Understanding and managing the high cost of prescription drugs presents challenges across the U.S. healthcare system. For years, a particularly complex set of pricing variables has frustrated employers sponsoring healthcare plans as well as their plan participants. Under the No Surprises Act (NSA), enacted as part of the Consolidated Appropriations Act, 2021 (CAA), the federal government has recently mandated prescription drug data collection (RxDC) in an effort to create greater system-wide transparency.
The Family Medical Leave Act () entitles eligible employees of covered employers to take unpaid, job-protected leave for specified family and medical reasons.
What sets us apart at Eastern Benefits Group is our amazing team of employees. Thanks to their outstanding leadership, we’re not only able to provide superior customer service to our clients but also uphold our commitment to giving back to our community year-round. As we continue to spotlight our team members here at EBG, we’re proud to introduce you to Vice President, Benefits Administration, Michelle Nelson.
At the onset of the COVID-19 pandemic, Eastern Bank’s CEO, Bob Rivers, came out of the gate with a “People First Strategy.” Our focus – as it has always been – was placed on the safety and wellbeing of our employees, clients and communities we serve. Since then, Eastern Bank became a founding donor and administrator of the Massachusetts COVID-19 Relief Fund issuing nearly $10M in support to our neighbors in communities across New England.
This month, we are excited to introduce you to our latest colleague Abu Patrick, who has been with our team for eight years and was recently promoted to Account Executive, Benefits Implementation Specialist.
As of July 1, 2018, the new Massachusetts Pay Equity Act (MEPA) went into effect. This is a very important change in the law that Massachusetts employers need to be aware of and compliant with.
Today’s modern workforce is the most diverse it has been in decades with workplace demographics spanning four generations — Millennials, Generation X, Baby Boomers, and the World War II generation. Even the oldest members of Generation Z, born between 1995 and 2014, are graduating college and beginning their careers. In 2015, millennials surpassed Gen Xers as the largest generation in the U.S.
Retirement may seem like an abstract idea far in the future when you’re in your 20’s. You may have just graduated college or bought your first home. And with bills and student loans weighing you down, saving for retirement may be the last thing on your mind!
However, preparing now for retirement is crucial, and the sooner you get started, the better. The biggest advantage to starting young is time. The more time you have, the more you can save for your retirement.
Employee benefits and perks carry a lot of weight when a prospective employee is considering their next career options. And employee perks are especially useful for retention efforts — they’re a good way to keep your employees feeling happy, engaged, and valued on a daily basis.
Technology is an integral part of the benefits industry. With the right solution, Human Resources employees and Benefits Managers can operate their business and drive productivity. But adopting a benefits administration solution is a big decision and requires planning. Here are 5 must-do's before implementing new benefits administration technology.