Wednesday, December 18th, 2024 A topical newsletter from PLANSPONSOR Health Care and Benefits A collection of articles focusing on how plan sponsors are providing health care and other benefits for their employees SPONSORED AD Data and Research Low Financial Literacy Rates Among Young People Indicate Retirement Savings Delays On average, respondents to a survey by the SPARK Institute said they believe 30 is the proper age to begin saving for retirement. Administration Employers Must Attest to Removal of Gag Clauses by End of Year Under the Consolidated Appropriations Act of 2021, employers must attest that their contracts with service providers do not contain gag clauses or restricted access to health plan claim data. Administration Trump’s ‘Unusual’ Pick for Secretary of Labor Has More Health Than Retirement Track Record Representative Lori Chavez-DeRemer of Oregon also comes with pro-labor positioning that may give pause to Republican Senators considering her nomination. Compliance Owens & Minor Sues Anthem Over Mismanaging Health Plan, Lack of Transparency The health care and logistics supply chain company alleges that Anthem Blue Cross and Blue Shield refused to provide important health claims data, as well as overpaying certain claims. Benefits IRS Flexible Spending Information Available for Plan Sponsors to Alert Participants The IRS is encouraging taxpayers to take advantage of flexible spending arrangements in 2025, with contribution limits set at $3,300.  Benefits How Offering Personalized Benefits Helps Retention, Company Culture When evaluating the array of benefits in the marketplace, plan sponsors must balance cost with the need to attract and retain talent.   Did someone forward you this newsletter? Sign up here to get PLANSPONSOR Spotlight directly in your mailbox!

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