HR Question of the Month
By: Mineral
Q: A remote employee told us they were injured at home during their workday. What are our responsibilities?
A: When an employee informs you that they were injured while working from home, take the claim seriously and follow your usual procedure for a workplace injury. Here are the steps we recommend:
- Thank them for letting you know about the injury and ask if they need medical attention. If necessary, help them get it. Their health and safety should be your first priority.
- Have the employee complete a workers’ compensation claim form, which can be obtained from your carrier. The carrier should be notified as soon as possible.
This Q&A does not constitute legal advice and does not address state or local law.
Benefits Buzz
By: Plansponsor.com
Study Shows Gen Z Employees Not Taking Advantage of Health Savings Accounts.
Employees younger than 30 were the most likely to contribute $0 to their HSAs, according to a new Inspira study.
Many Generation Z employees with access to a health savings account are not using them to their full potential or are not contributing to them at all, according to new data from Inspira Financial.
While young professionals tend to champion mental health and investing in their physical and emotional well-being, Inspira found that nearly one-third of employees younger than 30 contribute nothing to their HSA annually (a higher figure than any other generation), and only 14% contribute more than $3,000 per year (a lower percentage than any other generation).
For more information click here.
Compliance Corner
By: Benefit Comply
Reimbursement of Nutrition, Wellness and General Health Expenses.
While reimbursement of new weight-loss drugs available solely by prescription are reimbursable on a tax-favored basis under an FSA, HRA, or HSA, an IRS alert reminds people that nutritional counseling, fitness memberships, and food are generally NOT reimbursable on a tax-favored basis. There are some limited exceptions when such things are recommended by a physician to treat a specific medical condition. For more information click here.
Empower Your People
By: VAST University
With 240 million of us using over-the-counter (OTC) drugs every year at a cost on average of $442 per year, I’d like to share how a little shopping and knowledge about generic drugs can save you money.
A bottle of Claritin (active ingredient is Loratadine – 10mg) costs $27.49 at CVS/Target for 30 pills. However, you can get 115 pills at Costco for only $44.99. But, that’s NOT the end of this story.
A bottle of AllerClear, the generic for Claritin, with the same active ingredient (Loratadine – 10mg) costs $11.69 for 365 pills. That is a savings of over $334 in one bottle of pills!
Helping your people know the difference can not only save them money, but it may also help save the health plan money. Depending on how your plan is financed, reducing the cost of care = lower premiums.
Upcoming Webinars
Summer Reporting Deadlines
Presenters: Bob Radecki, Principal, Benefit Comply LLC & Regan Debban, J.D. MBA, Principal, Benefit Comply LLC
As we look forward to summer plans, employers must continue to stay on top of benefit compliance requirements. This webinar will provide an overview of some of the important upcoming reporting requirements, including Form 5500s, PCORI fees, and Rx Reporting.
April 25, 2024 @ 2pm
Registration link: https://assurexglobal.zoom.us/webinar/register/WN_4szvSMciT4efSfHAsEtUWw#/registration