Needless to say, “open enrollments” is a term that brings a lot of pressure and headache for both the employers and employees. Even majority of employees, in order to avoid getting into hassles of evaluating different benefit options, stick to same plan for years.The entire process including benefits planning, communication, and enrolling is a tiring one and entails a lot of confusions and dilemma for all the benefit participants. But, to ensure  [...]
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Over the last two years, Internal Revenue System, Department of Health and Human Services and Department of Labor have individually issued FAQs that state that the employer payment plans or the premium reimbursement plans for health coverage of individuals are prohibited as they are not in compliance with the Affordable Care Act and Health Care Reform. Any employer found violating the rule would be subjected to pay an excise tax of up to $36,500 per year th [...]
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Cash flow is considered as the lifeblood of any business, particularly for small businesses. Thus how it’s managed can drastically affect the success or failure of the business. It is important that businesses keep handling cash flow on priority and ensure that they have adequate finances to fulfill all the expenses in a timely fashion.To satisfy this need, following 5 tips might prove to be helpful:#1. Mak [...]
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The past few years have seen a standardized inclusion of traditional voluntary benefits in the employee benefits package, particularly in large organizations. But some savvy employers have now initiated a new trend of incorporating more non-traditional or unconventional benefits in their employee wellness offerings that helps them attract, recruit and retain talented employees. According to a
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Irrespective of the ambiguities Affordable Care Act has created, new sources of advantages have emerged for individual health insurance market. These changes positively aid American citizens as well as insurance carriers who continuously put efforts to make their business adaptive in order to thrive successfully in the ever-changing health insurance market.But how? Let’s examine! [...]
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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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In many ways, small businesses are considered as the powerhouse of our economy. This reality is celebrated this National Small Business Week (4-8 May) by a series of events.There are around 20 – 30 million small business in the U.S., who employ almost 60% of the nation’s workforce. Moreover, they are the majority payroll payers, amounting up to 44 % of the total country’s payroll. Now you know  [...]
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The concept of retirement has taken a long leap in terms of complexity. Those days are long gone when everybody used to retire at the same age. Today’s generation is forced to work till an older age due to the insecurities developed through recent recession. Along with that, legislation and business practices are also altering the retirement age more and more.Adding to the complexity, providing pe [...]
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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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As Affordable Care Act or better known as Obamacare, celebrates its 5th anniversary in 2015, one question that still looms over is what is the public’s opinion about the Act? Over the years, public opinion has shown more fluctuations than the stock market itself. A recent survey by Kaiser Family Foundation (KFF) has put some light on public’s opinion o [...]
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