This weekend is Halloween! With everyone busy around making jack-o-lanterns, preparing spooky costumes, and kids getting excited for their candy treats, employers are already scared about the open enrollment period just underway. October end marks the beginning of the Open enrollment period that runs down till January. Though it’s a horror thing for employers, for employees too it’s a headache. Many try to avoid spending much time in evaluating or revie [...]
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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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Business owners, every year, frequently complain of an outbreak of new legal regulations and requirements. Paid sick leave is not far behind in this list of laws and continues to trouble employers of all sizes. Moreover, signing of an Executive Order by President Obama, permitting federal contract and subcontract employees to avail at least one hour of sick leave for every 30 hours of work done, has probably put all federal contractors in action. Many organ [...]
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The season of Open enrollment is that crucial time when healthcare agents and brokers are the most called upon for advice and guidance on various healthcare plans. The role of brokers in today’s dynamic market scenarios has been re-defined as a “Know-all” guide for all benefits and enrollment queries. Right from deciding the appropriate health insurance plan to understanding the legal requirements, they have to answer a whole lot o [...]
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On Sept. 17, 2015, IRS released the final version of Forms 1094 and 1095 along with the related guidelines and instructions. The forms will be used to enforce Section 4980H for employer penalties, as well as for tax credit eligibility rules and individual mandates. The key provisions in the final instructions included:- Time ex [...]
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In a move to protect employees doing overtime, US Department of Labor, has proposed a new overtime rule. The department itself claims that roughly 25% of country’s exempt employees will be rendered non-exempt and will be made eligible to receive overtime pay.  How does the rule affect organizations?
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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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As employers prepare themselves for 2016 open enrollments and adapting to different health plans for their employees, another critical matter that’ll grab all the attention is the impact of Affordable Care Act’s high-cost plan tax (HCPT), commonly known as Cadillac Plan Tax, on employers and their decisions on offering health benefits.As the tax is about to come into effect from 2018, it is expected to affect one in every four employers and the number m [...]
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As the Social Security Act completes 80 years since the law was signed, Americans are found to be having believed that the premier retirement program is in trouble and not many are confident that they will be able to draw their benefits.A recent Gallup study has revealed that 66% of Americans are quite s [...]
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There’s been a lot of speculations regarding the effects of Obamacare on employees, employers and brokers, ever since the law came into effect. Since then, every sector, for that matter, has been facing considerable challenges. The need is to overcome these challenges and find a safe passage through these rocky mountains.Here are some of the challenges that brokers face while under Obamacare and how they can make these challenges a new way for success.
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