Employee Benefits Updates provided by Parker, Smith & Feek

HIPAA Breach Notifications: Group Health Plans

In 2024 alone, it’s estimated that over 2,200 cyberattacks occur each day worldwide. When a data breach involving protected health information (PHI) occurs related to an employer’s group health plan, strict HIPAA breach notification rules must be followed. Here are the key points to know:

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7 Key Employee Benefits Trends in 2024

With inflation and healthcare costs on the rise, employees are looking more than ever at the benefits companies offer. Knowing the top trends in benefits this year can help you attract top talent and stand out from the competition.

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Health Care Costs and Your Employee Health Plan

As healthcare costs continue to increase at exceptionally high rates year over year, it’s critical to understand the complexities of healthcare cost management and its implications for employee benefits. Learn more in our latest article.

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Understanding Benefits & Tax Implications for Company Owners

Extending benefits to company owners and directors? Important tax considerations apply. Learn more from our experts to ensure compliance.

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How Employers Can Help Employees Prepare for Retirement

Over half of employees say finances are the leading cause of stress in their lives. By offering personalized guidance and retirement resources, companies can empower their workforce and build a culture of financial well-being.

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Clear Message, Engaged Employees

Effective communication is critical for a positive and productive work environment, yet only 7% of U.S. workers feel they receive accurate, timely, and transparent information.

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Considerations for Evaluating a PBM

Pharmacy benefit managers (PBMs) negotiate bulk discounts with drug manufacturers and wholesalers, potentially reducing prescription drug spending for employers and keeping premiums lower for employees. Here’s what to consider when evaluating PBMs.

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What We’re Watching: AI for HR

Automating HR processes with AI provides a multitude of benefits for businesses of all sizes. Our latest article describes how AI can help HR teams to be more efficient and effective.

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The Value of Employer-Sponsored Fertility Coverage

Explore how offering fertility benefits can be a valuable investment for your business and employees. As 1 in 6 people worldwide grapple with infertility, delve into how this support can make a positive impact.

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ChatGPT’s Top 5 Trends Impacting Employee Benefits:
Mental Health (Part 4 of 5)

In the fourth part of our ChatGPT series, learn how stress-related illnesses can reduce productivity, lead to higher healthcare costs, and impact employees’ well-being.

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Parker, Smith & Feek is and independent, employee owned, full service insurance broker offering employee benefits, commercial and personal insurance, and surety solutions. Our Employee Benefits Department has been helping clients create and administer valuable benefits programs since 1975.

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