Health Savings Accounts (HSAs) are a great way to save money on medical expenses by setting aside income on a pre-tax basis. For many Millennials, taking advantage of HSA funds is the perfect way to plan for unexpected medical costs while maintaining financial flexibility. For Millennials with student loan debt and a history of low […]
Leaders cannot succeed without a strong team behind them. This is true whether your company is a startup with one employee who is relying on a few outside advisors or the CEO of a large company with thousands of employees. The key to team-building is to leave your ego at the door and accept that […]
Paperless payroll is a paper-free payroll process that has become hugely popular in recent years. But despite the groundswell of support for paperless payroll solutions, employers should examine the details before making the switch. Six pros of paperless payroll Electronic storage — Stores payroll documents on your computer, eliminating clutter and making payroll documents easier […]
The IRS defines fringe benefits as “a form of pay (including property, services, cash or cash equivalent) in addition to stated pay for the performance of services.” They include: Medical, dental and vision insurance. Disability insurance. Life insurance. 401(k) matching. Paid holidays. Paid vacation, sick and/or personal time off. Wellness programs. Transportation benefits. Pet insurance. […]
It is well-known that the Affordable Care Act (ACA) imposes strict penalties on employers who fail to comply with its requirements. Annual penalties for incorrect or late filing and plan compliance can be devastating, and the penalties are increasing. With higher penalties and aggressive IRS enforcement of ACA mandates in 2019, it is more important […]
According to a 2018 report by the Harvard Business Review, 51 percent of survey respondents said that outdated or insufficient technology is obstructing their ability to retain top talent. Further, 58 percent said that a company’s technology is a factor for job candidates when deciding where they want to work. This report highlights the direct […]
Generally, an employer can ask employees for a doctor’s note when they take time off because of an illness. But it’s important to consider the laws governing doctors’ notes before making them a requirement. The Health Insurance Portability and Accountability Act Privacy Rule Under HIPAA’s Privacy Rule, an employer can ask employees for a doctor’s […]
HR outsourcing could be the answer for your company’s growth. Human resource departments have their hands full with recruitment, employee relations, and managing benefit plans. Ensuring compliance with the ever growing list of government regulations can be complicated, time consuming, and carry severe noncompliance penalties. Thankfully, BASIC is a third party administrator that offers solutions […]
Employers know an attractive benefits package is important to entice and retain high quality job candidates. For businesses evaluating which benefits to offer, a Flexible Spending Account (FSA) plan can be a cost-effective way to provide value for both employers and employees. What is an FSA? An FSA is an employer-owned savings account where employees […]
You can view the recording for this ICHRA webinar at this link. You can view our entire webinar library at this link. DATE: Thu, Oct 03, 2019 TIME: 2:00 pm EDT to 3:30 pm EDT Register for this webinar here. After registering, you will receive a confirmation email containing information about joining the webinar. Request a […]
