It's the perfect time for employers to encourage workers who aren’t participating in the 401(k) to consider easy, actionable financial New Year’s resolutions that can help them reach their retirement goals and avoid regrets, according to Nationwide.
Complex formulary structures, high initial pricing, entrenched market advantages favoring established brands, and hesitancy among prescribers and patients have slowed adoption, leaving billions in savings untapped.
CVS has been hit with at least three federal class actions, including two antitrust cases accusing CVS Caremark Corp. and other pharmacy benefit managers, the intermediaries between insurance companies and pharmacies, of price-fixing prescription drug reimbursement rates.
The Council issued recommendations to the DOL to create a “tips document” to help fiduciaries in choosing QDIAs with lifetime income options, improve QDIA guidance, and provide for QDIAs in IRAs.
Earlier versions of the bill included provisions that would have limited an employer to including only $10,200 in spending on employee-only coverage and $27,500 in spending for family coverage coverage from taxable income.
Benefits advisors can help employers both manage those costs and enable better employee health outcomes by educating them on the ways GI-first benefits can impact all other aspects of employee wellness.