Nov 10, 2022Are You Ready for ACA Informational Reporting?
2022 ACA Informational Reporting for applicable Large Employers (ALE) and small employers with self-insured plans will be due in March 2023
Celebrated each April, recognizing employee benefits now seems to hit a bit differently than it did just a few years ago. The altered landscape of the workplace has been exhaustively discussed as many of our industries felt the strain of a quick, forced adaptation. The concept of “just another day at the office” was dramatically disrupted, for better or for worse, putting our organizations to the test.
With the foundation of many roles across many industries shifting, companies felt their benefits plan put under the spotlight (and microscope) like never before.
Discussing the importance of employee benefits is at the forefront of the conversation now, especially concerning recruiting and retaining. It’s a candidate’s market out there and employees are re-evaluating what they expect out of their compensation. New attention is being paid to the direct needs and priorities of one’s family, mental and physical health, and responsibilities outside of the office.
And companies are responding.
“The way we support employees has changed,” says Dan Troy, Principal and Sr. Benefits Advisor, at Morris & Garritano. “The importance of benefits is increasing, and the long-term impacts are worth the investment.”
We’ve discussed the importance of this at great lengths at Morris & Garritano in recent months with several articles on offering a robust compensation package, types of benefits available and how to communicate them, as well as how to cultivate a family-friendly workplace.
Your benefits package has always been important but the weight of what your employees are offered and how they are able to access it carries a heavier weight today. In this recognition and prioritization of employee well-being, companies can expect greater retention and productivity from their workforce.
In a time where benefits matter so much, we want to take the opportunity to give a shoutout to those within our own agency who ensure the provision of such benefits to both our clients and their employees as well as our very own employees at M&G! We’re incredibly proud of our EB team and know our clients are in the best hands, being offered service that goes above and beyond. “It’s not just about doing the job,” explains Celia Silacci, Employee Benefits Service Manager. “It’s about understanding the needs of our people and meeting them.”
Our team believes in the impacts a great benefits package can have on both the individual and the company as a whole. We’ve said before that investing in the wellness of our people pours back out into our company and outwardly to our clients.
“Being strong internally allows us to be strong externally, and that same care provided for our people inside is then extended to our clients outside,” Angela Toomey, M&G’s Human Resources Director encourages.
Your employees are the backbone of your company and having a strong team yields a strong organization. So today we recognize the support and investment it takes to care for your team and honor those within our ranks who ensure the best is being made available!
If you have questions about your employee benefits package, reach out to your advisor at Morris & Garritano or get in touch with us online.