6 Key Employee Benefits Trends for 2023

Over the last few years, almost every aspect of the workplace has changed, leading to many unforeseen challenges. Current labor challenges are forcing employers to find ways to balance rising costs and inflation while providing employees with benefits they value and need. Understanding this year’s key employee benefits trends can help employers assess whether their offerings meet employee demands and needs so that they can attract and retain talent.

This article discusses six key employee benefits trends for 2023.

401(k) Employee Education Seminar

Never Underestimate the Value of Employee Education and Engagement.

With ongoing market volatility, participants increasingly seek advice around risk, performance, and fees associated with their plan’s investment options. At Thomas Financial, we deliver custom-made live and virtual participant education and communications programs.

Here’s a brief clip of a virtual seminar.

The Importance of Staying Invested

When markets are volatile, either up or down, it’s easy for investors to let emotions like euphoria or fear get the better of them, causing impulsive investment decisions.

Top 5 Tips to Stem the Rising Cost of Healthcare

With employer-sponsored healthcare costs expected to rise 7.6% in 2022, employee benefits are a significant investment for any size company. Thomas Financial is dedicated to saving employers time and money, while improving the benefits experience for their employees.
Does your benefits advisor provide you with a comprehensive set of cost-controlling options? Check out our Top 5 Pro Tips to keep costs down.

Death and Taxes: Hard Lessons from Prince’s Lack of Estate Planning

Prince Died in 2016 Without a Will or Estate Plan. After six years, the IRS and the estate’s administrators finally agreed to an estate value of $156.4 million. An estate the size of Prince’s could incur up to $84.9 million in estate taxes, due within nine months of the final valuation. Life insurance is a cost-effective and efficient way to fund estate tax obligations for pennies on the dollar. If properly structured, the life insurance death benefit will not be subject to income tax or estate tax.

Holistic Financial Planning

Holistic financial planning is an ongoing process, defined and directed by your personal and financial needs and goals, as well as your values. We believe that by taking the time to identify your objectives, you are more likely to develop a sound and workable financial plan, which will enable you to achieve your most important aspirations in the future.

Leslie Darrigo, Chief Operating Officer

Thomas Financial Names Leslie Darrigo as a Firm Principal

Anyone who has done business with Thomas Financial knows Chief Operating Officer Leslie Darrigo as a fierce client advocate from the underwriting process until the final claim is paid. In recognition of her 37 years of service excellence with Thomas Financial, we are proud to announce her appointment as a Principal and Equity Partner.