This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
per hour, per employee, for health-insurance costs, according to Sept. In 2021, employer expenses for health insurance are expected to rise by 3.9 In 2021, employer expenses for health insurance are expected to rise by 3.9 However, a major driver of increasing health-insurance costs is plan usage and claims history.
Latin America’s insurance market is booming—both in premium growth and complexity. The opportunities available to global, regional, and local insurers are immense.
The personal property and casualty insurance industry grew in 2023, fueled by rate increases in developed markets. The opportunity now is to expand coverage to new markets and sectors.
There are bright spots for growth in global life, retirement, and health insurance. But to combat stagnant demand, the industry needs to find new sources of growth beyond its core products.
Understanding which injuries your workers’ compensation might cover, adapting your safety program and updating your claims reporting process can help your organization handle injury claims more efficiently in the age of remote work. What counts as a work-related injury at home? What does a workers’ compensation investigation involve?
This includes medical, dental and vision coverage, a health care flexible spending account , a retirement plan, life insurance and personal accident insurance, short-term and long-term disability insurance, adoption assistance, commuter benefits and educational assistance. EEO reporting and claim resolution.
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. Is the plan fully insured, or self-funded?
Not only do you have to figure out the proper way to pay your people, you have to withhold the appropriate taxes, deposit them and report them to the government. Understanding the difference means knowing how to report income, withhold and pay taxes, and handle overtime for each group. Verify employee classification.
Despite this, a sizeable portion of employers report wanting to return to the office full time , for various reasons. This includes: Retirement account (401(k)) Health insurance (along with dental and vision insurance) Paid time off (PTO) Life insurance Disability insurance.
During open enrollment periods, employees report feeling confused (22%), stressed (21%), and anxious (20%). Some common misconceptions noted by Voya include a belief that unused Health Savings Account funds disappear at the end of a year or that the most expensive insurance premiums would always lead to the maximum cost efficiency.
Then, over the summer, she got a notice in the mail from the center’s liability insurance company that it was dropping the center’s policy. Even though the center’s licensing and accreditation were never at stake, the insurer said it would no longer cover the program.
This may include: Health insurance 401(k) retirement plans Healthcare FSA/HSA programs Life/disability insurance 2. Relief from payroll and HR administration overload Pass off your daily HR duties – like administering benefits, managing employee paperwork, processing payroll and tax reporting – to a group that specializes in HR.
According to a survey by the National Business Group on Health, 39% of large employers offer only high-deductible health plans (HDHPs) to employees for health insurance, which is up from 7% in 2009.
1, 2016, you’ll be responsible for filing new IRS reports each year. The ALEs who don’t comply with the employer shared responsibility rules could face a tax penalty if just one full-time employee buys individual coverage through a federal or state insurance exchange (aka marketplace) and receives a tax credit or subsidy.
You’re probably well-aware of the direct costs you pay in workers’ compensation insurance premiums, but you may not have considered the indirect costs of on-the-job accidents and injuries. Your workers’ compensation insurance carrier – Many carriers provide fee-inclusive safety consultation services to their customers.
Saving money on car insurance can be a double-edged sword. Many people buy car insurance once and don’t think about it again unless they’re in an accident. But it’s a good idea to review your policy to ensure you have the best car insurance and check for a better price every six to 12 months, depending on when your policy renews.
Contact your company’s insurance provider, if you have cyber liability Insurance. Report the data breach to local law enforcement or consumer protection agencies, if required by state law. Security specialists can also investigate the breach and collect information on how it happened and how much data was stolen.
Lower health insurance premiums? One 2012 report found that most North American employers who have analyzed the ROI of their wellness programs saved one to three health plan dollars per dollar invested. What’s in it for companies that devote time and money into health management programs? Happier employees? Cost containment.
Using the same chain of reporting that is used for a harassment issue may be the best course of action, however follow your company’s handbook for complaint-resolution processes, which typically use the company’s organizational chart and chain of command. This gives you and the HR department points of discussion with the bully.
This year's report is full of important findings, from increases in health insurance premiums to changes in employer contributions and growing use of new programs like telemedicine. Included in the report is information pertaining to employee health and wellness programs.
Bureau of Labor Statistics (BLS) Job Openings and Labor Turnover (JOLT) report from March 2022 , there are more than 11 million job openings in the U.S., Many companies provide a basic benefits package that may offer employees access to things like: Health insurance. Dental insurance. Vision insurance. Life insurance.
Secure photocopies of each new worker’s driver’s license and insurance (verifying that both are current). Before you begin working with your employees on safe driving practices, you first need to gather empirical data on the kind of driving conditions they face on a regular basis.
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.
Outside of health care insurance, research ways to offer your employees a wider variety of benefits. In a 2013 study, nearly half of employers (47 percent) reported that they usually or always hire candidates who have held the same job title as the position they’re hiring for, according to CareerBuilder.
According to a 2016 report from the Society for Human Resource Management , only about 7 percent of offices in the U.S. Regardless of whether you rent or own your workspace, it’s a good idea to contact your insurance agent about coverage for pet-related damages. Some ideas include: Offer a discount for pet insurance.
PEOs don’t assume responsibility for wage and hour compliance because the PEO must rely on what their clients report. Choosing to go with a certified PEO (CPEO) may seem like a small distinction when you’re comparing PEOs, but it can put your company in a much more favorable position in terms of tax withholding and reporting.
These administrative tasks include addressing issues related to: HR-related government compliance and reporting Benefits and COBRA administration Leave of absence compliance and support (FMLA) Employee relations issues. Meanwhile, as employee headcount rises, your HR infrastructure must scale and become more specialized.
Though you don’t withhold taxes for these parties, you may need to report the benefit to the government using one of the following forms: IRS Form 1099-NEC for independent contractors IRS Schedule K-1 (Form 1065), Partner’s Share of Income, Deductions, Credits, etc. Independent contractors you hire for a specific job can be recipients.
Unemployment insurance. Disability insurance (required in California, Hawaii, New Jersey, New York, Puerto Rico and Rhode Island). To attract talent and compete effectively, many businesses first elect to offer: Health insurance – Due to the rising costs of health care, this is a must in the eyes of many employees.
Generally, most PEO clients retain their eligibility for many grants and economic incentive programs, and the PEO can help you qualify for more of these special opportunities by providing you with organized employee information and reports that are readily available. Myth 4: “My employees won’t embrace the change.”.
As a co-employer, the PEO you choose will ultimately take responsibility for processing payroll, providing workers’ compensation insurance coverage, providing employee benefits and a host of other sensitive tasks. Assess financial strength and security.
A new study published in the Journal of Affective Disorders Reports sheds light on this issue, offering insights from patients diagnosed with Major Depressive Disorder (MDD) who have experienced antidepressant treatment. The authors write: “The 852 patients currently using ADs reported current use of 1178 ADs (mean: 1.4
After studying Sociology at the University of Cambridge, she joined the Solutions Journalism Network, where she helps other journalists rigorously report on what’s working to solve today’s biggest problems. Insurance companies are beginning to see the preventative health benefits. Not so much.
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.
According to a report from Sun Life Financial, the number of patients with claims that exceeded $1 million grew from 104 to 194 between 2014 and 2017, reflecting a 87% growth rate. Regardless of the cause, self-funded employers are bearing the financial burden, either directly or through increasing premiums for stop-loss insurance.
According to the Society of Human Resource Management (SHRM) 2019 Employee Benefits Survey , 79 percent of employers reported offering an EAP.). Your EAP provider should give you regular usage reports covering a specified time period – each month, quarter or year, for example.
A report from the Employee Benefit Research Institute (EBRI) and Greenwald & Associates highlights the behavior and attitudes of health care consumers with high deductible health plans (HDHPs). Nearly 30% of those in an HDHP had a household income of $150,000 or more, compared to 17% of enrollees in more traditional health plans.
Small businesses that can provide big-company benefits, such as affordable employee health insurance, will have a leg up on the competition when it comes to decision time for these hard-to-find employees.
Every two years, Anthem publishes their Integrated Health Care Report , which explores how integrating data from medical, pharmacy, and ancillary plans can enhance population health clinical programs. Since Anthem began this research project in 2014, integrated health care has been on the rise.
Payroll costs generally include payments for: Salary, wages and commissions Payment of cash tips or equivalent Covered leave Separation allowances Group health care benefits, including insurance premiums Retirement benefits State or local taxes assessed on employee compensation.
Not only are the billing details confusing, but the requirements for insurance coverage seem to be in a constant state of flux. It can seem as though insurers intentionally create a painful process in the hope that most patients will give up and just pay. The patient is not responsible.
Lower health insurance premiums? Research over the years has offered conflicting reports on whether wellness programs actually reduce insurance and workers’ compensation claims. What’s in it for companies that devote time and money to workplace wellness programs? Happier, healthier employees?
We organize all of the trending information in your field so you don't have to. Join 5,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content