In 1978, an unlikely combination of tax reform legislation and a desire to save on medical costs gave rise to the Flexible Spending Account (FSA), a key employee fringe benefit still commonly used today. For most individuals with employer-funded health plans, a flexible spending account is a flexible spending arrangement where employees enjoy pre-tax savings Read more…
Category: Benefits Strategy
;Best practices and insights about how to design and run your company’s wellness benefits program.
Benefits Strategy
Employee Fringe Benefits: Why They Matter and 10 Benefits Your Company Should Offer
Today’s job market is fiercely competitive. Attracting and retaining talent has never been more challenging. Be it the result of the Covid-19 pandemic or the ‘Great Resignation’ trend, top talent know their worth and require more than just a competitive salary. They seek meaningful perks that go beyond the standard paycheck. This is where employee Read more…
Benefits Strategy
What are Employee Perks and Are They Important?
There was a time when hefty paychecks alone were the ideal talent magnets to attract, retain, and motivate in-demand industry professionals. However, the job landscape has changed dramatically, and fringe benefits such as employee perks are becoming an increasingly non-negotiable part of the overall employee work experience. These perks keep employees happy, helping you build Read more…
Benefits Strategy
9 Types of Biometrics and Why They Are Essential to Your Wellness Program
A successful wellness program aims to enhance employees’ holistic health and well-being, whether physically or mentally. On the physical side, this involves health screenings to monitor key health metrics such as weight, blood pressure, cholesterol levels, and sleep patterns. In the past, this process was tedious and manual. However, technology now allows providers to record Read more…
Benefits Strategy
What are Health Screenings and Why are They So Important?
Early disease detection and treatment is why more people live much longer. Each year, around 1.7 million people die of complications from chronic illnesses, like blood pressure and cancer, that doctors can successfully treat with early diagnosis. Chronic diseases account for approximately 90% of the $4.1 trillion annual healthcare costs in the United States, impacting Read more…