journal
https://read.qxmd.com/read/29465196/the-hsa-in-your-future-defined-contribution-retiree-medical-coverage
#21
JOURNAL ARTICLE
Jack M Towarnicky
In 2004, when evaluating health savings account (HSA) business opportunities, I predicted: "Twenty-five years ago, no one had ever heard of 401(k); 25 years from now, everyone will have an HSA." Twelve years later, growth in HSA eligibility, participation, contributions and asset accumulations suggests we just might achieve that prediction. This article shares one plan sponsor's journey to help employees accumulate assets to fund medical costs-while employed and after retirement, It documents a 30-plus-year retiree health insurance transition from a defined benefit to a defined dollar structure and culminating in a full-replacement defined contribution structure using HSA-qualifying high-deductible health plans (HDHPs) and then redeploying/repurposing the HSA to incorporate a savings incentive for retiree medical costs...
2016: Benefits Quarterly
https://read.qxmd.com/read/29465195/health-savings-accounts-an-emerging-cornerstone-of-the-health-wealth-bridge
#22
JOURNAL ARTICLE
Allen T Steinberg
Several trends may help make health savings accounts (HSAs) a ubiquitous part of Americans' financial planning. When one looks at the totality of factors, it is easy to see how HSAs can become a vital connection be- tween active and retiree health care needs and between retirement income and retiree medical needs. However, it is also easy to see the clouds over the horizon that could stall HSA growth in coming years. This article discusses both.
2016: Benefits Quarterly
https://read.qxmd.com/read/29465194/workplace-financial-wellness-programs-help-employees-manage-health-care-changes
#23
JOURNAL ARTICLE
Cynthia Meyer, Michael C Smith
Employers and employees are navigating major changes in health insurance benefits, including the move to high-deductible health plans in conjunction with health savings accounts (HSAs). The HSA offers unique benefits that could prove instrumental in helping workers both navigate current health care expenses and build a nest egg for much larger health care costs in retirement. Yet employees often don't understand the HSA and how to best use it. How can employers help employees make wise benefits choices that work for their personal financial circumstances?...
2016: Benefits Quarterly
https://read.qxmd.com/read/29465193/ideas-for-improving-retirement-wellness
#24
JOURNAL ARTICLE
Anna M Rappaport
Employers can and should take steps to support retirement and financial wellness. This article provides a framework for retirement wellness informed by research conducted or supported by the Society of Actuaries. Research insights about Americans' finances, planning, decisions, money management, debt, retiree income shocks and other areas point to ways employers can provide retirement wellness support as a vital part of an overall benefit program. The author suggests several key considerations employers should pay attention to in order to improve retirement wellness...
2016: Benefits Quarterly
https://read.qxmd.com/read/29465175/disability-benefits-plan-s-notice-of-denial-defective
#25
JOURNAL ARTICLE
(no author information available yet)
No abstract text is available yet for this article.
2016: Benefits Quarterly
https://read.qxmd.com/read/29465174/erisa-preemptions-in-health-plans
#26
JOURNAL ARTICLE
(no author information available yet)
No abstract text is available yet for this article.
2016: Benefits Quarterly
https://read.qxmd.com/read/29465173/collaborative-employee-wellness-living-healthy-with-diabetes
#27
JOURNAL ARTICLE
Joan McGarvev Hovatter, Catherine E Cooke, Magaly Rodriguez de Bittner
Innovative approaches to managing an employee population with a high prevalence of type 2 diabetes mellitus can mitigate costs for employers by improving employees' health. This article describes such an approach at McCormick & Company, Inc., where participants had statistically significant improvements in weight, average plasma glucose concentration (also called glycated hemoglobin or A1c) and cholesterol. A simulation analysis applying the findings of the study population to Maryland employees with a baseline A1c of greater than 6...
2016: Benefits Quarterly
https://read.qxmd.com/read/29465172/examining-the-evolution-of-paid-parental-leave
#28
JOURNAL ARTICLE
Carol Sladek
While the United States continues to be the only developed nation without mandated paid maternity leave, U.S. employers are blazing their own trail for new parents. This article defines parental leave, explains what's driving the increased interest in paid parental leave among employers offering it and discusses how paid parental leave can benefit employers and employees alike. Finally, the author discusses why not all employers are offering these benefits as well as considerations for employers contemplating whether paid parental leave is right for them...
2016: Benefits Quarterly
https://read.qxmd.com/read/29465171/evaluating-the-investment-potential-of-hsas-in-benefit-programs
#29
JOURNAL ARTICLE
James LaFleur, Liana Magner, Sander Domaszewicz
Despite its complexities, the health savings account (HSA) is a powerful and growing element of the U.S. financial landscape. In the future, employers will likely be expected to provide tax-advantaged savings programs for employees' current and future medical expenses. This article discusses investment lineup issues that must be addressed in order to optimize HSAs to help participants achieve successful outcomes. Plan sponsors at the forefront of addressing these issues (and perhaps others) will be in a better position to help their employees maximize both the health benefits and the wealth benefits provided for a secure retirement...
2016: Benefits Quarterly
https://read.qxmd.com/read/29465170/the-importance-of-preserving-tax-preferred-status-for-employer-sponsored-health-and-retirement-plans
#30
JOURNAL ARTICLE
Annette Guarisco Fildes
The future of employer-sponsored health and retirement plans may be at risk. For years, employers have struggled to maintain and pay for these plans despite the increasing compliance and financial burdens imposed by legislative and regulatory action. Now, as Congress begins to lay the foundation for comprehensive tax reform, the need to raise federal revenue may trump the continuation of the tax preferences for employer-provided health and retirement benefits. Recent actions illustrate that the drive for federal revenue may not be sufficiently tempered by the potential negative impact on employers and employees who must bear the brunt of these revenue-induced changes...
2016: Benefits Quarterly
https://read.qxmd.com/read/27491142/pharmacies-denied-injunction-against-pharmacy-benefit-manager-grasso-enterprises-llc-v-express-scripts-inc-809-f-3d-1033-8th-cir-jan-11-2016
#31
JOURNAL ARTICLE
(no author information available yet)
No abstract text is available yet for this article.
2016: Benefits Quarterly
https://read.qxmd.com/read/27491141/engagement-and-empowerment-through-self-service
#32
JOURNAL ARTICLE
Jason Endriss
Self-service tools represent the next frontier for leave and disability. This article discusses several critical com- ponents of a successful leave and disability self-service tool. If given the proper investment and thoughtfully designed, self-service tools have the potential to augment an organization's existing interaction channels, im- proving the employee experience while delivering efficiencies for an administrative model. In an operating en- vironment in which cost savings sometimes are at the expense of employee experience, such a win-win solution should not be taken lightly and, more importantly, should not be missed...
2016: Benefits Quarterly
https://read.qxmd.com/read/27491140/don-t-let-disability-derail-long-term-financial-security-enhancing-retirement-security-in-a-dc-world
#33
JOURNAL ARTICLE
Anna M Rappaport
Long-term disability (LTD) protection, such as a defined contribution (DC) disability supplement, is critical for good long-term security in a DC environment. For those with a strong LTD program already in place, this challenge can be addressed by providing a DC disability benefit that replaces DC contributions during periods of LTD. If there is no LTD program, that is needed first. Appropriate disability coverage is vital if the DC system truly is to deliver long-term retirement security. This article discusses issues in achieving such coverage and provides ideas to help in developing programs...
2016: Benefits Quarterly
https://read.qxmd.com/read/27491139/a-generation-with-income-to-protect
#34
JOURNAL ARTICLE
Amy C Friedrich
From an employee benefits perspective, generational differences undoubtedly play a big role in not only how to communicate with employees about their benefits but what benefits to offer. Yet while there's been a lot of talk about how to reach other generations, information about connecting with Generation X is harder to come by. This article discusses the state of Generation X's unique income protection and financial concerns. The author shows how offering income protection to Generation Xers not only helps them deal with today's expenses and prepare for the future but can also help employers meet business objectives such as attracting and retaining top talent...
2016: Benefits Quarterly
https://read.qxmd.com/read/27491138/integrated-disability-management-implementing-a-customized-whole-person-approach
#35
JOURNAL ARTICLE
Phil Bruen
This article describes how incorporating integrated disability management can address business challenges. It includes case studies featuring organizations that used a "whole-person approach" to result in (1) greater and more effective communication and reporting, (2) more satisfied and productive employees and (3) cost savings through quicker return to work when legally and medically appropriate, all in alignment with the particular needs of a given firm. One size most definitely does not fit all...
2016: Benefits Quarterly
https://read.qxmd.com/read/27017797/helping-dc-plan-participants-hedge-longevity-risk
#36
JOURNAL ARTICLE
Roberta Rafaloff
To help retirees turn savings into a steady, permanent income stream they won't outlive, the U.S. Treasury Department has made it easier for defined contribution plans to offer qualifying longevity annuity contracts (QLACs). This article explains the features of QLACs and why both employees and employers are finding this type of insurance an attractive option, as it protects people against their greatest risk in retirement--longevity. The author provides five steps a plan sponsor needs to take to add a QLAC...
2016: Benefits Quarterly
https://read.qxmd.com/read/27017796/mythbusters-the-case-for-retirement-income-in-dc-plans
#37
JOURNAL ARTICLE
Ron Austin, Steve Shepherd
Myths persist about retirement income solutions in defined contribution (DC) plans. The authors put six common myths to the test: (1) that few plans offer a retirement income option, (2) that retirement is solely a product decision, (3) that retirement income options lack fiduciary clarity, (4) that it's difficult to implement a retirement income option, (5) that retirement income options can be viewed similarly to an asset class and (6) that retirement solutions are too difficult to communicate to participants...
2016: Benefits Quarterly
https://read.qxmd.com/read/27017795/how-to-open-the-door-to-the-roth-401-k-savings-opportunity
#38
JOURNAL ARTICLE
Jamie Knopping
For many employees, Roth 401(k) contributions are a smart move toward strengthening retirement readiness, yet they remain markedly underused. Employers should consider providing the option, educating employees on its value and providing a good modeling tool to help plan participants make the Roth decision. Doing so could both increase overall 401(k) participation and lead employees to save more for retirement--which would help the enterprise meet organizational goals by maintaining high employee engagement and productivity levels and reducing talent-related risk...
2016: Benefits Quarterly
https://read.qxmd.com/read/27017794/getting-the-horse-to-drink
#39
JOURNAL ARTICLE
Jerry Patterson
Most employers understand the frustration of seeing their employees pass up retirement savings opportunities. This article reviews the problem of insufficient retirement savings and describes simple plan design features that can make it easier for employees to do what's best for their financial futures. The author provides a case example showing what impact such changes can have on participation, deferral rates and account balances.
2016: Benefits Quarterly
https://read.qxmd.com/read/27017793/are-your-employees-retirement-ready
#40
JOURNAL ARTICLE
Alan H Vorchheiner, Cynthia O Zaleta
Much of the discussion on the decumulation phase of retirement savings has focused on the lack of any lifetime annuities. But there is a whole range of options sponsors can employ to facilitate the generation of retirement income and bolster financial wellness. As U.S. employers show no sign of substantially increasing spending on compensation or benefits, it is imperative that human resources professionals help employees--particularly the retiring baby boomers--to maximize what they have saved. This article presents five first-step ideas toward achieving that goal...
2016: Benefits Quarterly
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