{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Beyond the Paycheck","title":"What 50% benefits renewals mean for your paycheck","html":"","width":"100%","height":180,"duration":1406,"description":"Summary\nWhat happens when benefits renewal costs rise 15% to 50% while wages rise 3%? In this episode of Beyond the Paycheck, host Kelsey Willock Jones sits down with Chuck Heaton, Vice President of Human Resources and Chief Compliance Officer at Perma-Pipe, to talk about the \"Armageddon year\" brokers are warning about and whether it marks the beginning of the end of company-provided benefits. Drawing on more than 30 years in HR across textiles, retail, oil and gas, and manufacturing, Chuck shares why payroll errors are same-day emergencies for people living paycheck to paycheck, why the spouse or partner is often the real benefits decision maker at open enrollment, how a total rewards transparency play won a union over to company benefits, and what fiduciary responsibility really means for employees' retirement money. A candid conversation for HR, benefits, and finance leaders navigating the toughest renewal cycle in decades.\n\nChapters\n00:00 Welcome and Chuck's path through 30 years of HR\n03:05 A first paycheck at Shaw Industries and where the money went\n05:00 Payroll errors are same day emergencies\n06:55 The spouse is often the real benefits decision maker\n07:45 Supporting the whole person without wasting benefits spend\n09:30 The total rewards play that won over a union\n12:05 The benefits Armageddon: renewals up 15 to 50%\n15:35 Fully insured, self insured, and the stop loss squeeze\n16:55 Financial wellbeing and a company's fiduciary duty\n21:10 Staying current with brokers and peer networks\n\nTakeaways\n- Benefits renewal costs are rising 15% to 50% this year while US wage increases sit around 3 to 3.5%, and the usual fixes of switching carriers and raising deductibles are running out of road.\n- Payroll errors are same-day emergencies, not next-cycle fixes, because employees living paycheck to paycheck face immediate rent, mortgage, and late-fee consequences.\n- The spouse or partner is often the real benefits decision maker, so open enrollment communication should...","thumbnail_url":"https://img.transistorcdn.com/JIYEsfsi51sw9dAl9I1QhUhSrAX9V6MCXZ34oR09gz4/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS80MTA4/NDk4NWM2OTI3Nzk5/Mjk4NzUxN2UyYjI4/NTg1Zi5qcGc.webp","thumbnail_width":300,"thumbnail_height":300}