Beginning January 1, 2025, Connecticut’s paid sick leave law—which currently covers employers with 50 or more employees in the state and only applies to service workers—will be significantly expanded to cover almost all employees and employers. Below are some [...]
Are rising health insurance costs eating into your small business's budget? Are your employees struggling to afford quality healthcare? Individual Coverage Health Reimbursement Arrangements (ICHRAs) might be the solution you've been searching for. What are ICHRAs? ICHRAs (pronounced [...]
In today's complex regulatory environment, businesses in the automotive, roads, fuel, and related industries face unprecedented challenges in managing employee benefits. Recent studies show that compliance issues are a growing concern for companies of all sizes. According to a [...]
If your business offers health insurance benefits to employees, you've likely heard of alternative funding models like self-funding or level-funding. But what exactly do these alternative approaches entail, and why are more employers considering them instead of traditional fully-insured [...]
The U.S. Department of Labor (DOL) recently announced the finalization of its overtime rule, significantly impacting how employers classify employees as exempt from overtime pay requirements under the Fair Labor Standards Act (FLSA). This new rule takes effect in [...]
The annual open enrollment scramble is a familiar scene for many HR professionals. But what if there was a better way? Recent trends point toward a shift in employee benefits communication, moving away from a one-size-fits-all approach and [...]
The year 2024 has just begun, but things continue to rapidly change in the employee benefits landscape. Rising healthcare costs, shifting workforce priorities, and a complex regulatory environment – it's enough to make any business owner's head spin. How [...]
The IRS has released its annual guidance on inflation adjustments for retirement provisions in 2024. The key updates include: For 401(k) and similar defined contribution plans, the contribution limit for participating employees will rise to $23,000 from $22,500. The [...]
On August 30, the White House proposed a rule through the Department of Labor to extend overtime pay eligibility to an additional 3 million workers. This move echoes an attempt by the Obama administration eight years prior to modify [...]
The automotive industry encompasses a diverse workforce that requires a specialized approach to employee benefits. NARFA, with its longstanding history and expertise, stands as an invaluable ally for businesses navigating the complexities of employee benefits. The Challenge of Diverse [...]
