In his State of the Union address, President Barack Obama promised to “streamline child care tax incentives” to help 5.1 million families. But his proposal could jeopardize dependent care savings accounts, a benefit valued by millions. Around the same time as the State of the Union address, the U.S. Bureau of Labor Statistics released a...
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FLMA Leave Benefits Now Apply to Employees in Same-Sex Marriages
In February, the U.S. Labor Department updated the Family and Medical Leave Act’s (FMLA) definition of spouse. This extends the benefits under the FMLA to workers in legal same-sex marriages, regardless of where they live. The Department of Labor’s rule change updates the FMLA so the law complies with the U.S. Supreme Court ruling in...
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Caregiving: It’s Not Just For Children Anymore
A record 57 million Americans — or nearly one in five people in the U.S. — live in multigenerational households, according to the Pew Research Center. Some of this growth is due to adult children moving back home, but more and more elders are moving in with their children. In 2012, 22.7 percent of adults...
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Four Tips For Selecting the Right TPA
Administering payroll, benefits, time and attendance cost mid-sized employers $2,000 per employee annually, according to a 2011 PricewaterhouseCoopers study. Commissioned for payroll provider ADP, the study found that large employers typically paid a bit less, at $1,400 per employee per year. It’s no wonder that many employers turn to third-party administrators. Some employers choose to...
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How to Be a Better Benefits Buyer
Employers spend thousands per employee on health insurance plans. Yet few check the quality of their plan before buying. When you want to buy a car or appliance or hire a contractor, you can check Consumer Reports and Angie’s List for quality ratings. Few would argue that using rating services such as these can save...
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Basic COBRA Administration, Part 1
COBRA, the Consolidated Omnibus Budget Reconciliation Act of 1985, allows qualifying people formerly covered by an employer’s group plan and their dependents to temporarily continue health coverage at group rates. Employers who don’t understand basic COBRA administration and their obligations can face penalties. Certain employer-sponsored health plans must offer COBRA continuation coverage to employees who...
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Do Christmas bonuses get taxed?
At year end, many employers like to reward their employees. What you do could affect your taxation and that of your employees. Here are a few basics to keep in mind. Cash bonuses Rewarding high achievers can help retain them and raise the bar on other employees. Employers can deduct amounts they pay as employee...
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Your Employees Want Education
Only one-third of working adults rated their employer’s benefits education as excellent or very good in a recent survey. With open enrollments coming, how does your benefits education program measure up? The survey, conducted by insurance company Unum, also found that benefits education correlates to employee satisfaction. Among the employees who rated their benefits education...
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Employee Benefits for an Aging Workforce
Researchers predict that one-third of the U.S. workforce will be age 50 or older by 2016. (Heidkampe, Mabe & DeGraaf, 2012). By 2050, the U.S. Census Bureau predicts that workers age 65 and older will make up 19 percent of the total U.S. workforce. Mature workers offer companies many advantages: experience, commitment and a strong...
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Employee Assistance Programs
EAPs can co-exist with employer health plans under the Affordable Care Act. Here’s what you need to know about employee assistance programs. An employee assistance program, properly implemented, can provide a significant return on investment and can help you raise the productivity of your workforce, lower absenteeism rates, reduce accidents and help resolve workplace conflicts...
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