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
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 [...]
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.
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 [...]
Recently released proposed regulations by the Internal Revenue Service will be applied for the taxable years that begin after December 31, 2016. The recent announcement is about implementing some of the rules previously announced in IRS Notice 2015-87. Along with the other regulations, a new rules was introduced regarding opt-out payments. As per the rule, employers that offer opt-out [...]
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 [...]
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
Celebrating the 4th of July is one of the most exciting things about summers. You get to spend time with family, have barbeques, go to beaches, watch fireworks and take part in all the fun activities. The very spirit of the day is not just about United States of America being officially declared as a country, it’s about celebrating the values that the nation was founded upon. The declaration was written with the theory that every pers [...]
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.