Benefits Articles

Human Resources professionals all over the U.S. are engaging in a hasty scramble to comply with the COBRA subsidy regulations recently signed into law. The intent of this temporary relief is to make healthcare more accessible in these difficult times. Since most Americans have health insurance through their employer, loss of a job can have disastrous consequences. The high premiums for continued coverage are simply out of reach for many people - especially once they lose their primary income source.

Starting a wellness program in the workplace is a worthy endeavor.  However, this employee benefit is so new that the rules are still being hammered out.  There are several overlapping government regulations that deal with these initiatives.  It is important to understand the impact each one has on your planning and implementation.  Here are some of the DOL and related HIPAA guidelines you should be aware of before you start structuring a health awareness program.  

Many corporations are getting on board with wellness programs designed to keep employees healthy and happy.  The success of these initiatives depends on appropriate planning, funding, and implementation.  During the planning phase, employers have to decide what the focus will be.  If the budget is limited, it is especially important to select the most effective and beneficial ideas.  Below are several areas that can have the greatest positive impact for workers.

A Medical Flexible Spending Account is one of those benefits that can end up being complicated to explain.  In the simplest terms, an employee authorizes pre-tax payroll deductions to be set aside in an account administered by the employer.  These funds may be used by the employee for medical, dental, and vision related expenses. 

Consider some of the challenges that organizations face today. Economic fears and rapid change have pushed many businesses to the breaking point, and the media has rebranded corporations as the enemy – while employee trust is at an all-time low.

All of this uncertainty and anguish can cultivate a negative working environment, and the impact of low morale and reduced productivity can damage even the most stable organization.

The good news is that there is a way to prevent this from happening to your company.

A 401(k) benefits package offers employees the chance to save for retirement through tax deferred payroll deductions.  Such a plan is administered by a fiduciary (a person entrusted with managing funds).  This might be your company's CFO or a third party provider that specializes in managing employee retirement plans.   The fiduciary makes decisions regarding how the assets will be handled from one year to the next.  There are many different ways to set up a 401(k) plan and the options provided may change over time.

How can you tell, at a glance, whether an organization is being run effectively and successfully?The answer is simple, check the HR manager’s work diary. Do they spend most of their day reacting, dealing with employee issues and cleaning up the fallout from bad communication? Or are their calendars filled with opportunities to communicate proactively to the employee population, to help keep the problems from developing in the first place?

Dealing with employees who need to take FMLA leave can be time consuming and difficult.  Prolonged or intermittent absences place a strain on other coworkers and disrupt the normal flow of work.  However, this type of leave is designed for use in situations where the worker or a family member is seriously ill or otherwise in need of care. 

Many employees are unfamiliar with the extent of their company paid benefits.  Communication is the key to correcting this lack of awareness.  People can’t appreciate what they don’t know about, so create an education program designed to boost morale.  Don’t save this important topic just for open enrollment.  Keep your staff up to date on any changes or special events throughout the year via email and posters as well.  Here are a few easy ways to get the word out about your company’s perks.

For many HR professionals, open enrollment is dreaded almost as much as tax season.  First you have to meet with insurance reps to wade through any changes in your company’s benefit plans/providers.  Then you have to choose the best way to run your presentation, make sure every employee shows up to the meetings, and get the stacks of forms filled out.  Following up on all the incorrectly completed applications, unsigned documents, last minute changes, and absent workers is another chore.