The Affordable Care Act’s employer shared responsibility provision — often called the employer mandate or “play or pay” — requires large employers to offer health coverage to their full-time employees or face a potential penalty. (Employers with fewer than 50 full-time and full-time-equivalent employees are exempt.) Large employers can avoid the risk of any play … Continued
If you are concerned about your cyber security – and you should be – it’s essential to know the biggest threats to you right now. So, what is cyber security anyway? And how can you protect yourself? Cyber security is the practice of defending computers, servers, mobile devices, electronic systems, networks, and data from malicious … Continued
Are you an employer that offers or provides group health coverage to your workers? Does your health plan cover outpatient prescription drugs — either as a medical claim or through a card system? If so, be sure to distribute your plan’s Medicare Part D notice before October 15. Purpose Medicare began offering “Part D” plans — … Continued
Life insurance provides financial protection for your loved ones when you die. Essentially, in exchange for your premium payments, the insurance company will pay a lump sum known as a death benefit to your beneficiaries after your death. While this money can never replace you, it can help your loved one(s) live the kind of life … Continued
American companies are at a serious crossroads right now because of an unexpected consequence of COVID-19 known as the “Great Resignation.” CNBC reported earlier this summer that four million people had quit their jobs. This would be shocking under normal circumstances, yet these people quit stable jobs in the middle of a global pandemic. The majority … Continued
When the autumn leaves fall and the weather turns cooler, we know it’s time to start thinking of open enrollment. Open enrollment season can be a confusing time. As you begin your research into which plan to choose or even how much to contribute to your Health Savings Account (HSA), consider evaluating how you used … Continued
Enrolling in Medicare does not cause COBRA to start. Under the federal rules, COBRA must be offered to persons enrolled in the employer’s health plan only if they lose coverage because of certain specific events. Termination of employment is an example of a COBRA qualifying event. Becoming eligible for Medicare, or enrolling in Medicare, is not a … Continued
Amid the economic panic last year, workers were unwilling to sacrifice job security for a new work environment. Many workers felt it was foolish to re-enter the job market during a shut down. However, in 2021, employers have experienced high turnover rates and experts are now predicting a “turnover tsunami” in voluntary departures and resignations. … Continued
On July 1, 2021, the Department of Health and Human Services (HHS), the Department of Labor, and the Department of the Treasury (collectively, the Departments), along with the Office of Personnel Management (OPM) released an interim final rule with comment period (IFC), entitled “Requirements Related to Surprise Billing; Part I.” This rule related to Title … Continued
The EEO-1 Component 1 report is a mandatory annual data collection that requires all private sector employers with 100 or more employees, and federal contractors with 50 or more employees meeting certain criteria, to submit demographic workforce data, including data by race/ethnicity, sex and job categories. The filing by eligible employers of the EEO-1 Component … Continued
