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On March 11, 2021, President Biden signed the American Rescue Plan Act (ARPA) into law. This law includes provisions that impact employers. Most notably, it includes a new COBRA subsidy. Employers should learn all they can about this subsidy and how it might affect their business. ARPA Requires Employers to Cover the Costs of COBRA […]
COVID-19 has changed the way many of us live and work. Throughout the past year, unemployment rates have skyrocketed. Caused by forced closures and stay-at-home-orders, several businesses around the U.S. have had to reduce staff or permanently close their doors. According to the Department of Labor, over 48 million Americans applied for Unemployment Insurance within […]
Employers often find it difficult to manage their healthcare expenses. Unfortunately, fluctuating prescription drug prices can make this process even more complicated. According to Statista, Americans spent 358.7 billion dollars on prescription drugs in 2020. This was an increase of 13 billion dollars from the previous year. Prescription drug spending makes up 10% of national […]
Companies spend a lot of money on employee benefits. A recent report released by the U.S. Bureau of Labor Statistics found that benefits accounted for 29.8 percent of employer costs. While most employers understand the importance of offering benefits, many aren’t sure how to go about finding the best options for their business. Unfortunately, employers […]
According to Upwork, an American freelancing platform, 41.8% of the American workforce currently works from home. It’s estimated that around 26.7% of these remote workers will not return to the office this year. By 2025, it’s expected that 36.2 million Americans, or 22% of the entire American workforce will be working from home. This represents […]
Businesses spend a lot of money each year. While business owners have transparency of what they spend on goods and services, this isn’t typically true for healthcare. This is a problem as healthcare represents the second largest expense after payroll for most U.S. businesses. Another issue, most leaders have very little say when it comes […]
Every year, employers around the country must file Forms 1095-B and 1095-C with the IRS and send copies to their employees. Part of the Patient Protection and Affordable Care Act (PPACA), sometimes referred to as the ACA or Obamacare, employers with 50 or more full-time or full-time equivalent (FTE) employees and all self-insured employers must […]
Most people experience stress at work at some point in their career. While some stress can be beneficial, possibly improving performance and health, too much stress can decrease productivity and cause anxiety and health problems. It’s important that employers encourage employees to communicate issues and take necessary steps to keep their stress level in check. […]
The right benefits package can help employers attract more candidates. Companies that offer benefits experience lower employee turnover, have healthier and happier employees, and get to take advantage of tax credits and deductions. While large organizations can offer comprehensive benefits packages, smaller companies and start-ups have to be more selective. When choosing which benefits to […]
Throughout 2020, COVID-19 caused major changes to the way that people go about their daily lives. For employers, COVID-19 has created major challenges. In addition to stay-at-home orders forcing employees to work from home, leave due to illness has become a recurring problem since returning to the office. In an effort to reduce the transmission […]