To the cheers of small business owners, Congress this month created Health Savings Accounts (HSAs), as described on page 1. That adds a new acronym to the already confusing tangle of tax-advantaged health care spending, which includes FSAs, MSAs, HRAs and more.
Employee Benefits Program
A strong employee benefits program – including low-cost employee incentives, employee recognition programs, and employee appreciation programs – can help you improve morale and retention.
We provide employee appreciation day ideas, help you with employee retention strategies and employee benefits management
If your company offers a retirement plan, the federal government says you must retain a "fiduciary responsibility" over those employee accounts.
Make sure you keep your insurance payments up to date, and never "oversell" the quality or quantity of your employee benefits.
First came tiered drug benefits, in which employees paid higher co-payments for expensive prescriptions. Then came tiered hospital benefits, in which they paid more for costlier facilities. Now, according to the Employee Benefit Research Institute, it's tiered doctor networks.
Benefit: Employees who understand the forces driving up their premiums are more likely to play ...
Risk: Complaints and lawsuits over workers' comp, overtime, discrimination ...