Current and Past Articles

On September 6th, 2024, the Department of Labor (DOL) issued a press release reminding ERISA plan fiduciaries that it considers cybersecurity to be an area of “great concern.” Due to a rash of cybersecurity incidents, the DOL has increased its investigations of violations in this area. The DOL also published updated cybersecurity guidance that builds on documents the Department released in 2021. Most importantly, these new publications clarify that the DOL’s cybersecurity guidelines apply to all types of ERISA plans, including health and welfare plans.

Many sponsors of fully insured health plans either already have or will soon receive checks from their insurance carriers, along with a notice informing them that the review is a medical loss ratio (MLR) rebate. Plan sponsors should have received these checks by September 30, 2024. The MLR rules implemented as part of health care reform are designed to ensure that insurance carriers spend no more than a specified percentage of premiums collected on overhead-type expenses. Carriers must issue a rebate check when this percentage is exceeded.

If a plan sponsor receives an MLR rebate, they typically have a fiduciary responsibility to manage the funds according to specific guidelines. The following section briefly overviews the administrative rules plan sponsors should follow when processing these carrier rebates.

Diversity, Equity, and Inclusion (DEI) initiatives have become a major focus for organizations seeking to create more inclusive and equitable workplaces. While some companies, like Salesforce and PayPal, have embraced efforts to drive positive change, others, like Tractor Supply and John Deere, are backing away from DEI altogether. In contrast, companies like Meta, Google, and Microsoft have quietly dialed back their DEI efforts. Microsoft, for instance, claims its commitment to Diversity and Inclusion (D&I) remains unchanged, yet this ignores the broader concept of Equity. This raises concerns about the future of workplace culture—and, more broadly, about humanity. Moving away from DEI may signal to others that the company is moving away from kindness, respect, and inclusion. Without these guiding principles, organizations can struggle to connect with team members and balance the needs of diverse groups while maintaining their values and integrity.

Offering and providing flexible, customizable employee benefits can enhance employee satisfaction with your benefit plan, and allows employees to tailor their benefits so they can get the most out of your investment—which is great for both them and you. That’s where Lifestyle Spending Accounts (LSAs) come in. LSAs help companies support employee wellness, work-life balance, and job satisfaction. Let’s delve into the whats and whys of LSAs.

What are Lifestyle Spending Accounts?
An employer-funded LSA account supports employees’ lifestyle and wellness needs. While LSAs sound similar to Health Spending Accounts (HSAs) or Flexible Spending Accounts (FSAs), they differ slightly. HSAs and FSAs are more focused on medical expenses, while LSAs are designed to cover non-medical lifestyle expenses.

In today’s fast-paced work environment, it’s easy for teams to get caught up in the grind, constantly pushing forward without pausing to consider how they’re performing. However, without taking time to reflect, teams can fall into habits that slow growth and prevent them from reaching their full potential. The highest-performing teams don’t just react—they regularly reflect on their actions, decisions, and dynamics.

Self-reflection doesn’t always get the attention it deserves, but it’s a game-changer for teams looking to improve. When teams make space to analyze what’s working and what isn’t, they gain clarity on how to move forward, make sharper decisions, and collaborate with more purpose. Teams that practice self-reflection become more resilient, emotionally intelligent, and aligned with their long-term goals.

Here’s how self-reflection can strengthen your team’s resilience, emotional intelligence, and continuous growth.

Prefer to listen instead of read? No problem! Listen to the blog post at any time by clicking here.   The Departments of the Treasury, Labor, and Health & Human Services released much anticipated final rules further clarifying and implementing the requirements related to the Mental Health Parity and Addiction Equity Act (MHPAEA). The goal of the MHPAEA is to make sure that health plans cover mental health (MH) and substance use disorders (SUD) fairly. The law and its related regulations require all applicable plans to ensure that any plan’s financial requirements and coverage terms related to MH/SUDs are “in parity” with (meaning no more restrictive than) the requirements related to substantially all medical/surgical (M/S) services in the same benefit category.