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Financially Sound Ways to Give to Minors

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money in handThere are many options for helping a child secure his or her financial future.

One of the best presents you can give a grandchild is the gift of a secure future. Money you give them when they are young will grow, increase in value and be used for a variety of purposes. Going to college, buying a car or home, taking a trip around the world or starting a business are just a few. Remember, once you give a monetary gift, the money is the recipient’s to spend as they choose — although you can delay granting access until they’re an adult.

If you want to help your grandchildren financially, here are some options: Continue reading Financially Sound Ways to Give to Minors

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Strategies for Making Your Wellness Program Pay Off

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notebook and deskWellness programs are promoted as win-win. Employers save money on health care benefit costs. Employees improve their health.

But there has been controversy in recent years over just how much return on investment (ROI) there is for promoting wellness. According to a 2010 study by a Harvard economist, a wellness program returns $3 in health care savings and $3 in reduced absenteeism for every dollar invested. Continue reading Strategies for Making Your Wellness Program Pay Off

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New Ways to Keep Health Care Benefit Costs Down

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money in pillAfter salaries, Health care benefits are an employer’s largest employee-related expense, according to the Bureau of Labor Statistics. A 2016 survey by the Society for Human Resource Management (SHRM) pegged the annual cost in 2016 at $8,669 for each employee.

At the same time, employers are seeing medical benefit costs continue to climb at an alarming rate. The Office of the Actuary at the Centers for Medicare and Medicaid Services estimates that total health care spending in the United States will grow at an average rate of 5.8 percent through 2025. That is 1.3 percent higher than the expected annual increase in the U.S. gross domestic product. Recent studies suggest the increase could be five percent or more for group insurance next year. Continue reading New Ways to Keep Health Care Benefit Costs Down

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The What, Who and How Much of Offering Life Insurance

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umbrella and familyAs an employer you are in a unique position to offer your employees an easy way to purchase a valuable benefit, costing them less than if they purchased it on their own.

We’re referring to employer-sponsored life insurance. Your employees get the peace of mind that their loved ones will be protected from financial ruin if they die. But unlike an individual policy, a group life insurance plan doesn’t require a physical exam, which could be difficult for some individuals to pass. Employers often cover all of the cost of the premiums, making it a “free” benefit for employees. Plus, employees can convert a group life insurance plan to an individual policy if they leave the company. Continue reading The What, Who and How Much of Offering Life Insurance

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Switching to a High-Deductible Health Plan? Here’s How to Explain the Change

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Intensive care monitorHigh-deductible health plans (HDHPs) are gaining in popularity as a way for employers to save money and to give employees more say on how their health care dollars are spent.

Many employees, though, are apprehensive about switching from a traditional insurance plan to an HDHP because it’s going to cost them more in out-of-pocket expenses. If you decide to go this route, here are a few points you can share with your employees to alleviate their concerns. Continue reading Switching to a High-Deductible Health Plan? Here’s How to Explain the Change

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Opioid Addiction in the Workplace: How to Help Employees

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bottle with pills next to itOpioid addiction is on the rise and is affecting the workplace. The National Safety Council reported that nearly 70 percent of the employers they surveyed said prescription drug abuse has negatively impacted their companies. Continue reading Opioid Addiction in the Workplace: How to Help Employees

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Could Direct Primary Care Control Your Health Care Benefit Costs?

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money and pillsAffordable Care Act marketplaces are closing at an alarming rate. Health care benefit costs are soaring. Some Republicans are trying to repeal and replace the current Affordable Care Act and others in Congress just want to make changes before it implodes. Meanwhile, coverage isn’t getting any cheaper, and many Americans are left wondering what options they have for affordable health care coverage. Continue reading Could Direct Primary Care Control Your Health Care Benefit Costs?

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Critical Questions to Consider When Designating a Life Insurance Beneficiary

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Life insurance is a wonderful gift to leave your beneficiaries. They can use the proceeds to meet their financial needs, such as paying for housing, or helping them to reach their goals, like going to college. Continue reading Critical Questions to Consider When Designating a Life Insurance Beneficiary

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Smart Ways to Plan for Retirement Savings

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If you have already started saving for your retirement, congratulations! You’re on the right path. However, just saving money will not be enough to ensure a comfortable retirement if you don’t make the right decisions concerning your plan.

The following tips will help you get the most out of your retirement savings: Continue reading Smart Ways to Plan for Retirement Savings

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Individual Health Care Marketplace Faces Serious Hurdles

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There is good news and bad news on the individual health care front. First the bad news.

Bad News

Today it’s much more difficult for individuals in certain parts of the country to purchase federally subsidized health care coverage on the Affordable Care Act (ACA) marketplaces. Many major insurance companies, such as UnitedHealth Group, Humana and Aetna — tired of operating at a loss — have announced their intention to pull out of the marketplaces. Another provider, Anthem, plans to leave the Ohio marketplace in 2018. Continue reading Individual Health Care Marketplace Faces Serious Hurdles

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