How many times have you asked an employee about his or her stress level only to get the response that they are too busy to be stressed? Whether overworked, overstressed, or a combination of the two, employees keep putting off taking a day off to relax and recharge.
There’s no denying it. The vast majority of workers won’t be ready financially for retirement. Seventy percent are behind schedule in saving for retirement and half of all Americans have less than $10,000 in savings. Of immediate importance is the fact that nearly half of the oldest boomers are at risk of not having sufficient retirement resources to pay for basic retirement and healthcare costs!
On July 22, 2014, two Courts of Appeals issued decisions that address whether only people who live in states that have state-run Marketplaces (which are also called exchanges) are eligible to receive premium tax credits or subsidies under the Patient Protection and Affordable Care Act (PPACA).
As was the case last year, insurers with medical loss ratios (MLRs) that were below the prescribed levels on their blocks of business must issue rebates to policyholders. Insurers must pay rebates owed on calendar year 2013 experience by August 1, 2014. The rules for calculating and distributing these rebates are largely the same this year as they were last year.
The Patient Protection and Affordable Care Act (PPACA) continues to phase in. Many plan design requirements took effect in 2014 for both large and small plans. This next year will bring employer-shared responsibility ("play or pay") requirements for larger employers. PPACA has also affected the notices employers need to give as part of the open enrollment process and it affects COBRA.
BYOD stands for bring-your-own-device and it’s a concept that’s gaining in popularity among most major companies, especially those that allow telecommuting. Most employer policies on BYOD cover productivity and ensuring the employees are using the right laptops, tablets, smart phones and relevant software to perform necessary tasks.
With all of the recent changes flowing from PPACA, it is important not to forget some very basic and long-standing aspects of plan compliance, design, drafting and administration, particularly those rooted in significant part in a law enacted 40 years ago, the Employee Retirement Income Security Act, also known as “ERISA.”
The Department of Labor has published a new model COBRA general notice and a new model COBRA election notice. The new model notices reflect that coverage is available in the public health insurance exchanges, i.e., the “Marketplace,” and include information on special enrollment rights in the Marketplace.
Does your company have employees who are tired of the daily grind that is commute to the office, perform duties with coworkers, and then commute home? Have you considered just how badly they may want to work from home — or from any location for that matter? Maybe these employees are willing to work longer hours for the same salary or are willing to take a cut in pay.
During the month of June, rules and decisions that potentially affect some or all group health plans were issued by the regulatory agencies and the Supreme Court of the United States.
Understanding the Wage and Hour Laws
Tuesday, July 8, 2014
2:00 p.m. ET / 11:00 a.m. PT
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