. Whether you own an established business or are a new, growing employer, applying straightforward, intentional data collection and customer feedback analysis can elevate the customer experience, boost retention, and turn clients into raving fans and brand evangelists.

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Medical supplies including a stethoscope, pills, a blister pack of capsules, syringe, face mask, notepad, digital thermometer, a cup of coffee, and eyeglasses arranged on a turquoise background.

Regulatory Remix

November 21, 2024

The federal agencies released several pieces of guidance over the last couple weeks, primarily focused on expanding and clarifying preventive coverage for HSA-eligibility and coverage with no cost-sharing as required under the Affordable Care Act (ACA). The various guidance is summarized below.  

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Working With vs. Working For: Why It Matters

November 14, 2024

At first glance, having someone work for you and having someone work with you might seem like the same thing. After all, the job gets done either way, right? But when you dig deeper, this difference can transform your team’s productivity, spark creativity, and fuel long-term success. It’s not just semantics—it’s a shift that can redefine your entire approach to leadership.

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Compliance Corner Webinar:  The Top 10 Compliance Topics You Must Know (or Do) for 2025

November 7, 2024

A lot has happened (or simply been a hot topic of discussion) this year in benefits compliance.   Join us as we wrap up the Top 10 compliance topics you need to add to your to-do list or update going into 2025.

We will cover topics as newsworthy as the final Mental Health Parity rules and more niche topics like new notice requirements you may have missed.

In the fast-paced and always-changing landscape of benefits compliance, it may feel like keeping up is the hardest part. But we’ve got you! We’ll break down the Top 10 things you need to know for the next year and why you need to focus on these changes for your plans.

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