Benefits Snapshot - 12/7

Written by Allison Loehman | December 7, 2017

benefitexpress in the News | Benefits for Millennials | Qualified Small Employer HRAs| Equifax Data Breach Update

Every day on our LinkedIn, Twitter, and Facebook pages, we share need-to-know industry information for benefits pros. If you haven't joined the experts who follow us, here are the top stories from around the web:

benefits-snapshot.png

benefitexpress in the News

At the end of the year, we take time to reflect on our successes over the last 12 months and set our goals for the future. Our Chief Product Officer, Scott Evans, shared his insights into the highs and lows of the broker industry in 2017 with BenefitsPRO magazine. 

As we look toward 2018, we see benefits technology continuing to shape the employee experience. The right tools during open enrollment can influence buying behavior to increase financial and overall wellness for an organization as a whole. Our CEO, Michael Sternklar, shared with Employee Benefit News what those right tools would look like. 

Benefits for Millennials

Employers and brokers alike are always attempting to understand the elusive millennial market's buying behaviors. Student loan repayment benefits are traditionally considered a favorite for millennial employees - but is this offering all hype? As it turns out, no. Many employees would forego more traditional benefits in exchange for student loan assistance (Gen X and Baby Boomers, too). 

One more surprising option growing in popularity among millennials is long-term care insurance. In fact, millennials have surpassed other generations in the workforce in adoption. Check out our Millennial Benefits Guide for more information on engaging your millennial employees.

Qualified Small Employer HRAs

At the end of October, the IRS issued IRS Notice 2017-67. The notice covered Qualified Small Employer Health Reimbursement Arrangements (QSEHRAs) and offered guidance on which employers qualified and how to administer these new plans. QSEHRAs offer employers who are too small to effectively offer group health insurance a means to still offer health benefits to employees. Our compliance expert shared an explanation of the IRS Notice and subsequent guidance.

Equifax Data Breach Update

Months after Equifax announced a massive data breach, over half of Americans surveyed still haven't checked whether they were among the affected - and that lack of data securityis a problem for employers. Data breaches can land employers in hot water, especially if they're due to an avoidable employee mistake. Check out our top tips to keep employee data secure, or review our data resources here. 

For more tips delivered straight to your inbox every week, be sure to subscribe.

Topics: For Employers