Knowlton News Archives - Page 3 of 12 - Knowlton Employee Benefit Consultants

Employers Look to Improve Health and Benefits Offerings Ahead of 2023 Open Enrollment

Despite the more challenging economic environment, employee turnover rates have not improved significantly. According to the US Bureau of Labor Statistics, 4.2 million people quit their jobs in June 2022, showing little change. To attract and retain...

Zillennials Challenge Traditional Workplace Conventions

MetLife’s 20th Annual Employee Benefit Trends Study shows job satisfaction has tumbled to a two-decade low. Zillennials – who represent the generation born between 1993 and 1998 – exhibit the lowest level of satisfaction. Over five million...

Big Increases in Voluntary Benefits Participation

According to a survey by professional services firm Aon, the number of employers offering voluntary benefits increased by 41 percent from 2021 to 2022. The firm stated that the significant growth results from employers attempting to combat the...

Employers Concerned Over Hybrid Work Model

Employers Concerned Over Hybrid Work Model The shift to a hybrid work model has created new challenges for employers, who must now accommodate remote and on-site employees. According to Littler’s 10th Annual Employer Survey Report 2022, 86%...

Making Changes to Caregiving Benefits in the Era of Hybrid Work

The COVID-19 pandemic has forced many workers to adapt their schedules and work styles to accommodate new childcare and eldercare responsibilities. With offices reopening, many working caregivers are wondering how to best manage their time and...

IRS Increases 2023 HSA and HDHP Contributions

In late April, the IRS announced a significant increase in health savings account (HSA) and high-deductible plan (HDHP) contribution limits prompted by rising inflation. Eligibility for HSAs is also changing as HDHP minimum deductibles rise. HSA...

Remote Working Still Among the Most Desirable Employee Benefits

Employers are finding it increasingly difficult to attract and retain talent due to several factors, including the Great Resignation and demographic issues. The career insights platform Lensa, though, has studied US search trends to figure out what...

Pros and Cons of the 4-Day Workweek

Many workers have cited the fourday workweek as a highly desirable employee benefit. A Qualtrics survey conducted in January found that 92% of people support the concept and believe it would improve their productivity and mental health. It isn’t...

Employers’ Guide to Understanding ERISA

The Employee Retirement Income Security Act (ERISA) provides insurance companies and private employers with guidelines on how to administer retirement and health plans to employees. ERISA was enacted in 1974 and applies to plan years starting on or...

Not Following the Employer Mandate Can Mean Stiff Penalties

Penalties apply not only if coverage isn’t offered – but if the wrong coverage is offered. Under the Affordable Care Act’s (ACA) employer mandate, applicable large employers (ALEs) must offer comprehensive health coverage to full-time...