33 posts found for category: Benefit-administration

At the outset, retiring seems like ending your earning days and enjoying a life of all relief and no alarm clocks. But underneath, this long-term financial planning requires tricky balance of your spending while not exhausting your future savings. However, when it comes time to withdraw from your lifetime savings, even a single mistake can ruin your successful savings making you a little bit penny-pinching and dependent. Here are [...]
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 Open enrollment is the time of the year that fill employers and employees alike with dread. No matter how prepared employers are, every time they have some new laws and amendments to look into. Although, many employers started understanding the ACA requisites and came into practice of practicing the law perfectly and formulate strategies to handle open enrollment seamlessly. But, this year again brin[...]
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Employee Onboarding is a crucial process that decides whether the new hire gets oriented in right direction or not. Having a formal orientation program with loads of paperwork for the new hire is not the best practice in today’s tech savvy world. With more tech-savvy millennials joining in, employers need to look for options that provide autonomy and self-sufficiency to the employees.  Employee self-onboarding tools streamline onboarding process and give employees the eas[...]
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TeemWurk announces the launch of its new self-onboarding tool “BREEZE” that will facilitate Groups to on-board themselves on TeemWurk, thereby reducing the manual data entry and data verification process.Breeze is a web-based client portal to make on-boarding experience soothing, simple and swift. With the speedier and easier Self On-boarding tool, Groups can successfully on-board themselves or brokers can on-board their employer clients in a fully controlled a[...]
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As the New Year rings in, everyone is decked up with resolutions and strategies to put to work. Employers and especially the HR professionals have come thorough a lot of challenges last year right from the beginning with the first-ever Affordable Care Act reporting, one of the most painstaking challenges of 2016!
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In a recent decision by a federal judge in Texas, the DOL’s (Department of Labor) new overtime rule under Fair Labor Standard has been blocked temporarily.
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The holiday season and probably everyone’s favorite time of the year is upon us again!  As Thanksgiving holiday gi[...]
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The Open Enrollment countdown has begun and employers’ panic has already made its way from the closed cabins to employee floors! Just[...]
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On December 1, 2016, the Department of Labor’s overtime rules are going to take effect and will certainly change the eligibility dimensions for employees in the domain of overtime pay and benefits. In a straightforward way, the new overtime rules will increase the eligibility criteria for overtime pay for executive, administrative, and pr[...]
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Paid Sick leaves work like a bonus for the employees and comes in their desired benefit list. But, in most of the cases, it completely depends on the employer that whether he/she is willing to offer employees this benefit or not! As a result, a debate has boiled up over regionally or federally mandated paid leaves. Moreover, some cities and states, have even enacted sick leave law, which made it necessary for [...]
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Employee benefits education is though not given a top priority when it comes to engaging employees, but it could be a key component in increasing employee engagement. Employee benefit education is mostly misunderstood with providing employees with benefits advice, but it is not exactly the same. It may lead to advice, but the prime motive is to provide employees the knowledge, skills and tools to make their own benefit decisions.
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When we talk about consumer choices and preferences, it has been observed that consumers always look for more options and can even react negatively when the options are restrictive. Considering the fact, it must be assumed that same active approach must be adopted while making benefit coverage purchase decisions. But, the trends show an opposite picture! Till 2011, majority of employers, nearly 71%, opted for the passive open enrollm[...]
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Recently, the Department of Labor (DOL) has announced two interim rules under the Federal Civil Penalties Inflation Adjustment Act of 2015 that aims to significantly increase the penalties under Employment Retirement Income Security Act (ERISA). As per the new rules added, agencies now have to make “catch u[...]
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Health benefits marketplace and legislative changes go hand-in-hand that make employers baffle out while choosing benefit packages for their employees. Moreover, employers are always under constant pressure about the adequate benefit coverage they must offer to their workers in order to meet their present and future needs. Since benefit offerings are one of the considerable aspect while attracting and
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Recently, an interim final rule has been passed by the Center for Medicare & Medicaid Service (CMS). The new amendment was made to regulate the Consumer Operated and Oriented Plan (Co-op) programs and tighten Special Enrollment Period (SEP) eligibility in the health insurance marketplace. 
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Cyber attacks are costing businesses in a serious way no matter how big or small they are! According to a recent study, cyber-attacks were the top most reason for healthcare data breaches in 2015 that adversely affected healthcare industry further raising concerns for patients, employees and organization’s reputation. So, what can be done to safeguard the precious healthcare data from cyber at[...]
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Providing good benefits package to your employees can be one of the best decisions you can take to make them feel happy and satisfied. This will certainly lead to better workplace environment and increased productivity.But, apart from providing wonderful benefit plans, it is also important to deliver them properly to your employees. And it is not at all restricted to s[...]
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With Department of Labor (DOL) releasing the final version of the fiduciary rule, there has been an enormous amount of coverage over the compliance rules and how it affects employers and pan sponsors. Despite of a lot being written and said about, the communities that are going to get directly affected by the rule, are only in a dilemma. Here are a few frequently asked questions about the rule:
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With the rally of legislative changes, new provisions and rules coming into effect, a lot is being said about the existence of brokers. But the fact is- with the rising complexities, employers are now in much more need of expert guidance on employee benefits administration and management. There lies a significant opportunity for brokers to help their employer clients manage benefits while complying [...]
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It’s a real good news for the members of financial advice industry as well as individual investors! As the Department of Labor launched the new rule for financial advisors- “fiduciary rule”, bringing the interest of investors first by setting fiduciary standards for advisors. With the much anticipated rule, it is being said that arou[...]
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Organizations, at present, are increasingly expecting a lot more from their brokers, rather than just negotiating prices and insurance policy packages – to act as consultants. Not only this, the latest changes and new regulations with ACA have successfully played their part to increase this trend further. Employers now seek for more consultative services from their brokers that include guidance and advice about ACA compliance, reporting requi[...]
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Recent ups and downs in the ACA regulations and the all-new reporting requirements have triggered an immediate need for organizations to start searching for a benefits administration partner so that they can shed the load off their shoulders freeing themselves from the compliance hassles and concentrate on making their business more successful. Normally, organizations opt for a benefits administration solution to fulfill following requirements, according to[...]
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While Thanksgiving purports to be the day when all friends and family members gather to celebrate the bounty of harvest, the blissful lives we live and so on; many of us just wait for that perfect Thanksgiving feast that permits us to dodge all our dietary restrictions. The celebration offers a lot of sugary treats and even workplaces are not excused from the festive fever!Apart from the dinner deli[...]
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Every year, employers and their benefit partners tweak their open enrollment strategies to successfully fulfill their employees’ needs while remaining compliant with various rules and regulations. But, to everyone’s surprise the law brings in new aspects every time, making benefits open enrollment season, the most complex and hectic time of the year for every party involved.Here’s a look at so[...]
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Medicare, the government-run health insurance program for Americans aged 65 years and above and for those having any disabilities, is not that easy to understand. It offers different plan options including Part A, B, C & D and there are a number of things that are associated and are not completely known to the beneficiaries.The annual enrollment period gives a chance to the beneficiaries to change o[...]
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Communicating about open enrollment has always been a challenging task for the employers. The topic is a complex one  and that is why employees typically don’t get engaged easily.  However, you can always package and present it differently and make it better looking by dressing something up.But, in the process of communicating about open enrollment, employers are likely to make some mistakes which can ruin the overall experience for the employees and so[...]
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Employers have started to become the center point of ACA imposed provisions as we move into 2015. Under the ACA provisions, all ALE (applicable large employers) are required to provide health coverage to full-time employees. In order to verify if the individuals are getting minimum essential coverage, ALEs are meeting pay or play (employer shared responsibility) obligations and if the individuals are entitled to premium tax credits, employers having 50 or mo[...]
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If you’re about to tie a knot, then be informed that a change in your marital status can largely affect your health insurance premium costs; you might come under the burden to pay a big chunk of money!!Here are the common situations that couples generally come across:Ques -  A lady had a single coverage through the Marketplace fro[...]
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Employers take months to determine what type of benefits they will offer to their employees or what changes they are going to make for the new financial year. They go to great lengths to study the data in order to understand the costs involved and health care risks. And then they go in panic mode as to how these changes have to be communicated to the employees. Well, having followed these ways, empl[...]
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April 2 marks the National Employee Benefits Day as decided by the International Foundation of Employee Benefit Plans (IFEBP). Every year, the day motivates employers to analyze their benefit offerings and explore other options that can be beneficial for the employees.This year, the day is to be celebrated keeping a special focus on Wellness 2.0 that demonstrates the expanding employ[...]
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TeemWurk is emerging as a popular name among the small and medium sized businesses on pretext of the services it is offering to this group. Our Magical Benefits Bus is doing wonders as a one-stop solution for all benefits administration, Payroll, HRIS & EDI needs of businesses of all sizes. There are many workforce management solutions that are available in the market, but not many come along as an [...]
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Open Enrollments season is just around the corner. All the employers, brokers and administrators are gearing up for the season in order to ensure that they serve employees with efficient and effective benefit administration. Though, these all make efforts to make the process right, employees must know what they need to do to get appropriate health coverage and how to avoid any mistake or discrepancy during op[...]
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United States Department of Health and Human Services has not yet given any exact figures relating to the number of enrollments that are done “on-exchange” and “off-exchange”. They have yet not made any estimation for the people signing up for the marketplace or federal exchange.Although, the exact figures are still a surprise to all Americans, those will interpret the fate of Obamacare and will prove if Obama Administration is able to[...]
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