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  • Governor Henry McMaster signed Bill S. 11 at the state house on August 25th. The bill allows employees in the state of South Carolina paid family leave for the birth of a child, adoption of a child, and fostering of a child. This follows McMaster’s call for a family leave bill in March 2020. 

    The paid family leave bill includes: 

    Birth of a child

    • Six weeks of paid leave for the employee who gives birth
    • Two weeks of paid leave for the employee who does not give birth but is a new parent

    Adoption of a child

    • Six weeks of paid leave for state employees who are the primary caregivers of the child
    • Two weeks of paid leave for the employee who is not primarily responsible for the care of the child

    Fostering a child

    • Two weeks of leave for employees who foster

    This bill will go into effect on October 1st, 2022. This bill helps families and helps the state retain its best employees with an additional benefit. 

    Benefits Administration Outsourcing With GMS

    As a business owner, it’s crucial to keep and attract quality employees so you can continue to grow your business. However, offering a quality benefits program is becoming increasingly expensive. Implementing benefits within your business can be a timely process. At GMS, our benefits outsourcing services allow your business to provide competitive, cost-effective benefits while you focus on growing your business. Learn how GMS can help you with added bills and ever-changing laws and regulations. Contact us today.

  • Many businesses have been forced to adapt to new working conditions due to the COVID-19 pandemic. As a result, many workers maintain a hybrid or remote work schedule. With the rise of remote employment, the focus has shifted to developing clear communication. This is vital to employers being able to communicate and meet the needs of their employees. Another major concern for employees stems from rising inflation and talk of an upcoming recession. This is the time when employees look to their employers for guidance. Let them know you care during the open-enrollment period by developing a plan that fits everyone’s needs.

    Communication Means Success

    As open enrollment is approaching, the need for effective and open communication is the biggest asset employers can implement. It’s imperative that employees have access to all information about each plan and can ask questions about it. Employees want to communicate with their employers. As the open enrollment period begins, they will be looking for guidance. Developing an open line of communication will create a happy, healthy, and productive workforce.

    Virtual communication is not likely to change anytime in the future. Even as businesses welcome their employees to return to in-person positions, virtual communication is here to stay. At the click of a button, employees can access their information when and where they need it. This will allow employees to understand their benefit plan offerings. When there is easier access to learning, employees will be more likely to take advantage of the offerings provided.

    GMS Steps In

    Many employers question which benefits their employees want to see during the open enrollment period. GMS can help you develop a plan that is right for your employees, along with creating a personalized experience working with a benefits account manager. Finding a plan that fits your business during open enrollment can be overwhelming. Let GMS simplify the process every step of the way, easing the line of communication with your employees. Contact us today to learn more.

  • California passed a program known as CalSaver in 2016, which stated that employers who don’t sponsor an employee-retirement plan must participate in a state-run retirement program. CalSavers is a retirement savings program for private sector workers whose employers do not offer a retirement plan. It gives employers an easy way to help their employees save for retirement without employer fees, no fiduciary liability, and minimal employer responsibilities.

    If you’re an employer who sponsors or participates in a retirement plan, including a 401(k) or pension plan, you are not required to participate in CalSavers. Eligible employers are defined as a “person or entity engaged in a business, industry, profession, trade, or another enterprise in the state, excluding specified federal, state, and local governmental entities, with five or more employees and that satisfies certain requirements to establish or participate in a payroll deposit retirement savings arrangement.”

    What The New Plan Means

    Governor Gavin Newsom recently signed Senate Bill (SB) 1126, expanding the definition of an eligible employee. Expanding eligibility will reduce complexity for employers and expand access to CalSavers to small businesses with one to four employees currently not covered. Ultimately, this bill will improve employee recruitment and retention across California. In addition, it’s estimated that SB 1126 will expand access to CalSavers to approximately three-quarters of a million California workers.

    A payroll deposit savings arrangement is required for employers with five or more employees that do not offer a retirement savings plan within 36 months of the board opening the program for enrollment. In addition, all eligible employers with one or more employees would need a payroll deposit savings arrangement by December 31st, 2025, if they don’t provide a retirement savings program.

    GMS Is Here To Help!

    Implementing a 401(k) retirement plan will help attract and retain great employees. It shows employees they are critical to your company’s success by rewarding them for their hard work. So, how does a PEO help you? PEOs such as GMS can leverage group buying power to reduce plan costs for small businesses and take on the fiduciary burden to ensure you remain compliant with your 401(k). GMS can help you set up fully customizable retirement savings plans that make your company more attractive to quality employees. Contact us today to learn more.

  • The Business Group on Health released its annual survey, which dictated that cancer is now the biggest driver of employer health costs. This annual survey examines large employers’ strategies around benefit design, cost management, and other healthcare strategies. This year, 13% of employers who partook in the survey said they had seen a significant increase in late-stage cancers among their employees. The survey was completed by 135 large employers covering more than 18 million lives within the U.S.

    The top three conditions that are fueling health care costs include:

    1. Cancer
    2. Musculoskeletal conditions 
    3. Cardiovascular disease

    Why Cancer Is Now The Top Driver 

    After analyzing the results from the survey, cancer is now the top driver of employer health care costs, most likely due to COVID-19 increasing delays in care and preventive services. Between 2019 and 2020, there was no increase in health care costs. As a result, there was an 8.2% spike in 2021.

    In 2022, employers expect to cover 82% of their workers’ health costs. This number has risen from 80% in the previous year. Employers are more reluctant to shift costs onto employees due to rising healthcare costs. Now, employers are considering alternative reforms, including advanced primary care and centers of excellence. A center of excellence is a program within a healthcare institution assembled to supply an exceptionally high concentration of expertise and related resources centered on a particular area of medicine, delivering associated care in a comprehensive, interdisciplinary fashion to afford the best patient outcomes possible.

    Additionally, employers are focusing more on policy efforts to lower healthcare and prescription drug costs. Prescription drugs accounted for 21% of employer health costs in 2021. More than half of that percentage was just for specialty medications. Employers are more concerned than ever about the increase in prescription drug costs.

    What Will You Do As A Business Owner? 

    While this new survey dictates that cancer is now the top driver in health care costs and prescription drugs are on the rise, as an employer, how will you protect your employees and your business? When you partner with GMS, you gain access to a GMS’ Rx specialist in addition to HR, benefits, payroll, and risk management expertise. Your Rx specialist will aid in searching for the most competitive prices on any prescription costs to save both you and your employees time and money. We offer flexibility, control of premiums, access to data and networks, and overall options that you can’t find elsewhere. Allow your employees to get the healthcare they need. Contact us today.

  • President Joe Biden announced a three-part plan to provide additional breathing room to America’s working families as they continue to recover from the effects of the COVID-19 pandemic. In his announcement, he shared that the federal government would cancel up to $20,000 of federal student loans for millions of individuals.

    More specifically, those earning less than $125,000 annually will receive $10,000 off their student loan debt. In addition, individuals who received Pell grants will have $20,000 in student debt removed. Federal Pell Grants are typically awarded only to undergraduate students with exceptional financial needs who have not earned a bachelor’s, graduate, or professional degree. However, not everyone with debt will qualify for student loan debt relief.

    What You Can Do As A Business Owner

    As an employer, your employees are your biggest asset. Without them, your business would not be able to grow. Alongside the most common employee benefits, including health insurance and retirement plans, providing student loan relief helps companies to attract and retain employees. A survey by the Employee Benefit Research Institute displayed that 17 percent of employers currently offer student loan debt assistance. In addition, 31 percent of employers plan to provide student load debt assistance in the future.

    However, many business owners are finding ways to lower costs, and cutting benefits has been one of them. There are additional steps you can take as an employer to provide your employees with student debt relief, including the following:

    • Offering student loan payment counseling
    • Third-party low-interest or interest-free educational loans
    • Debt consolidation 
    • Refinancing services
    • Tax-advantaged repayment support

    What Next?

    While President Biden’s student loan repayment announcement leaves you with questions and concerns as a business owner, GMS is here to put you at ease. If you’re a business owner considering offering your employees additional student loan relief, our benefits department has you covered. We work with you to provide your employees with the benefits they need. Don’t let the ever-changing rules and regulations keep you up at night. Contact us to learn more.

  • During the COVID-19 pandemic, many employers increased their mental health and well-being benefits. Heading into 2023, many employers are poised to continue offering these benefits. However, for many Americans, this can still be challenging to implement.

    Why Implement Coverage

    When healthcare plans offer a wide selection of in-network providers, mental health support becomes more accessible and affordable. Easy access to voluntary benefits lets your employees know they are supported. Survey results released in August by America’s Health Insurance Plans (AHIP), a health insurers’ trade association, shared:

    • All respondents provided some telehealth coverage for mental health services
    • The number of in-network behavioral health providers grew by 48% in three years
    • 89% of health plans are actively recruiting health care providers
    • The number of providers eligible to prescribe medication-assisted therapy (MAT) for substance disorders has grown 114 percent over three years

    “More than half of Americans, nearly 180 million, have employer-provided coverage for their health care needs – which offers an essential path to accessing much-needed mental health support,” stated AHIP.

    Access To Care

    Many therapists prefer to remain out of network, allowing them to receive direct payment from their patients. This limits those with lower incomes from receiving the care they need. Other therapists may only allow a certain number of clients that are unable to pay out of pocket. When it comes to improving access to care, one way to do it is through telehealth. Virtual appointments give patients more options while reducing the cost to practitioners.

    GMS’ Support

    There is a significant payoff when you alleviate the burdens of accessing mental health and wellness services. Employees feel a sense of validation through quality benefit offerings. You and your team can benefit from a streamlined approach when you partner with GMS. Telemedicine is just one way to enhance the employee experience by supporting their mental wellness goals. Learn how to get started today!

  • Employees’ needs have changed since the pandemic in 2020. Alongside the pandemic, there’s currently a tight labor market, hybrid work options are becoming increasingly popular, and benefits packages are being reviewed. Continue reading to learn what additional actions employers may take before open enrollment.

    Mental Health Benefits

    As an employer, it’s vital to understand that mental health support at work is no longer a perk; it’s a must-have resource for employees. A survey showed that 42% of employees with access to mental health benefits in the workplace say they’re more likely to stay at their job. In addition, 44% of employees who don’t have access to mental health benefits felt unsupported by their employers. Employers can enhance mental health benefits by expanding services offered through employee assistance programs and providing many other resources.

    Employee Financial Wellness

    Due to a tight labor market and fear of a recession, financial well-being programs have become increasingly popular. Researchers show that 69% of workers are stressed about their finances, with 72% of individuals worrying about their personal finances at work. Companies have begun launching financial wellness programs for their employees to support getting their finances back on track.

    In addition, financial stress results in a 34% increase in absenteeism and tardiness. Employees who worry about money miss almost twice as many days per year compared to colleagues who don’t have the financial stress. As an employer, if you can take away some of your employees’ financial worries out of the equation, you’re one step closer to a healthier and happier workforce.

    Medical Travel Benefits 

    When the Supreme Court announced its abortion decision, Dobbs vs. Jackson Women’s Health Organization, businesses started offering their employees travel benefits should an employee need an abortion. Another 16% of employers plan to provide abortion travel benefits in 2023, while 21% consider offering this benefit to employees. Learn more about what actions employers are taking to ensure their employees feel heard by clicking here.

    What Actions Will You Take? 

    As a business owner, it’s crucial to keep and attract quality employees to continue growing your business. Offering a quality benefits package is one of the best ways to retain and hire top talent. However, the only problem is that providing a quality benefits program often becomes increasingly more expensive and time-consuming. Be proactive and prepare yourself for open enrollment by partnering with GMS. Contact us today.

  • As an employer, type 2 diabetes impacts more than just employees who are either at risk or live with the chronic condition. According to the Society for Human Resource Management, type 2 diabetes costs U.S. employers more than $20 billion a year from unplanned time off from work alone. Add in the impact that additional claims have on group health insurance premiums and the effects of diabetes can ramp up your group health costs.

    Healthier employees make for a happier, more productive workforce, which is why more businesses are investing in diabetes management programs. Keep reading to learn how these programs work and why they can mutually benefit both employers and employees.

    What Is A Diabetes Management Program?

    A diabetes management program provides individuals with the information, skills, and resources they need to manage type 2 diabetes, prediabetes, or other related conditions. These programs are designed to assist those dealing with diabetes, blood pressure, and other health issues.

    Diabetes management programs can assist employees in a variety of ways. While some programs are tied to a certain period of time, others provide ongoing assistance to help individuals develop a healthier lifestyle and make meaningful changes in their lives. Each plan can differ, but a comprehensive diabetes management program can include the following elements.

    Health coaching

    Access to these types of programs means that employees have certified diabetes educators that they can turn to for help. Diabetes management coaches are clinically-trained health professionals who offer feedback and encouragement at every step. These coaches are regularly available through an online live chat, giving employees the help they need to prevent and manage their condition.

    Personalized diabetes management education

    In addition to professional assistance, programs also give employees the tools to learn more about diabetes care on their own time. People can go on their computer or a mobile app to access learning tools such as special articles, quizzes, and infographics. They can also use these online communities for healthy food recipes, special workouts, and other resources for ongoing diabetes care.

    Online tracking and monitoring tools

    Diabetes management programs make it easy for employees to set goals and track their own personalized health programs. Users can work with coaches to identify specific targets, whether they want to lose weight, lower blood pressure, or maintain certain blood sugar levels recommended for diabetes prevention. All this information is tracked online, meaning employees can follow their progress on their phones and set up reminders for their custom health care plan.

    Health forecasting and insights

    It’s not always easy to manage your diabetes, especially when navigating sudden dips in glucose levels and other challenges. Modern technology allows diabetes management programs to provide predictive insights for glucose and blood pressure. Employees with diabetes can simply use blood sugar readings to estimate future glucose levels and be proactive about their health.

    An employee pricking his finger to test his blood sugar during his diabetes management program.

    What Are The Benefits Of Offering A Diabetes Management Program?

    While employees can certainly feel the benefits of a diabetes management program, there are plenty of advantages for businesses as well.

    Healthier, more productive employees

    Simply put, healthier employees are more productive employees. According to the Centers for Disease Control, U.S. businesses lose a total of $26.9 billion each year just from reduced workplace productivity caused by diabetes. Taking measures to improve employees’ health can help employees feel better on the job, ultimately improving their focus and productivity.

    Reduced absenteeism

    Health issues can lead to a lot of lost work days. SHRM found that full-time employees with diabetes missed an extra 5.5 work days each year, while part-time workers missed 4.3 extra days on average. Utilizing a diabetes program can help address the health issues that lead to that additional absenteeism.

    Morale

    Offering employees a diabetes management program does more than just help them with their health. It also shows that employers care about their well-being. According to Zippia, 80% of employees say they enjoy their work when their employers take an active role in their wellness. In addition, 85% of those workers say they intend to stay at their jobs.

    Embrace Diabetic Management At Your Business

    Nearly 10% of Americans have type 2 diabetes, and more than a third are at high risk of developing this chronic condition. Odds are, your business is being impacted by the effects of diabetes, whether your employees know they have diabetes or not.

    That’s why GMS helps businesses address their employees’ health through quality benefits such as diabetes management programs. We’ve partnered with One Drop to give employers access to all the tools and professional support needed to help their workers live healthier lives. Contact GMS today to learn more about our diabetes management program and other benefits administration outsourcing services.

  • On August 8th, 2022, the Senate approved bill H.R. 5376, the Inflation Reduction Act of 2022. This bill will make a historic down payment on deficit reduction to fight inflation, invest in domestic energy production and manufacturing, and reduce carbon emissions by 40 percent by 2030. In addition, the bill will allow Medicare to negotiate prescription drug prices and extend the expanded Affordable Care Act Program (ACA) for three years.

    While Democrats and supporters of the legislation believe it would lower health care costs, prescription drugs, and energy costs, and make the U.S. tax code fairer, others disagree. Individuals argue that the new spending would further aggravate inflation and stifle growth. While the bill must still pass in the House of Representatives and be signed by President Joe Biden, it’s more than likely to become a law.

    What This Means For Small Business Owners

    To stay compliant, small business owners must keep up with changing laws and regulations. Following the passing of the Inflation Reduction Act, it’s important to understand the following provisions:

    • 15% minimum tax on corporations with over $1 billion in revenue 
    • 1% excise tax on corporate share buybacks
    • $80 billion more in IRS enforcement

    The following are health care provisions: 

    • Extend the ACA subsidies through 2025
    • Allow Medicare to negotiate drug prices, starting with 10 drugs in 2026
    • Cap Medicare recipients’ drug expenditures at $2,000 per year

    Uncertainties Relieved Through GMS 

    Despite the uncertainty surrounding the new Senate bill, GMS experts are ready to help your small business. We provide you with resources and guidance to get you through unprecedented times. Our benefits services allow your business to offer competitive, cost-effective benefits such as health insurance while you focus on what you do best. Get back to focusing on what’s important, your business. Contact us today.

  • If Congress allows the expansion of the health care subsidies included in the American Rescue Plan Act (ARPA) to expire, thousands of South Carolinians could see their 2023 premiums skyrocket. This is specifically related to individuals who get their health insurance through the Affordable Care Act’s (ACA) individual marketplace.

    There are currently about 365,000 individuals who have ACA plans. Amongst those individuals, 60,000 would lose health coverage and become uninsured if these subsidies don’t get extended. In addition, 225,000 South Carolinians would lose all or a portion of the financial assistance they currently receive.

    Benefits Of Temporary Subsidies 

    The ACA has provided subsidized health insurance on HealthCare.gov and state-run Marketplaces since 2014. There are approximately nine million individuals who purchase coverage with federal premium assistance. However, there are still millions who remain uninsured.

    The March 2021 COVID-19 relief legislation, also known as the ARPA, extends eligibility for ACA health insurance subsidies to individuals who buy their own health coverage on the Marketplace who have incomes over 400% of poverty. This law increases the amount of financial assistance for those on lower incomes who were already eligible under the ACA. It is shown that 21.8 million individuals are eligible for a subsidy to purchase Marketplace coverage with the passage of the ARPA. Also, 63% of uninsured individuals are now eligible for financial assistance through the Marketplaces, Medicaid, or basic health plans.

    Since the temporary subsidies in 2021, there has been an increase in financial assistance. In addition, these subsidies expanded aid to many middle-income individuals who had previously been ineligible for assistance.

    What This Means For Other States

    Outside of South Carolinians who are expected to see health premiums rise, the federal government has warned millions of individuals across the U.S. that they could lose health insurance. It is estimated that approximately three million individuals would lose health insurance should these subsidies stop. In addition, 10.4 million individuals with an ACA plan would pay a significantly higher dollar amount for coverage to stay insured.

    How GMS Comes Into Play

    Access to quality, affordable health care is essential for individuals to remain healthy. While questions are still looming, it’s concerning to individuals in South Carolina and across the U.S. who have been utilizing these subsidies. Let GMS take the stress off your shoulders. We now offer individuals voluntary benefits, providing you with access to health care, life insurance, pet insurance, and so much more. Contact us today.