How to Re-Evaluate Your Benefits Elections When Welcoming a New Baby

If you’re preparing to add a new member to your family, congratulations! You’re in for years of laughter and love with your new son or daughter. You’re also in for some worry about his or her health and safety — and one of the best ways to alleviate those concerns is with smart employee benefits choices. Adding someone to your family is often seen as a “qualifying life event,” which is the term used to define events that may require changes to your health coverage and other benefits. Employees who have qualifying events are allowed to make changes to their coverage choices without having to wait for their employer’s open enrollment period. Making sure your child has health insurance and your family’s financial security is protected will take some of the worries away. So how can you do that? Re-examine your benefits now. Add Your New Son or Daughter to …

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Understanding Fringe Benefits

You know your salary off the top of your head, but do you know how much your benefits are worth? The U.S. Labor Department says benefits make up about a third of an employee’s total compensation package. And those benefits are something you can choose to expand: Supplemental or voluntary benefits are meant to fill gaps in the core coverage your employer provides, at some cost to you. Fringe benefits may or may not be negotiated and tend to include smaller benefits, such as use of a company car or membership discounts. But you have to understand them to use them and get the most out of them. “Don’t wait until your employer’s open enrollment period to inquire about benefits,” says Gene Lanzoni, assistant vice president of thought leadership at Guardian Life Insurance. Talk to your HR representative to find out what your options are, and work with a financial adviser to …

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How to Design a Leave Program That Works for Your Business

Time off from work makes it possible for your employees to relax and recharge, run important errands and spend time with their families. When it’s easy for them to leave work without hassle or confusion, they can come back to work refreshed and ready to tackle new challenges. A clear leave policy and a philosophy that reflects your company culture are key to ensuring people get the time off they need without holding the organization back. This checklist can help you identify your company’s philosophy toward time off and assemble a policy that works for everyone. Look to Your Values Some of the things your company stands for can serve as guideposts for your leave program. If your values include flexibility, work-life balance and terms such as “family friendly,” your employees will expect a generous and adaptable policy that makes it easy to request time off. A hard-charging culture that puts …

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