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To avoid overtaxing plan administration and automation support, limit the number of incentive components per job to three or less.

Domaszewicz also shared several ways total rewards professionals can get creative to encourage better HSA utilization by employees: ;Consider larger contributions to HSAs for employees below a certain income threshold; or, have the same max contribution per employee but offer a 2:1 match for employees below a certain income threshold.; ;Take cues from 401(k) policies , such as default contributions that automatically increase with salary bumps.; ;Offer well-being incentives via deposits in HSA accounts.; ;Provide plan comparison tools , digital resource repositories, etc.; ;Launch an HR-monitored Slack channel for employees to share their own HSA experiences, tips and tricks.; More than anything else, don’t assume employees understand HSAs because you conducted training when you first offered them.

According to a Voya Financial report , the cost of caregiving to businesses — including higher health benefits costs, lost productivity and legal liabilities — exceeds $50 billion annually, or an estimated $3,200 per employee.

The Potential Value of Longitudinal Measurement The U.S. cost of labor has risen, on average, 1 percentage point per year more than the cost of living over the past 50 years ( WorldatWork 2024; U.S.

Building a workforce with market-leading revenue per employee requires deliberate, wise investments.

MTurk worker responses are both anonymous and voluntary, as per the human subject guidelines established by Loyola University Chicago.

Under the proposed legislation, businesses in the state would receive tax credits for participating in the “Massachusetts Smart Work Week Pilot” and encouraging employees to work 32 hours per week without a loss in pay or benefits.

;Reduce the “pack-years” for those who should be screened from 30 to 20 (calculated by multiplying the number of packs smoked per day by the number of years an individual has smoked).

This might include the cost of certifications or subscription services used for online learning, seminar attendance fees, or the average investment per employee of internal training programs they attended.; Editor’s Note: Additional Content For more information and resources related to this article, see the pages below, which offer quick access to all WorldatWork content on these topics: ;Employee Compensation; ;Employee Recognition; ;Total Rewards; ;Workforce Engagement; #1 Total Rewards & Comp Newsletter Subscribe to Workspan Weekly and always get the latest news on compensation and Total Rewards delivered directly to you.

Qualifying life status changes, such as marriage or birth, that occur after open enrollment or during the plan year must be allowed under either special enrollment rights or per the plan design, depending on the event.