Self-Funded Health Insurance Pros and Cons: A Complete Guide for Employers
Are you considering alternative health insurance options for your business? Self-funded health insurance has emerged as a compelling choice for employers seeking greater control over their healthcare costs and benefits design. But is it the right fit for your organization? As an experienced benefits consultant who has guided countless businesses through this decision, I’ve seen […]
ERISA Compliance Checklist for Employers to Stay Audit-Ready
As an employer offering retirement or health benefit plans, navigating the complex landscape of ERISA compliance can feel overwhelming. The Employee Retirement Income Security Act (ERISA) establishes critical standards that protect both your business and your employees—yet many organizations struggle to maintain full compliance, potentially exposing themselves to significant penalties and legal complications. Whether you’re […]
How to Create an Employee Benefits Strategy: 7 Easy Steps
In today’s competitive business landscape, attracting and retaining top talent requires more than just competitive salaries. A well-designed employee benefits strategy has become a crucial differentiator for organizations looking to build engaged, productive teams. Whether you’re a small business owner or an HR professional at a large corporation, developing a strategic approach to employee benefits […]
Unlock Employee Benefit Plan Audit Success: Your Ultimate Guide to Compliance & Clarity
Employee Benefit Plan Audit Checklist Navigating the complexities of employee benefit plan (EBP) audits can be daunting. This checklist provides a quick overview of key considerations to ensure your organization is prepared and compliant. An Employee Benefit Plan Audit is crucial for maintaining transparency and adherence to regulatory standards. This checklist covers: Determining audit necessity […]
Employee Benefits Survey Questions: A Strategic Guide for Executives and HR Leaders
In today’s competitive business landscape, employee benefits packages serve as crucial differentiators in attracting and retaining top talent. However, a concerning disconnect exists between employer perception and employee satisfaction. According to Aflac, while 80% of organizations believe their employees are highly satisfied with their benefits, only 58% of employees report high satisfaction. This gap represents […]
Positive Changes Ahead? How Tennessee’s SB 420/HB 870 Could Transform Financial Assistance in Your Insurance
Tennessee’s legislation recently introduced a bill that could put a lot of money back into consumers’ pockets. SB 420/HB 870 proposes guidelines on member cost-sharing, as well as restrictions on insurers, pharmacy benefit managers (PBMs), and third-party administrators (TPAs). Anyone with an interest in what is going on in the insurance industry will want to […]
Self Funded Healthcare Trusts: Types, Benefits, and Implementation Guide
In today’s challenging economic landscape, employers face mounting pressure to provide competitive healthcare benefits while managing escalating costs. Traditional fully insured health plans continue to see premium increases that outpace inflation, creating significant financial strain for organizations of all sizes. According to a 2023 Kaiser Family Foundation survey, employer-sponsored health insurance premiums increased by 7% […]
Behind the Scenes at BIP Magazine: A Full Circle Moment for EthosBenefits
It’s not every day that you get to be featured on the cover of a magazine, especially one as prestigious as BIP Magazine, the official publication of NABIP. For Chelsea and Donovan Ryckis, this was a milestone in their journey…a moment that validated years of hard work, dedication, and, of course, their commitment to transforming […]
What Does It Mean to Be a Fiduciary of a Health Plan?
Being a fiduciary of a health plan is a significant responsibility that comes with legal and ethical obligations. Fiduciaries play a critical role in ensuring that employee health plans are managed in the best interests of plan participants and their beneficiaries. But what does that really mean? Let’s break it down. Defining a Fiduciary A […]
8 Ways AI is Impacting Employee Benefits, How AI is Transforming Employee Benefits
Artificial intelligence (AI) is revolutionizing industries, and employee benefits are no exception. By leveraging AI, organizations can create more personalized, efficient, and cost-effective benefits programs. Here’s a closer look at how AI is reshaping the employee benefits landscape and enhancing the experience for both employers and employees. 1. Personalized Benefits Recommendations AI has the ability […]
