Age Discrimination: The Economic Toll

Posted by Matt Schwartz on Mon, Sep 27, 2021 @ 09:09 AM

Age discrimination – specifically the practice of hiring younger workers in favor of older ones – is a growing problem in the United States and across Europe. Ageism makes less and less economic sense as birth rates go down and the world’s population ages. However, this form of discrimination earns the least public condemnation.

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Topics: Employee Benefits, Company Culture, Employee Engagement, Business Strategy

Webinar: Considerations for Employers Handling COVID Vaccine Mandates

Posted by Matt Schwartz on Thu, Sep 23, 2021 @ 11:09 AM

Tuesday, October 12, 2021
2:00 p.m. Eastern

President Biden’s administration recently announced its Path Out of the Pandemic action plan. The action plan calls for employers with 100 or more employees to require employees to be vaccinated or submit to weekly tests, as well as requiring vaccinations for federal employees, contractors, and hospitals receiving federal financial assistance.

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Topics: Employee Benefits, Learning Events, COVID-19

Medicare Part D Notice Due by October 14, 2021

Posted by Matt Schwartz on Mon, Sep 13, 2021 @ 09:09 AM

The Center for Medicare/Medicaid Service (CMS) requires employers to provide an annual “Notice of Creditable Coverage” to all Medicare-eligible employees and their beneficiaries, or ALL employees if you do not track Medicare-eligibility, before October 15 of this year.

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Topics: Compliance Issues, Employee Benefits

Wisdom Workplace Webinar: Funding Group Health Insurance Plans, Managing Risk and Controlling Costs

Posted by Matt Schwartz on Wed, Sep 1, 2021 @ 10:09 AM

Tuesday, September 7, 2021
1:00 p.m. Central time

Many employers are familiar with traditional fully-insured arrangements, but there are many other funding methods in the health insurance market. This webinar will provide an overview of the ways employers can fund their group health insurance plans.

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Topics: Employee Benefits, Learning Events

Webinar: Best Practices for Handling IRS ACA Penalty Letters

Posted by Matt Schwartz on Fri, Aug 27, 2021 @ 11:08 AM

Tuesday, September 14, 2021
2:00 p.m. Eastern

The Affordable Care Act requires that applicable large employers (ALEs) provide minimum essential coverage to eligible employees, which is enforced by the IRS based on information reported in IRS Forms 1094 and 1095. In response to Form filings, the IRS may issue Letter 226J, which is an initial penalty letter assessing liability for the Employer Shared Responsibility Payment (ESRP).

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Topics: Compliance Issues, Affordable Care Act, Employee Benefits, Learning Events

Five Facts About Critical Illness Insurance

Posted by Matt Schwartz on Tue, Aug 24, 2021 @ 09:08 AM

As pointed out in an Employee Benefit News article, critical illness insurance has been around for three decades, but it’s still growing and evolving to meet the ever-changing needs of employees.

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Topics: Employee Benefits, Personal Insurance

Why You Might Want to Offer Employees a 401(k) Option

Posted by Matt Schwartz on Thu, Aug 19, 2021 @ 11:08 AM

An article on business.org points out that many businesses choose to offer a retirement plan, and not just for their employees’ advantage. With a 401(k), an employee is allowed to deposit a percentage of their income into an account, and quite often an employer will also contribute to a worker’s 401(k). There are obvious benefits for employees, but this retirement plan could provide advantages for your company as well.

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Topics: Employee Benefits, Employee Engagement, Business Strategy

Tips for Attracting More Gen Z Workers

Posted by Matt Schwartz on Tue, Aug 10, 2021 @ 09:08 AM

Individuals born after 1996 are undeniably tech-savvy. More than any other generation, they realize how a workplace can be transformed by utilizing technology.

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Topics: Employee Benefits, Employee Engagement, Business Strategy

Compliance Recap - July 2021

Posted by Matt Schwartz on Wed, Aug 4, 2021 @ 10:08 AM

 

July 2021 was a quiet month in the benefits industry, largely due to the summer vacation season and the July 4th Independence Day holiday. Importantly, however, the U.S. Departments of Health and Human Services, Labor, and Treasury, along with the Office of Personnel Management, issued an interim final rule (IFR).

 

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Topics: Compliance Issues, Employee Benefits, COVID-19

DOL Requires Disclosure of Audio Recordings Under ERISA Claims Procedure

Posted by Matt Schwartz on Mon, Aug 2, 2021 @ 09:08 AM

The Department of Labor (DOL) recently issued Information Letter 06-14-2021 in which the DOL opined that audio recordings of a conversation between a participant and plan representative, and transcripts of the recordings, are subject to disclosure during the claims adjudication process under ERISA Section 503.

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Topics: Compliance Issues, Employee Benefits