The U.S. Bureau of Labor Statistics (BLS) reported that the consumer price index (CPI) rose 2.6% year over year in October, up from 2.4% in September. Although the month’s reading followed six consecutive months of slowing rates, it met economists’ predictions. The inflation increase won’t likely disrupt the Federal Reserve (Fed) as expectations are for...
Millions of Americans have submitted ballots for the 2024 presidential election, and voting concludes on Tuesday, Nov. 5. With a new presidential administration set to take over the White House in January, health care-related topics are a high-priority issue for many voters. Election results hold the potential to bring significant changes to employee benefits and...
On Sept. 6, 2024, the IRS released Revenue Procedure 2024-35 to index the contribution percentage in 2025 for determining the affordability of an employer’s plan under the Affordable Care Act (ACA). For plan years beginning in 2025, employer-sponsored coverage will be considered affordable under the ACA’s “pay-or-play” rules if the employee’s required contribution for self-only...
The latest Salary Budget Planning Report released by Willis Towers Watson (WTW) shows that salary budget increases are expected to rise by 3.9% in 2025. The overall median pay raise for 2024 dropped to 4.1%, compared with 4.5% in 2023. Although these expected wage increases have diminished since 2023, this figure remains high compared to...
The U.S. Bureau of Labor Statistics reported that the consumer price index (CPI) rose 3% year over year in June, declining from 3.3% in May. This is the first time since May 2020 that the monthly rate has shown a decrease. The “core” CPI, which strips out the unpredictable food and energy components, increased 0.1%...
With today’s growing emphasis on corporate transparency and accountability, an organization’s directors and officers may face a range of liability exposures. For instance, stakeholders and third parties may hold a company’s board members responsible for damages resulting from their alleged mistakes or poor decisions, prompting legal action. Regardless of an organization’s size or mission, the...
The U.S. Bureau of Labor Statistics (BLS) reported that the consumer price index (CPI) rose 4% year over year in May, a significant decline from 4.9% in April. This is the lowest annual pace since 2021 and slightly below economists’ expectations of a 4.1% increase, according to Refinitiv, global provider of financial market data and...
Strategic planning and goal setting are incredibly important for businesses of all sizes, as well as for business owners themselves. This process should connect your goals with “why” that goal is important to the activities that people do within the company. A good business coach will guide you through the goal setting process, facilitate the...
While there are varying measurements of what qualifies as a recession, the consensus is that rising interest rates and high inflation will continue to put the financial squeeze on Americans in the new year. In these economic conditions, it’s likely insurance companies will see an uptick in claims related to inflation and the heightened cost...
Insurers faced some tough challenges in 2022, including a few that threatened their very existence. Astronomical jury verdicts, AI deep fakes, seemingly unending numbers of claims seeking compensation for coronavirus business shutdowns — more than a few industry lawyers spent sleepless nights beating back litigation that targeted the very core of the industry’s stability. Here’s...