Attracting and retaining top talent remains a critical challenge for companies navigating an ever-evolving labor market landscape. In 2024, the need for agility and strategic foresight will only intensify. Balancing rising healthcare costs and inflation with employee needs and value expectations demands innovative solutions.
The Internal Revenue Service has established increased limits in 2024 for health savings accounts and employee benefits plans, and for benefits professionals, it’s important to prepare for these changes as we enter a new year. These increased limits present more opportunities for employees to maximize their healthcare savings in 2024.
Earlier this year, the IRS announced 2024 employer mandate penalties that apply to all employers with 50 or more employees — otherwise known as applicable large employers (ALE). If you’re a human resources professional at an ALE, it is essential for you to understand these penalties and how they could impact your workplace.