U.S. employment plummeted last month in the first decline since 2010, offering an initial look at the widespread devastation the coronavirus pandemic has already begun to wreak on the once-strong labor market. Payrolls fell 701,000 from the prior month — compared with the median forecast of economists for a 100,000 decline — according to Labor […]
With all the focus on the surge in U.S. layoffs, it’s easy to forget that there’s a silent job killer lurking in the background. Hiring freezes such as that reported by American Express mean that the take-up of workers is falling rapidly. How quickly companies ramp hiring back up will be a large factor in […]
Having a secure digital space for storing important documents is becoming commonplace as our digital world expands. Ensuring proper accessibility and security is especially important in the event of someone’s passing, to make sure that people who will be affected are aware of the arrangements beforehand. Everplans, a financial services company, offers a platform that […]
There’s something to be said for living with mom and dad. In fact, more and more young adults are opting to do just that thanks to things like student loan debt and high rents. Yet, there comes a time when they need to strike out on their own and become financially independent. Stephanie Einseberg is working towards […]
If you’re not keeping remote employees engaged, you’re doing yourself a disservice, because disengaged employees cost organizations yearly $550 billion in productivity losses. Worse, workers that are psychologically unattached and who put time, not passion into their work, make 2.5 less revenue. Keeping remote staff satisfied is not something that comes naturally to most businesses. In fact, […]
The IRS Thursday published finalized rules loosening restrictions on health reimbursement arrangements, allowing employers to significantly expand the use of such accounts and make them a much bigger part of employers’ healthcare offerings. Beginning in January 2020, employers will be able to use individual coverage HRAs to provide employees with pre-tax funds to pay for […]
It’s no secret the IRS has been actively enforcing the Affordable Care Act’s Employer Mandate. To date, the IRS has identified a total of 49,259 employers that did not comply with the ACA for the 2015 tax year alone. So far, that’s more than 30,000 Letter 226J tax notices that have been issued with penalty assessments for more than […]
There has been a lot of talk about the future of the Affordable Care Act (ACA). With the midterm elections coming soon, Americans have stated that healthcare is top priority. For many health insurance companies, the ACA also has been top of mind as they struggled with the changes in the law that made it more challenging for them […]
The Trump Administration issued the Short-Term, Limited-Duration Insurance Final Rule that expands the coverage length of “short-term, limited-duration insurance” policies under the Patient Protection and Affordable Care Act. The Final Rule allows individuals to buy short-term insurance policies for coverage periods of up to 12 months — four times the length of the previous three-month cap — […]
The Department of Labor in June loosened association health plan regulations, aiming to make it easier for employers to form AHPs and, in turn, make it easier for employers and self-employed individuals to join the resulting AHPs. Before finalizing the AHP regulations, the DOL reports that it received approximately 900 public comments on its initially proposed regulations. […]
