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Associated Benefits and Risk Consulting - Strategic Planning

RELATED RESOURCES

IRS “cost of living” adjustments for employee benefit plans

At USI, we are dedicated to helping employers stay on top of fast-changing legislative and regulatory developments and guidance related to health and welfare plans that could impact your business. Here we are sharing information on the recent IRS “cost of living” adjustments for 2021 that may affect your employee benefit plans.

Making the transition to virtual open enrollment

No one understands better than the person who administers benefits about the difficulty of open enrollment season. It was hard enough ambushing employees in the workplace to remind them that they need to submit their packets. Let’s not even talk about the headache of creating multiple schedules so that employees can take physical breaks from work and listen to benefits presentations. Now, administrators must figure out the best way to get the packet to the eligible employees in the first place.

Non-traditional benefits for non-traditional times

Each year, our team presents trends in emerging and non-traditional benefits. This year we are forging ahead as usual, but we recognize that these are unusual times. The “emerging” trend appears to a renewed interest in the benefits that we think of as more or less traditional like PTO, dependent care assistance programs, and telemedicine. New benefit offerings that have been on the “fringes,” like Individual Coverage HRAs (aka “ICHRAs”), are getting more interest than ever. And strategies for cost-cutting in benefit plans take on new resonance as companies face the economic headwinds caused by the COVID-19 national emergency.