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Archive for the ‘Small Business’ Category

Should companies begin offering student-loan help to employees?

Monday, May 20th, 2019

Prairie Business reports:

“Yes! Student loan debt is one of the most difficult financial issues facing new grads. Rising costs of tuition/education can make it hard for new grads to get a start in life – whether it be buying their first home, purchasing a new vehicle or affording other key items or investments.

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Employer Shared Responsibility

Friday, February 27th, 2015

Generally, under Employer Shared Responsibility (ESR), applicable large employers (generally, employers with 50 or more full-time employees, including full-time equivalents) face a potential
penalty if they don’t offer minimum essential coverage to full-time employees and their child dependents that has both minimum value (company is paying at least 60 percent of covered health care expenses for a typical population) and is affordable (full-time employees cannot pay more than 9.5 percent of their income for the lowest-cost, self-only coverage). Employers with fewer than 50 full-time employees are not subject to ACA’s ESR provisions. For 2015, employers with between 50 and 99 full-time employees are exempt from the ESR penalty if the employer provides an appropriate certification and meets certain conditions.
In 2015, employers subject to the mandate must offer coverage to 70 percent of their full-time employees and child dependents  or risk penalties for failure to offer coverage to all full-time employees and child dependents. To avoid a penalty in 2016, employers subject to ACA’s ESR provisions must offer coverage to 95 percent of their full-time employees and child dependents.

Employers reducing spousal, family coverage

Wednesday, December 17th, 2014

Benefits Pro reports:

“The evidence continues to mount that mid-to-large corporations will fine-tune, but won’t abandon, employee health plans.

A Towers Watson survey of 379 companies in that size range found, among other trends, that companies believe in providing health coverage, but want to be able to predict the cost of coverage.

To accomplish both, they are gradually shifting some costs to employees, eliminating some benefits, such as spousal coverage, and encouraging their workers to take more ownership of their health coverage to share in the economic risk of providing coverage.

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Why Can’t Employers Pay For Employees To Go To The Exchanges?

Wednesday, December 17th, 2014

Health Insurance Exchange reports:

“On November 6, the Department of Labor issued FAQ Part 22, which directly addresses some recent efforts by employers to reimburse employees for participation in the exchange through Code Section 105, or through some type of other arrangement.  Here are the questions, with shortened answers.

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Small businesses helping workers buy health plans

Friday, October 17th, 2014

San Jose Mercury News reports:

“When Monty Hagler learned his employee insurance premiums could rise as much as 38 percent, the small business owner decided he couldn’t afford coverage that complies with the health care overhaul.

He considered a variety of plans from different carriers, but they were too expensive or bare-bones.

“Unless we dramatically changed our plan and went with the most basic plan, I said, ‘this is not sustainable,'” says Hagler, owner of RLF Communications, a Greensboro, North Carolina-based marketing company.

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