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Boost Retention with Better Benefits, Culture & Safety

… January 2022 alone.1 This level of turnover is costly to your company both in time and money. It’s time-consuming to recruit and train new employees – not to mention the loss of institutional knowledge and reduction in productivity while positions remain vacant. It is estimated that losing an employee can cost your company six to nine months of that employee’s salary,2 making current employee retention a concern for all industries. To win this battle, you must proactively combat the top factors that cause employees to take other jobs including competitive compensation, better benefits, work/life balance …

https://www.epicbrokers.com/insights/boost-retention-benefits-culture-safety/

Leverage Forward-Thinking Insurance Solutions to Boost Your Recruiting Efforts

… their families coverage for their physical health, but they also desire a package that will cover their emotional, financial, and even digital health. EPIC will develop a customized strategy that meets the needs of your employee demographics while managing medical cost inflation and relieving your HR team to focus on employee recruiting and engagement. Our experienced Employee Benefits team can assist with: Managing escalating pharmacy costs to offer candidates more coverage options Identifying solutions that meet your candidates where they are (remote or hybrid working arrangements, new to the workforce, aging parents, or nearing retirement) Developing professional benefits communications to …

https://www.epicbrokers.com/insights/boost-your-recruiting-efforts/

EPIC Adds to Life and Executive Benefits Platform with the Acquisition of Dixon Wells, Inc.

Expanding National Footprint Across its RIA, Family Office, High Net Worth and Corporate Client Markets EPIC has acquired Dixon Wells, Inc. (“Dixon Wells”) in a strategic move to expand EPIC’s geographic footprint in the life insurance, executive benefits, and financial advisory distribution businesses under the Vanbridge Life and Executive Benefits umbrella. The transaction will broaden the reach of EPIC’s current practice and provide Dixon Wells with an expanded suite of offerings and resources to accelerate growth and improve client service in an ever-changing complex environment. Dixon Wells partners with financial advisors on a national scale to help …

https://www.epicbrokers.com/insights/epic-acquires-dixon-wells/

Compliance Alert: Machine-Readable TiC File Requirement Is Looming

Quick Facts Group health plans and issuers are now required to make publicly available a machine-readable file (MRF) disclosing information about costs, covered items and services starting on July 1, 2022. Additional requirements for prescription drug data and cost transparency tools are coming in the future. MRFs must contain specific information, follow a specific format and be posted on a publicly accessible website. Both fully insured and self-funded plan sponsors must comply with the requirements and will need to lean heavily on their carriers and third-party administrators (TPAs) for compliance assistance. Background In recent years, multiple new …

https://www.epicbrokers.com/insights/compliance-alert-tic-file-requirement/

Compliance Alert: Form 5500 Frequently Asked Questions

… is required for each employee welfare benefit plan sponsored by an employer that is subject to the Employee Retirement Income Security Act (ERISA). Each separate ERISA plan with 100 or more participants enrolled at the beginning of the plan year is required to file a Form 5500. Examples of common employee welfare benefit plans subject to ERISA include: Medical, surgical, or hospital care or benefits; Benefits in the event of sickness, accident, disability, or death. Some benefits, such as formal scholarship plans or severance plans, may also be ERISA plans and thus subject to filing. Such plans will require a …

https://www.epicbrokers.com/insights/compliance-alert-form-5500-faqs/

How to Become a Talent Magnet in Today’s Market

… decades. Dr. Hennessey was honored to serve as the medical cost transparency CEO at the White House for the signing of President Trump’s executive order on medical cost and quality transparency on June 24, 2019. Vance Davidson Principal, EPIC Insurance Brokers & Consultants Vance has 16 years of human resources and benefits-related experience. He believes quality, affordable health care is within reach for millions of working people, and employers hold the key. An accredited Health Rosetta Benefits Advisor, Vance is committed to helping them take measured steps proven to improve benefits and lower costs. DOWNLOADABLE RESOURCES THE WEBINAR PRESENTATION

https://www.epicbrokers.com/insights/become-talent-magnet/

So, What’s the True Value of Wellness Programs?

… a variety of chronic diseases, disorders and premature deaths, which now contribute to an assessed 90% of today’s $3.8 trillion in annual healthcare costs. Viewpoints from Erin Milliken But let’s take a step back from the financial lens and dig deeper into the meat of those intangible benefits. Wellness programming, including preventive care, addresses the physical, mental and emotional health related to employee productivity, workplace loyalty and morale. In the era of the Great Resignation, every employer can use a leg up in recruiting top talent, retaining employees, drumming up greater workplace engagement and enhancing productivity. Some …

https://www.epicbrokers.com/insights/wellness-programs-true-value/

HHS Notice of Benefit & Payment Parameters for 2023 Proposed Rule Addresses Non-Discrimination

On January 5, 2022, the Department of Health and Human Services (HHS) published the Notice of Benefit and Payment Parameters for 2023 Proposed Rule (NBPP). The Centers for Medicare & Medicaid Services (CMS) proposed standards for issuers and Marketplaces, as well as requirements for agents and brokers. The proposed rules are intended to provide a more stable and predictable regulatory framework and facilitate a more efficient and competitive market. The rules build on the Affordable Care Act (ACA) to expand access to quality, affordable health coverage and care by lowering premiums, strengthening markets, and enhancing the consumer experience. There are two …

https://www.epicbrokers.com/insights/hhs-benefit-payment-parameters/