Have you recently changed employers? Or are you considering making a change? Fortunately, when you participate in a health savings account (HSA) through your employer, your HSA stays with you. There are plenty of myths about HSAs, so let’s tackle what really happens to your HSA when you change employers. You Have Options HSA...
As we enter another season of open enrollment, one crucial topic is top of mind for many employees: HSA and FSA compliance. Health savings accounts (HSAs) and flexible spending accounts (FSAs) are often misunderstood, despite their significant financial advantages. It’s time to clarify the ins and outs of these tax-saving healthcare accounts and answer HSA...
When it comes to navigating the world of employee benefits, there’s a lot to take in, especially if you’re a first timer. Among the suite of benefits you’re likely to be offered, voluntary benefits are often misunderstood. In this blog we explore all the unknown voluntary benefits terms and bring clarity of information to first-time...
The IRS released 2025 contribution limits for medical flexible spending accounts (medical FSAs), commuter benefits and more as part of Revenue Procedure 2024-40. These limits undergo annual adjustments to account for inflation. 2025 Medical FSA Contribution Limits (including limited and combination FSAs) 2024: $3,200 per year 2025: $3,300 per year 2025 Medical FSA...
If you’re an employer, is your in-house benefits administration team struggling to juggle the multitude of complexities behind running a successful benefits administration program? Are you spending too much time and resources trying to keep up to date with compliance changes and providing the technology and services your employees need for a positive benefits experience?...
Whether you’re transitioning from your parents’ insurance, landed your first full-time job or are simply obtaining coverage for the first time, choosing health plans and employee benefits can be overwhelming. You’ll likely hear a lot of terms and acronyms that you’ve never heard before. For starters, let’s look at a few considerations when evaluating health...
According to the Bureau of Labor Statistics, employers typically pay around 80% of traditional employer-sponsored healthcare plans on behalf of employees. With rising healthcare costs, your business is most likely struggling to solve this key problem: how to maintain financial stability while providing robust benefits to your employees. But what solutions can actually provide benefits...
The concept of work-life balance has become more than just a buzzword; it’s a necessity for employee satisfaction and retention. According to WorkLife.news, employers are increasingly recognizing the importance of providing ample time off to their employees with more than 80% of U.S. employers planning to change their leave policies over the next two years....
Did you know employers can enhance their benefits offerings by incorporating voluntary benefits? What exactly are voluntary benefits and how can employers design an effective plan? We sat down with Hugh McDaniel, manager of channel partnerships at WEX, to get his insights on crafting voluntary benefits plans that meet the diverse needs of employees. ...
Quiet quitting is a term that has been gaining momentum, but what exactly is it? Quiet quitting is when an employee does the bare minimum or only the responsibilities within the description of their role and nothing else. Essentially, employees are performing their duties but not asking for additional responsibilities or going above and beyond what is expected of them. Those who choose to take on the “quiet quitting” mentality tend to be less invested in their role.
The Beginning of a Movement
The quiet quitting mentality comes from employees who are looking to reimagine what work could look like regarding work/life balance, job titles and career aspirations. More and more individuals are sharing their experiences and reasons for quiet quitting. Gallup reports that 18% of workers are actively disconnected from their work because they do not have most of their workplace needs met. These employees are often looking for roles elsewhere.
Affecting the Bottom Line
One might think that quiet quitting is not so bad, after all, employees are still accomplishing their tasks. The reality of quiet quitting, however, can cause extra work for everyone and cost an employer more money to hire and train new employees, as well as lose incoming revenue. When an individual decides to quiet quit, it is often because they are no longer engaged mentally and physically in their role. Doing so can cause additional strain on team members because they must ensure all projects are still being completed. This is a repeating cycle that employers must address.
Breaking the Cycle
Showing employees how your employees can add value to the company and offering praise will help reengage employees. Understanding the importance of one’s role will help picture how one fits into the company overall. Managers need to take an active role when it comes to employee morale and performance. Taking time to meet one on one with employees will help establish relationships and better understand what is going on within a team. Open communication is essential. Managers also need to realize that their performance affects their team. They must be open to feedback and be willing to adapt. Employers can inspire loyalty by offering competitive wages and benefits packages. When an employee is happy and feels like their needs are being met, they will have little reason to look elsewhere.
The information in this blog post is for educational purposes only. It is not investment, legal or tax advice. For legal or tax advice, you should consult your own counsel. To stay up to date on benefits trends and insights, subscribe to our blog.
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