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Company Wellness Programs: Bank or Bust?
When it comes to company wellness programs, 88 percent of employees feel their employer has no significant impact on their overall well-being. “But wait,” an employer might say, “we have a company gym to promote wellness, right?” Unfortunately, the Field of Dreams line of “If you build it, they will come” doesn’t apply here. Well-being includes elements other than the physical kind.
PTO TBD: Healthy Families Act Would Make Workplaces ‘Keep Pace’
According to a LinkedIn announcement made last Wednesday, President Barack Obama will call upon Congress today to pass the Healthy Families Act. This bill would require companies to give workers up to seven days of paid sick leave per year.
More than 50 Percent of Employees Confused About Open Enrollment
Open enrollment can strike fear in the hearts and minds of many. Because let’s face it: Benefits can be confusing. According to the 2014 AFLAC Workforces Report, 73 percent of employees think health care reform is too complicated to understand. For HR professionals, this statistic is a huge concern. Perhaps the reason for this confusion is a gap in communication between HR and employees. How did this happen? How can HR keep employees engaged? The solution is quite simple: Educate, educate, educate.
3 Spousal Benefits Gained by Same-Sex Couples in Supreme Court Ruling
Early October marked a turning point for same-sex couples, as The Supreme Court let lower court rulings stand that overturned bans on same-sex marriage in five states. This decision granted same-sex spouses equal state tax treatment for employer-provided benefits. The court declined to review decisions from three federal appeals courts, therefore legalizing same-sex marriage in Indiana, Oklahoma, Utah, Virginia and Wisconsin.
What You Didn’t Know About Getting Paid
When you applied for your job, you agreed to make a certain amount, but that’s probably not the same amount you see on your paycheck. So, where does it all go? There is a lot of behind the scenes work that happens before you get your check. There are certain deductions and taxes that have to be withheld. Thank goodness someone knows what they’re doing, right? Next time you see your payroll specialist, thank them.
Fool Proof Your 401k Plan Today
The harsh reality is you may pay more in fees than what is in your retirement! This is the unfortunate reality many are facing, as the Department of Labor estimates 77 percent of 401k plans are out of compliance. To be deemed “qualified,” a 401k plan must satisfy the requirements listed under the Internal Revenue Code Section 401(a). If a plan fails to meet these requirements, then the plan is deemed “disqualified” and favorable tax benefits may be lost.
5 Tips for a Successful Wellness Fair
Employee wellness affects more than just medical costs. For companies, an unhealthy employee hinders office productivity. Often times these medical costs are caused by preventable and modifiable health concerns. Rather than risk losing thousands in productivity costs, promoting healthier lifestyles has shown to be advantageous for companies.
Do Healthy Workers Create a More Profitable Business?
From workplace politics to government compliance issues, businesses are presented with a slew of challenges, but one that often times goes unnoticed is the health of your workers. Did you know that the Health and Safety Executive reported around 27 million working days were lost in 2011 and 2012? Of those missed days, 22.7 million were due to work-related illness and 4.3 million were due to workplace injuries. How is a business supposed to stay in the black, improve their bottom lines and increase employee retention?
Outsource COBRA to Avoid the Deadly Bite
Following the introduction of the Affordable Care Act (ACA), one question that may linger on employers’ minds is this: “How will this reform affect COBRA?” With the ACA’s health care reform, the business of employee benefits is even more complicated, yet almost all employer groups are required to comply. COBRA – aka the Consolidated Omnibus Budget Reconciliation Act – especially applies to private-sector companies offering group health care to 20 or more employees. If mishandled, COBRA can strike and the repercussions could be detrimental to your business.
It’s Beginning to Look a Lot Like Christmas … Vacation: Planning Corporate Holiday Schedules
It’s the most wonderful time of the year … and one of the busiest times for employee schedules. The Christmas season quickly can turn blue for both employees and companies when holiday vacations and paid time off (PTO) aren’t handled well. The Fair Labor Standards Act (FLSA) does not require employers to provide paid federal holidays for employees — in fact, it doesn’t even bar companies from asking (or forcing) employees to work Easter, Thanksgiving or Christmas Day.
Companies with Employer-Sponsored Health Plans Must Still Notify Employees of Exchanges
Many U.S. employers offer health insurance coverage to their employees and have been doing so long before the Affordable Care Act (ACA) was signed into law in March of 2010. However, these employers may still be impacted by ACA regulations including the requirement to notify employees of health insurance exchanges regardless of the quality of their own employer-sponsored health plans.