In study after study, we see voluntary benefits leading the charge — along with compensation — as the top retention strategy among employers globally. This has been the precedent for several years now, and this trend is forecast to continue. As noted by consulting firm Willis Towers Watson, voluntary benefits have historically been viewed as […]
Many employers are aware of the requirements for administering COBRA (the Consolidated Omnibus Budget Reconciliation Act), but few are prepared to deal with COBRA violation penalties from noncompliance. In fact, the simplest of mistakes can lead to lawsuits with massive financial rulings that can include penalties of up to $110 per day per person, and […]
Many employers offer an HRA plan, but new varieties are on the way. On June 13th, 2019, The United States Treasury Department, Department of Labor, and Department of Health and Human Services issued a final ruling that lets employers offer an Excepted Benefit HRA (EBHRA) and an Individual Coverage HRA (ICHRA). Employers are celebrating the […]
DATE: Wed, Nov 13, 2019 TIME: 2:00 pm EST to 3:30 pm EST Register for the webinar here After registering, you will receive a confirmation email containing information about joining the webinar. Request a recording here if you are unable to attend the live session. While the fate of the Affordable Care Act (ACA) remains uncertain, […]
DATE: Tue, Dec 17, 2019 TIME: 2:00 pm to 3:30 pm EST Register for the webinar here After registering, you will receive a confirmation email containing information about joining the webinar. Request a recording here if you are unable to attend the live session. Employee engagement is one of the most significant challenges and the […]
Health Savings Accounts (HSAs) are a great way to save money on medical expenses by setting aside income on a pre-tax basis. For many Millennials, taking advantage of HSA funds is the perfect way to plan for unexpected medical costs while maintaining financial flexibility. For Millennials with student loan debt and a history of low […]
Leaders cannot succeed without a strong team behind them. This is true whether your company is a startup with one employee who is relying on a few outside advisors or the CEO of a large company with thousands of employees. The key to team-building is to leave your ego at the door and accept that […]
Paperless payroll is a paper-free payroll process that has become hugely popular in recent years. But despite the groundswell of support for paperless payroll solutions, employers should examine the details before making the switch. Six pros of paperless payroll Electronic storage — Stores payroll documents on your computer, eliminating clutter and making payroll documents easier […]
The IRS defines fringe benefits as “a form of pay (including property, services, cash or cash equivalent) in addition to stated pay for the performance of services.” They include: Medical, dental and vision insurance. Disability insurance. Life insurance. 401(k) matching. Paid holidays. Paid vacation, sick and/or personal time off. Wellness programs. Transportation benefits. Pet insurance. […]
It is well-known that the Affordable Care Act (ACA) imposes strict penalties on employers who fail to comply with its requirements. Annual penalties for incorrect or late filing and plan compliance can be devastating, and the penalties are increasing. With higher penalties and aggressive IRS enforcement of ACA mandates in 2019, it is more important […]
