Coronavirus COVID-19 has scared everyone and changed the way businesses operate — including sick leave policies. The coronavirus, and COVID-19, the disease caused by the virus, can be easily transmitted by people who often are just mildly ill or not showing any symptoms. The virus originated in the Huanan seafood wholesale market in Wuhan, China...
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Going Beyond Term Insurance Minimums
How to improve life insurance benefits for employees. According to the U.S. Bureau of Labor Statistics, 60 percent of non-government employees have access to employer-provided life insurance, and 98 percent of employees who have access to plans take advantage of them. The low cost of the coverage for both employers and employees is one reason...
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How to Stay in Compliance When Employees Work Remotely
As telecommuting continues to gain popularity with it comes a new set of compliance challenges for businesses. Telecommuting occurs when employees do some or all of their work away from the company’s main office. Computers, laptops and cell phones, and the availability of high-speed internet connections and secure servers, make working from home, hotels, airports,...
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Ways to Make Childcare Costs a Little More Affordable
Childcare can be an employee’s most expensive work-related expense. Fortunately, there is a benefit program you can offer that will at least provide tax relief to employees who use daycare providers. The program is the Dependent Care Assistance Program (DCAP). If you can’t offer a DCAP, employees also can use the Dependent Care Tax Credit...
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What a Single Payer Health Care System Could Mean to You and Your Employees
Many of the contenders for the Democratic presidential nomination are making expanded health care access part of their campaign. With proposals ranging from eliminating private health insurance to expanding existing public programs, it’s clear that some form of single-payer health care will be a big part of the Democrats’ 2020 policy platform. Single-payer health care...
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Ten Ways Employees Benefit from Using Employer Health Benefit Portals
It’s not enough to give your employees the right health plan if they don’t understand it. An online employee portal or self-service site can help — if employees are motivated to use it. You put a lot of time, effort and money into choosing and purchasing the right health benefit plans for your employees. However,...
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Stepping into Lower Drug Costs
Step therapy can save money but some say there can be a downside. One way to keep your health benefit plan’s overall costs lower is to encourage employees to choose generic drugs whenever possible. The U. S. healthcare system saved $1.68 trillion from 2005 to 2014 by using generic drugs, according to the IMS Institute...
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Making a 401(k) Plan a Reality for Your Employees
A 401(k) Retirement plan is one of the most desirable and valuable benefits you can provide your employees. Having an employee retirement plan shows you care about their future and helps employees create a nest egg for a comfortable retirement. It’s also an expected benefit. According to the Society for Human Resource Management (SHRM), 94...
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Pharmacogenomics: Better Health and Cost Savings
Drugs are formulated for normal physiology. Physicians with knowledge of a person’s unique genetic makeup can better determine which drugs will be most effective. Anyone who has watched a commercial for a prescription medication expects to hear a disclaimer warning of potential health hazards. Possible side effects — depending on the medication — can range...
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Equipment Breakdown Insurance Provides More than Just Insurance
If you’ve been in business a while, you might have heard the phrase “boiler and machinery insurance.” Today it’s called Equipment Breakdown insurance and these now cover much more than boilers and machinery, hence the name change. Read on to learn more about this valuable coverage. Insurers introduced boiler and machinery coverage in the mid-1800s...
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