New rules regarding non-discrimination and "highly compensated" employees prohibit discrimination in favor of employees concerning their eligibility to participate or benefits provided. New regulations adhere to IRS Code Section 105(h). Self-insured plans are already subject to this section of regulations.*
Highly compensated employees include employees who are:
Problems could arise if provisions in group health plans discriminate between employees based on:
Having high employee turnover is never a good thing, whether it's because of negative company culture, a bad hire, or it's typical of the job environment or industry - it costs businesses big bucks to fire and hire employees frequently.
A 2012 study by The Center for American Progress (CAP) assessed the significant cost of replacing employees.
Employees earning $30,000 a year or less can cost 16 percent of their annual salary. Turnover could cost up to $4,800. [5 percent raise (at the top of the salary range) = $1,500]
Employees earning $50,000 a year or less can cost 20 percent of their annual salary. Turnover could cost up to $10,000. [5 percent raise (at the top of the salary range) = $2,500]
Employees earning $75,000 a year or less can cost 20 percent of their annual salary. Turnover could cost up to $15,000. [5 percent raise (at the top of the salary range) = $3,750]
Rescission - a cancellation or discontinuance of coverage that takes effect retroactively (from a date in the past).
The new healthcare reform laws set federal standards for canceling healthcare coverage for individual and group health plans. State laws must meet the minimum standards enacted by the PPACA. If state laws exceed federal standards, state law prevails.
Coverage may not be rescinded retroactively EXCEPT in these cases:
Did you know that before the 20th century, healthcare was virtually nonexistent? Or that the push for national healthcare reform stretches farther into the past than just the PPACA? The last 115 years have brought significant advancements in medical care and technology, resulting in increased costs, requiring more innovative and efficient means of providing healthcare to more people. This is only one of many reasons for the ever-changing structure of the U.S. healthcare system.
Learning about the history of American healthcare and how it has evolved into what we know today is a key part of understanding our current system so we can be prepared to join the discussion for future reform.
If you haven't worked with a recruiter before, here are a few things you should know.
Final regulations published by the Department of Labor, Health and Human Services and the Treasury define a waiting period as "the period of time that must pass before coverage for an employee or dependent who is otherwise eligible to enroll under the terms of a group health plan can become effective."
Employers can impose conditions on group health plan eligibility, including full-time status, eligible job classification, job-related licensure, completion of an orientation period, etc.
Final regulations which become effective August 25, 2014, apply to plan years beginning on or after January 1, 2015. The regulations state that if the completion of a "reasonable and bona fide employment-based orientation period" is a condition for group health plan eligibility, the orientation period cannot exceed one month.
Lunch break. Also referred to as a “meal period.” Generally lasts at least 30 minutes and is not considered paid work time.
There are no federal laws requiring employers to offer lunch breaks. Policies and laws vary between states and companies.
Typically (but not always), working more than five to six hours warrants a 30 minute break. The hours in which a lunch break is taken matter- some companies prefer employees not take lunch breaks within the first two and last two hours of the day.
The Supreme Court recently ruled to exempt "religious employers" from providing employee group health coverage for birth control. The ruling has focused attention on ACA- mandated group health coverage for women's preventive health services.
As long as the services are performed by healthcare professionals participating in the plan's provider network, all Marketplace plans are required to cover the following:
The founding of the United States can be attributed to many, but the Founding Fathers were certainly critical to its success. To them we owe many of the freedoms and liberties we enjoy today. Perhaps you've heard the accounts shared below or maybe you haven't, but take a moment to reflect on the sacrifices these men made to make America the amazing country it is today.
It's tough to stay on top of changing technology now-a-days, add on running a business and it's near impossible. But maybe there's a solution to both of those problems: apps! There are tons of apps you can use on your mobile devices and tablets that can help you run your business more efficiently. We've chosen a few of the top apps and listed them below.
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