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Employer-sponsored Savings and Spending Accounts and Other Benefits May Minimize "The Great Resignation”

Like everything else, employee benefits, especially healthcare benefits, have been affected by the pandemic. With the extreme focus on health in the public space, consumers and employees are more engaged with their benefits, especially healthcare benefits, than ever before.  While the historic labor shifts across the United States currently being dubbed “The Great Resignation” are driven by a diverse range of factors, according to a recent survey by Pew Research Center, roughly half of those surveyed cited benefits as either a “major” or “minor” reason why they quit a job during 2021.

Employers should consider this to be an opportunity to reevaluate the benefits they offer. Well-designed health benefits plans can aid businesses in meeting their objectives by improving a company’s bottom line, as well as attracting and retaining the best talent. In this unique environment, here is some valuable information to help you evaluate your benefits offerings.

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Dependent Care FSAs: How they can support your employees

Working parents have been challenged with safety and health concerns and balancing work and providing care for children whose schools or daycares were closed for extended periods.  

Now that most schools and daycares have resumed in-person education, it might be time to reevaluate benefit options to support employees with dependents. One solution is to offer employees the opportunity to opt into a dependent care flexible spending account, or DC-FSA.

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