Tip of the Month
Are Your Clients Making Data-Driven Benefits Decisions?
Benefits data can—and should—play a crucial role in understanding how employees engage with their benefits beyond annual enrollment. However, with a plethora of data available—ranging from enrollment and utilization to feedback surveys—your clients may struggle to consolidate this information and determine which insights to prioritize. Where should your clients begin?
Consider the following:
Employee benefits feedback surveys
Enrollment data Engagement with non-electable benefits
Utilization of supplemental benefits
Platform login and engagement data
Call and email volume, along with associated themes
Learn more about how Businessolver can help your clients make better data-driven benefits decisions below.
Channel Partner Connect
It’s a Wrap: November Think & Clink Insights
Did you attend our Think & Clink in November? During the event, we explored key strategies for preparing clients for a successful 2025, focusing on AI advancements and utilizing Businessolver's dynamic Benefits Insights Dashboard. Some highlights included the transformative power of AI to future-proof benefits strategies, unveiling cutting-edge features in the Benefits Insights Dashboard for data-driven decision-making, and emphasizing the importance of engaging communication tools to boost employee involvement. Watch the full recording below to gain insights from our session.
Webinar Recap: Enhancing Client Compliance Strategy
During our recent compliance webinar, experts from ComplianceDashboard, Seyfarth Shaw, and Businessolver discussed the industry's pressing compliance challenges today, such as cybersecurity and Mental Health Parity. With the dual pressures of an election year and a volatile hurricane season, developing clear, scalable policies is crucial. If you missed our live webinar or want a refresher, watch the recording below and check out the key highlights on our blog.
Watch on demand
Regulatory Roundup: Compliance Updates You Should Know
IRS Updated FSA Benefits Enrollment Requirements
Staying informed about the latest IRS release, IR-2024-287, is important for understanding Flexible Spending Accounts (FSAs) and aiding clients with their benefits and enrollment requirements. The 2025 plan year sets the FSA contribution limit at $3,300. Read the IRS release to help your clients navigate these updates.
Read the IRS release.
Help Your Clients Avoid Fees & Penalties: Q1 Seasonal Reporting Requirement
It’s crucial for you to keep your clients informed about upcoming compliance requirements to help them avoid fees, penalties, and additional risk. Remind your clients that the following requirements need to be completed by Q1 2025
Gag Clause Attestations: Have your clients submitted their annual submissions? Read the submission instructions to ensure your clients have submitted their Gag Clause Attestations by December 31, 2024.
The Mental Health Parity and Addiction Equity Act (MHPAEA) Non-Quantitative Treatment Limitations (NQTL): This guidance will impact 2025 and 2026 plan requirements. Review the final rule to ensure your clients are compliant.
Non-Discrimination Testing: If any clients have not completed their dependent Care FSA testing, ensure any outstanding 2024 action items are completed by the end of the year.
Reproductive healthcare/attestation processes: Review the new regulations released earlier this year to confirm that your clients’ health plans meet the new HIPPA requirements relating to reproductive care.
ACA 1095-C reporting: As annual enrollment winds down, read the instructions for 1095-C reporting to ensure your clients’ data is completed and ready for production and reporting.
New and Noteworthy: Your Monthly Industry Update
IRS Loosens Rules on Health Plan Coverage for Preventative Care
The IRS has broadened the preventive care benefits for high-deductible health plans (HDHPs), allowing coverage without deductibles. This update includes items like condoms and extra breast cancer screenings that can now be tax-deductible and reimbursed through health accounts. Let your clients know about this update as it could assist in helping them to boost enrollment for HDHPs and promote more proactive health management.
Employers and Benefits Brokers Unite to Defend Group Heath Tax Inclusion
The Partnership for Employer-Sponsored Coverage (P4ESC), led by Neil Trautwein, opposes capping the federal income tax exclusion for employer-sponsored health benefits, arguing it would unfairly tax workers and disproportionately affect various regions. Read more about why maintaining this exclusion helps keep employee benefits affordable and attractive for your clients.
Most American Workers Satisfied with Employer-Provided Health Coverage
A recent survey revealed that 75% of American workers are satisfied with their employer-provided health insurance, citing comprehensive coverage, affordability, and provider choice as key factors. Offering desirable health benefits can enhance employee satisfaction and retention, ultimately strengthening workforce stability and effectiveness for clients.
Stay Informed: Businessolver Updates Curated for You
Evaluating Enrollment: Is Your Client Strategy Ahead of the Curve?
The results of our annual enrollment strategies survey indicate that HR professionals are committed to enhancing employee engagement with benefits to maximize their investment and achieve tangible results. Explore our insights from HR leaders across various industries to discover how you can tailor your approach and deliver greater value for your clients in the upcoming year.
Discover a Simplified Approach to Help Your Clients Stay Compliant: Join Our Demo
Feeling overwhelmed by constantly changing compliance regulations? Ensuring client compliance is no easy task, but there's good news—a simpler solution exists. With Businessolver’s acquisition of the ComplianceDashboard, partners can easily track compliance progress, manage tasks, and collaborate—all in one place. Sign up for a live demo of the ComplianceDashboard to see how easy managing compliance can be.
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