As election day draws near, employers should be prepared to handle employee requests for time off from work to vote. Many states have voting leave laws that allow employees to take time off to vote in certain circumstances. This compliance overview chart outlines state voting leave laws.
On October 22, 2024, the Internal Revenue Service (IRS) announced the health flexible spending account (FSA) maximum for 2025 as part of Revenue Procedure 2024-40. The maximum employee contribution to health FSAs will be $3,300 for taxable years beginning in 2025, up $100 from 2024.
On September 23, 2024, the Departments of Labor, Health and Human Services, and the Treasury published a final rule under the Mental Health Parity and Addiction Equity Act. Significantly, the final rule adds protections against more restrictive nonquantitative treatment limitations.
Through Compliance Assistance Release No. 2024-01, the U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) is confirming that the cybersecurity guidance it issued in April 2021 generally applies to all employee benefit plans, including health and welfare plans.
Pharmacy benefit managers (PBMs) have come under scrutiny from business leaders and entrepreneurs like Mark Cuban, who have raised concerns about transparency. Cuban has been vocal about the alleged role traditional PBMs play in drug prices. While Cuban's efforts aim to disrupt the status quo, Hylant has proactively addressed these issues with an innovative PBM strategy that has been in place for several years.
This report highlights the key trends currently shaping employee benefits, including strategies to manage rising healthcare costs, the shift toward personalized benefits, the growing demand for mental health support, the importance of financial wellness and the evolution of leave policies. These insights will help you stay ahead in a competitive market and ensure your benefits strategy aligns with your business goals.
Hylant's HR Navigator offers an abundance of tools and resources that enable HR professionals to operate effectively and efficiently. One such resource: Federal Poster Advisor. Whether your company is small or large, the U.S. Department of Labor (DOL) requires you to display various posters in the workplace. Use the poster advisor to identify a list of the required posters and links to download printable posters.
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