Barran Liebman LLP’s Post

Statutory benefits are benefits mandated by law that employers must provide to their employees. Learn more about these benefits and how they can help your workforce in this informative guide: https://lnkd.in/gRyKz-xs #employeebenefits #benefitspackage

Great insight from Lexology recapping the Fifth Circuit allowing the certification of a class action suit. The Fifth Circuit panel also affirmed that the participants in over 3,000 benefit plans at more than 2,000 employers had standing to pursue their claim against the benefits administration companies. Yikes!

👿 The devil is in the details---Cash In Lieu of Benefits! A common request from employers that are reviewing their employer contribution strategy, "can provide cash to employee if they waive benefits". The answer is yes...however, it needs to be strategic and defined when adding this to your strategy. Keenan published this excellent overview, outlining what you need to consider if implementing this strategy. I always advise clients to make sure their benefits and contribution strategy is not discriminatory! https://lnkd.in/gHtxFfJ7

The International Foundation of Employee Benefit Plans (IFEBP) put together a helpful watchlist detailing how #Election2024 could affect #pharmacybenefits. It even has a section specifically for #plansponsors, detailing what they should watch with regard to state policy issues and and tax measures. Check out the entire watchlist here: https://okt.to/WglGjR

The International Foundation of Employee Benefit Plans (IFEBP) put together a helpful watchlist detailing how #Election2024 could affect #pharmacybenefits. It even has a section specifically for #plansponsors, detailing what they should watch with regard to state policy issues and and tax measures. Check out the entire watchlist here: https://okt.to/fD1bUS

Benefits matter! It doesn't require a bigger budget to offer benefits; but offering a rich package of choices will help retain your best employees. Let us educate your employees about their choices and how they can help decrease or eliminate copays and deductibles when they become sick or injured.

Good insights here from LIMRA regarding how employees are figuring the costs of benefits into their budgeting. Not great news - people want to spend less on benefits. And if we believe other surveys, employees want more benefits. Seems like a challenging riddle... #benefits #groupbenefits #groupinsurance Guy Carpenter https://lnkd.in/eXy9e5Rm

Did you know: Approximately 1 in 2 employers plan to review long-term care options in 2024, AND long-term care ranks as the #1 fastest growing voluntary benefit employees would like to see their employer offer. (Buck 2024 Wellbeing and Voluntary Benefits survey and the Journal of Accountancy) #ltc, #ltci, #longtermcare, #voluntarybenefits, #humanresources https://lnkd.in/enETw2bV

Interesting survey results covering Gen Z employees’ perspective on voluntary benefits. Getting voluntary benefits right for Gen Z https://ow.ly/NIAA30sBUnw