There's an urgent need to educate nonprofit employers about alternative benefit solutions to group health insurance, like qualified small employer health reimbursement arrangements (QSEHRAs) that may be a much better fit, according to a new report.
Boosting employee morale and productivity are excellent reasons to introduce EWA in a comprehensive financial wellness package that should also include financial literacy, credit resources, and budgeting tools.
Only 41% of small business owners (and 69% of mid-size owners) are aware of emergency savings opportunities for employees provided by SECURE 2.0, while even fewer know about student loan matching options.
An increasing number of businesses will be starting retirement plans in the wake of the SECURE 2.0 - and tax credits will help small business employers offer them, according to new research.
The Custom Health Option and Individual Care Expenses (CHOICE) Arrangement Act would allow business owners to reimburse employees for individual health insurance plans - and would make that coverage portable.
The new legislation will remove barriers for many small businesses, however, some are reporting they don't have the bandwidth or resources to deal with these benefit issues, according to a Fidelity report.