Understanding the Evolution of Benefits Management in Today's Business Landscape In today's business environment, benefits administration has evolved far beyond the traditional annual enrollment period. As businesses face increasing challenges in attracting and retaining skilled workers, maintaining competitive benefits [...]
The Evolution of Benefits Administration: A Game-Changing Solution In today's complex business environment, managing employee benefits can consume up to 30% of HR professionals' time. The NARFA Benefit Center stands as a revolutionary hub that transforms this challenging [...]
Key TakeawaysNew age-based catch-up contribution limits for workers 60-63Updated thresholds for retirement accounts and HSAsInflation-adjusted welfare and retirement benefit limitsChanges implemented under SECURE 2.0 ActUnderstanding the 2025 IRS Benefit UpdatesThe Internal Revenue Service (IRS) has released its annual update [...]
The Rising Tide of Healthcare Costs In recent years, employees across various industries have experienced a significant uptick in their out-of-pocket costs for health coverage. This trend shows no signs of slowing down as we head towards 2025, [...]
Beginning January 1, 2025, Connecticut’s paid sick leave law—which currently covers employers with 50 or more employees in the state and only applies to service workers—will be significantly expanded to cover almost all employees and employers. Below are some [...]
Are rising health insurance costs eating into your small business's budget? Are your employees struggling to afford quality healthcare? Individual Coverage Health Reimbursement Arrangements (ICHRAs) might be the solution you've been searching for. What are ICHRAs? ICHRAs (pronounced [...]
In today's complex regulatory environment, businesses in the automotive, roads, fuel, and related industries face unprecedented challenges in managing employee benefits. Recent studies show that compliance issues are a growing concern for companies of all sizes. According to a [...]
If your business offers health insurance benefits to employees, you've likely heard of alternative funding models like self-funding or level-funding. But what exactly do these alternative approaches entail, and why are more employers considering them instead of traditional fully-insured [...]
The U.S. Department of Labor (DOL) recently announced the finalization of its overtime rule, significantly impacting how employers classify employees as exempt from overtime pay requirements under the Fair Labor Standards Act (FLSA). This new rule takes effect in [...]
The annual open enrollment scramble is a familiar scene for many HR professionals. But what if there was a better way? Recent trends point toward a shift in employee benefits communication, moving away from a one-size-fits-all approach and [...]
