SSG Insights | Week of February 17th, 2023
Reminder: Medicare Part D Disclosures Due by March 1, 2023 for Calendar Year Plans
This is an annual reminder for employers whose health plans include prescription drug coverage to disclose to the Centers for Medicare & Medicaid Services (CMS) whether that coverage is creditable. Employers must complete an online disclosure with CMS within 60 days after the beginning of the plan year, or March 1, 2023, for calendar year plans. This Compliance Advisor explains further.
Employers Will Likely Increase Wages to Stay Competitive in 2023
Today’s rising inflation rates and current labor shortages are forcing employers to respond to employee demands and driving up wages. Employee wages and salaries are expected to continue to grow through 2023. This article discusses how organizations are revising their 2023 budgets for employee compensation and benefits to keep up with the market and continue attracting and retaining employees.
Understanding the Importance of Disability Benefits
Over the last few years, employers have been expanding their voluntary benefits offerings as a way to address their employees’ needs and improve overall attraction and retention efforts. Understanding the various types of disability benefits and why employees value them can help employers decide whether to include them in their voluntary benefits offerings. This SSG Insight explains the importance of disability benefits and provides a general outline of the different types of such benefits.
Why Best Friends Have Benefits at Work
You likely remember your first work friend. They showed you the ropes and helped you navigate office politics. Today, research shows that work best friends are not just nice to have, but also play an essential role in employee engagement and retention.
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