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Employers increasingly are turning to brokers for assistance in navigating complex regulatory and compliance issues.
"We've seen an increase in both state and federal reporting requirements, as well as regulations on the types of benefits which can be offered within a given state, which are driving a sharper focus on compliance," said Kim Buckey, vice president of client services for Optavise. "The myriad regulations that govern employee benefits can carry significant financial and even legal ramifications for employers, whether through fines, penalties and potential litigation costs. Many of these issues can have a direct impact on employee satisfaction and engagement, and employers are increasingly looking toward brokers for support."
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