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There’s a new federal broker compensation disclosure requirement that’s encouraging greater transparency in the benefits industry—and creating an extra step for brokers.  Effective December 27, 2021, insurance brokers and consultants are required to disclose their expected commissions related to all group health plans and individual health insurance policies. This applies to contracts executed on or… Continue reading Broker Compensation Disclosure Requirements: What You Need to Know

You’ve hired excellent employees. That’s the first step. The second step is keeping those excellent employees. Happy and engaged employees are more productive and more willing to stay at a company, and these numbers prove it: statistics show engaged employees reduce a company’s turnover rate by 25-59%. Those are some big numbers, right? The best… Continue reading Tips to Enhance the Employee Experience Beyond Health Benefits

Finding the hidden gem in a wide field of potential employees is a particular skill of HR professionals, but how do you unlock the potential hidden within each of your employees? When people are fulfilled and less worried about basic human needs, they can spread their wings and truly allow their talents to take flight.  … Continue reading The Value and Potential of Employee Benefits

On January 14, 2021, the U.S. Department of Labor (“DOL”) published its annual announcement of civil monetary penalties for various employee benefits-related violations under ERISA, as in effect for the calendar year 2021. To encourage compliance with the law, ERISA imposes various sanctions, including fines, which are subject to adjustment each year for inflation. Legislation enacted in… Continue reading 2021 DOL Penalties for ERISA Health and Welfare Compliance Violations