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Health insurance is often the biggest-ticket item in any company’s benefits package, and the cost of health insurance rises on average each year , historically. Companies spend a lot of money, time and effort to make their benefits competitive and provide quality group health insurance plans to employees.
A business leader can’t eliminate all risks, but insurance can provide some cover should the sky begin to fall. Despite this, insurance is an area where owners often try to skimp on the type of insurance they pay for or the amount of coverage they choose. Property insurance . Workers’ compensation. Professional liability.
Learn more about lawsuits and their legal and financial implications. The post CrowdStrike Faces Lawsuits Over Global Outage, Likely to Drive Up Insurance Costs appeared first on Spiceworks Inc.
In this article, we will: Provide links to federal guidelines on the topic Consider possible pros and cons of requiring vaccines for employees Outline four common approaches Explore exceptions employees may seek to vaccination mandates Identify five potential legal issues related to the topic. Incentivizing vaccines.
In those cases, from a legal and compliance standpoint, your organization’s role is to gather as many details as you can about how the injury happened, such as: The time and date when the employee was hurt The activity that preceded the injury The nature of the injury. Despite your emphasis on work-from-home safety, injuries may happen.
“The case eventually ended up being thrown out,” Gobel says, “but not before I ended up with a $1,500 legal fee.” As a freelancer or independent contractor, you may think your business is too small to need insurance. Client contracts sometimes even require you to have freelance business insurance.
As a co-employer, the PEO you choose will ultimately take responsibility for payroll processing, providing workers’ compensation insurance coverage, providing an employee benefits package and a host of other sensitive human resources (HR) and administrative tasks. To learn more about CPEOs, read: What is a CPEO?
Their benefits include: Healthier employees, which can help companies contain health insurance costs Less absenteeism and, therefore, greater productivity Higher morale A sense among employees that their employer cares about them in a holistic manner – beyond their functional role at work – which can strengthen loyalty and improve retention.
The most obvious concerns stem from the legal issues surrounding your current state’s laws and how different the laws are in your new location. Before you start to pack any boxes, obviously, it’s wise to consult legal counsel. Yet HR-related laws and regulations are increasingly complex.
To help you figure out whether your workers are classified correctly, we’ll cover: Basic legal resources and information you need to know Who enforces the law on worker classification, and what happens if you’ve misclassified workers (either intentionally or unintentionally) The most common mistakes you should avoid to stay out of trouble.
And that’s exactly what business insurance does. Nearly every conceivable risk a business might face is covered by a type of business insurance,” says Darrell McGee, program manager at Insperity Insurance Services. Property insurance. Also, it typically covers the legal costs involved in the lawsuit.
Unfortunately, there’s a misperception among many hiring managers that military members only learn combat skills. If your military employee deploys for weeks or even months, your company is legally required to hold their job for them for the duration of the deployment.
Long ago, child labor was common and legal. At the turn of the last century, workers had few legal protections from wage theft or unsafe working conditions. Some states have legalized only medical use, while others have decriminalized or legalized recreational use. gathered for insurance purposes, for example.
To learn more about the benefits that PEOs offer for midsize businesses, download Professional employer organization services come to the rescue of midsize businesses. Access to Fortune 500-level benefits When joining a PEO, companies can can access to PEO-sponsored benefit plans.
Everyone wants less expensive benefits and insurance (and without having to scale back on coverage). To learn more about how the HR outsourcing savings that can benefit your business, download our free magazine: The Insperity guide to HR outsourcing.
Health insurance Health insurance aims to assist employees with the costs of obtaining medical care. Optional dental and vision care are usually offered alongside health insurance for an added fee.) To confirm your company’s legal obligations for these types of insurance, check the laws in your particular state.
The legal liability for data breaches and failure to comply with data privacy laws can incur prohibitive costs, including fines and penalties. Learn to spot and prevent phishing. Contact your company’s insurance provider, if you have cyber liability Insurance. Never open an unsolicited email attachment or unknown file.
The upside of a severance package is that it affords your organization some legal protections. Work with your legal representatives to ensure your severance agreement language is in full compliance with the states where you operate and where your employees work. The reason to not offer severance pay is usually financial.
Moving beyond standard To really get ahead, companies should consider a shift from only offering the most common benefits – or, at minimum, what’s legally required. Certain benefits are now viewed by prospective employees as standard, meaning that: They assume your company offers them, because they are, in some cases, legally required.
The nuances between what legally constitutes a person and an employer aren’t always clear-cut when it comes to FLSA compliance. And if you think insurance can shield you from such expenses, think again. Generally, offering comp (compensatory) time in lieu of paying overtime is not legal for private employers.
However, when your employees are operating a company fleet vehicle or driving on official business, that assumption can open the door to potential safety incidents and legal liability. Also, take every opportunity to share relevant data and lessons learned so they can understand and avoid repeating others’ mistakes.
What are the legal responsibilities for accommodating someone with mental health-related issues? A request for time off may be the first time you learn that your employee is struggling with a mental illness. How should you handle a request for time off due to mental illness? Has the employee been diagnosed?
Learn what to do when employees request a leave of absence from work and how to minimize the impact of their leave on your business. Short-term disability insurance and long-term disability insurance are both designed to provide replacement income to your employees in the event they’re unable to work due to injury or sickness.
Once businesses reach the 50-employee threshold , expand into other states and municipalities or hire remote employees who reside elsewhere, they can be subject to more legal and regulatory complexities. How can midsize businesses benefit from PEOs?
Add in the news stories regarding the increase in opioid abuse and the possibility of legal, medicinal or recreational marijuana use in certain states, and you can quickly find yourself grappling with a complicated, delicate HR issue. What should you do when you learn of an employee’s potential substance abuse issues?
Co-employment is the legal structure that professional employer organizations (PEOs) and their client companies use to share HR responsibilities. the amount of loss that you experience compared to the amount of loss that similar insured companies have) when you join or leave a PEO. Hello, human error.).
Always review with legal counsel to oversee the process and to answer any questions about foreign national sponsorship and the changing laws that affect employment. Federal law requires all employees complete an I-9 form for legal identification. Comply with insurance requirements. Customs and Immigration Services.
You’ll also need to factor in workers’ compensation , should an on-the-job injury occur, or unemployment insurance, if you have to lay off employees. Unlike full-time employees, part-time employees have less time to invest in learning the ins and outs of the organization, and may lack valuable institutional knowledge. Seasonal support.
A history of working in these various legal and regulatory environments is ideal. Do you carry employment practices liability insurance (EPLI)? Is the plan fully insured, or self-funded? In contrast, under a self-funded plan, the employer (not the insurer) is responsible for paying the claims.
As the plan sponsor, the PEO will handle the related administrative tasks, such as negotiating with carriers, enrolling employees, providing legal notices and handling COBRA administration. Insurance premiums and claims management – both of these components make workers’ comp costly and time-consuming. Workers’ compensation.
Lower health insurance premiums? Research over the years has offered conflicting reports on whether wellness programs actually reduce insurance and workers’ compensation claims. Host healthy lunch-and-learns on a variety of topics, from financial wellness and nutrition to local history. Happier, healthier employees?
You also need to track voluntary deductions like health insurance and 401(k) contributions, prepare and file quarterly reports, and process w-2s at the end of the year. Making payroll mistakes is easy, especially if you don’t have much time to devote to learning how to stay in compliance. And those payroll mistakes can be costly.
While the rules vary from state to state, there’s one consistent underlying theme: To qualify for unemployment insurance, employees must have lost their jobs through no fault of their own. Unemployment claims chip away at your bottom line — racking up charges to your unemployment insurance account and increasing your tax rate. (An
Get the help you need to: Provide employee access to big-company benefits – When outsourcing, everything from medical health insurance and dental and vision coverage to adoption assistance and training and development resources are in reach. For instance, millennials want to continually learn and grow. Employee retention.
There are no legal requirements to keep in touch with workers while they’re out on leave. They can also reach out about changes that may impact the employee, such as reminders about open enrollment periods for health insurance. Want to learn more about creating a better employee experience? Some ways to do this include: 1.
An employee’s health insurance continues during their leave, as long as the employee pays their usual portion of the premiums. Employers are required to obtain paid family leave insurance. If your company self-insures on disability benefits, you may purchase a separate paid family leave policy or apply with the state to self-insure.
Social prescriptions, like I said, also apply to food, money, housing support, legal support—because those things affect our health too, right? By the way, direct marketing of prescription drugs is only legal in the United States and New Zealand. That’s how I learned about what depression was. Not so much.
But now, because the Affordable Care Act (ACA) paved the way for the creation of state health insurance exchanges, there’s at least one reason to warm up to the law: COBRA is no longer the only viable option for continuing health coverage. Divorce or legal separation. Health insurance is a numbers game. COBRA quickie.
Professional expenses such as licensing fees, insurance, and membership dues can add up fast. You’ll also need to buy computers, printers, phones, a scanner, dictation recorders, legal software, and client relationship management software. To learn the details, check out Clio’s key benefits for your firm! #3:
A history of working in these various legal and regulatory environments is ideal. Do you carry employment practices liability insurance (EPLI)? Is the plan fully insured, or self-funded? In contrast, under a self-funded plan, the employer (not the insurer) is responsible for funding the claims. Are you a CPEO?
To clear things up, we’ve put together this extensive guide breaking down what you should and shouldn’t include in your employee files — so read on to learn more. Also, you’re legally obligated to retain these records for at least one year by the EEOC. health insurance, dental, vision, etc.).
HR service providers will have well-crafted, legally tested policy recommendations that can be customized for your business. Improving legal compliance and risk management Small business owners have a lot of things to worry about, and staying on top of changing employment laws may not always make it to the top of the list.
Legal Guide for Starting & Running a Small Business (18th ed.) By Stephen Fishman Publisher: Nolo This new edition, updated to reflect recent changes to the law, now includes some best practices for how to run your business and handle legal issues relating to insurance, employees and more. The P.A.I.D.
Buying health insurance can be a costly endeavor. Most Americans must have health insurance or face a tax penalty. Purchase coverage through a state or federal health insurance marketplace. This means that the insurance carrier will pay an even greater share of the cost of essential health benefits covered under the plan.
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