Word on Benefits

PBM Reform Momentum Heats Up

Amanda Wilke

08 Jun 202308 Jun 2023

The fight to lower prescription drug costs is underway. Congress has introduced a handful of bipartisan bills aiming to tackle drug prices by increasing transparency on pharmacy benefit managers (PBMs) and their practices that increase drug prices for group health plans. Congressional […]

Diversity and Inclusion Employee Benefits Paid Leave

Juneteenth Continues to Grow as a Paid Holiday Offering

Cara McMullin

07 Jun 202307 Jun 2023

Juneteenth has been celebrated by African Americans since the late 1800s. In June of 2021, President Biden signed a bill establishing Juneteenth as a new federal holiday. Juneteenth National Independence Day is the 12th legal public holiday in the United States and is the […]

Employee Benefits Financial Education Financial Education (U.S.) Financial Wellness

That’s the Way Financial Caregiving Goes

Stacy Van Alstyne, CEBS

06 Jun 202306 Jun 2023

One of my good friends recently asked me to go to a Janet Jackson concert with her. I weighed the thrill of dancing along with Janet to the memorized choreography of “Miss You Much” versus a good night’s sleep. A good night’s […]

Communication Employee Benefits Employee Benefits Survey Human Resources (HR) Paid Leave Paid Time Off (PTO) U.S. Vacation Wellness Work Life Balance

Hot Summer Topic—PTO and Vacation Benefits

Bella Tomaw

02 Jun 202302 Jun 2023

Whether it’s a family road trip with fruit snacks and beef jerky, getting another stamp or two on your passport, or enjoying your own community with a staycation, time off is a hot topic for many employees across the United States as […]

Employee Benefits Mental Health U.S.

Can Your Plan Clear Mental Health Parity Compliance Hurdles?

Kathy Bergstrom, CEBS

01 Jun 202301 Jun 2023

Many health plan sponsors continue to struggle to comply with the Mental Health Parity and Addiction Equity Act (MHPAEA). It’s a continuing concern because the Department of Labor (DOL) has placed an emphasis on auditing plans for compliance. Health plans looking for […]

Communication Compliance Employee Benefits Legislative Regulatory

What Retirement Plan Sponsors Need to Know About Spousal Consent and Remote Witnessing

Jenny Gartman, CEBS

25 May 202325 May 2023

The Treasury Department and the Internal Revenue Service (IRS) temporarily allowed, in light of COVID-19 pandemic restrictions, electronic alternatives to physical presence requirements for retirement plan participants’ elections that required spousal consent. The two allowed alternatives were remote witnessing by notaries public […]

Employee Benefits

Legal & Legislative Reporter: Wrongful-death Proceedings Under an ERISA Plan

Tim Hennessy

24 May 202324 May 2023

Every month, the International Foundation releases the Legal and Legislative Reporter, a compilation of new employee benefits-related case summaries. Below is a summary we thought you’d be interested in. Content provided by Morgan, Lewis & Bockius LLP. The U.S. District Court for the […]

Employee Benefits

Forfeiture Guidance for Retirement Plan Sponsors

Amanda Wilke

23 May 202323 May 2023

On February 27, 2023, the Internal Revenue Service (IRS) issued a proposed rule to clarify the use of forfeitures in qualified defined contribution (DC) and defined benefit (DB) retirement plans. The rule would take effect for plan years beginning on or after […]

Employee Benefits Mental Health

Trauma in Organizations: Mental Health

Cara McMullin

18 May 202318 May 2023

Employers cannot guarantee that employees will never be exposed to trauma in the workplace. However, they can take action to help prevent the most debilitating effects of exposure to trauma by adequately preparing employees. Preparation includes both the ability to respond in […]

Employee Benefits Employee Benefits Survey Flexible Work Options Health Care

Workplace Benefits Valedictorians: The Graduating Class of 2023 Wants These Benefits

Tim Hennessy

17 May 202317 May 2023

When it comes to employee benefits, tried-and-true offerings like employer-paid health insurance and matching retirement savings plan contributions have remained at the head of the class among soon-to-be U.S. and Canadian college graduates over the years. According to a survey from The […]