Broker Development

Employers Who Want More Productive Workplaces Should Examine Benefits Options

Posted by on Apr 17, 2013 in Broker Development, Employee Benefit Program | 0 comments

  Recent research shows that only 40 percent of workers in the United States would highly recommend their employers’ workplaces as good locations for employment. In addition to this, the study showed that those who did recommend their employers were more likely to be satisfied with the workplace benefits offered to them. The study also found that 60 percent of workers who recommended their places of employment said that benefits were important reasons why they continued working for the same employers. More than 50 percent of respondents said they were willing to pay more for...

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What Employers Everywhere Need to Know About the New Form I-9

Posted by on Apr 11, 2013 in Broker Development, Employee Benefit Program | 0 comments

  U.S. Citizenship and Immigration Services released a revised version of the I-9 form for general use. Every employer must complete a Form I-9 when they hire new employees. Some recent improvements to the form include a reformatted structure to minimize errors, clearer instructions and new fields. Some of the new fields include spaces for email addresses and employees’ foreign passport information. With the new and improved instructions, employees and employers will be able to better understand exactly what information should be entered in each section. The new form will span two...

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Important Medicare Changes for 2013

Posted by on Feb 21, 2013 in Broker Development, Employee Benefit Program | 0 comments

  With the advent of the year 2013, the Medicare funding system is affected by two major pieces of legislation: The Patient Protection and the Affordable Care Act, part of which took effect as of January 1; and the Taxpayer Relief Act of 2012, which was passed on January 2nd, 2013. This was the tax deal that Congress struck to avoid the so-called ‘fiscal cliff’ – at least temporarily. The two laws mean a number of changes to Medicare – none of them good from the taxpayers’ perspective The major changes are as follows: The payroll tax holiday expires, as a result...

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Is It Better To Pay The PPACA Penalty Or Continue Offering Health Coverage?

Posted by on Feb 5, 2013 in Broker Development, Employee Benefit Program, Health | 0 comments

  When 2014 arrives, employers and their workers must be prepared for the changes the Patient Protection and Affordable Care Act brings. New laws will require employers with a workforce larger than 50 employees to either pay a penalty or offer medical coverage to employees. This is why it is important for employers to start making their plans as quickly as possible. Many employers have reported that this new law will increase their expenses, which will result in the need to reduce workers’ hours or lay off employees. Many employers are favoring the idea of eliminating their health...

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IRS Introduces New W-2 Reporting Requirements

Posted by on Jan 30, 2013 in Broker Development, Human Resources | 0 comments

  Beginning with the 2013 batch of W-2 forms, the Internal Revenue Service is introducing a new series of reporting requirements. Pursuant to the Patient Protection and Affordable Care Act of 2010, employers must include the following information in Box 12 on their W-2 forms to the employee and to the IRS: Major medical plan coverage Flexible Savings Account values for the plan year (in excess of Section 125 salary reduction contributions). Employer-funded or salary-reduction plans from hospital indemnity plans Coverage for domestic partners (if included in gross income) If you charge a...

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Employers Responding to the Lure of Private Health Insurance Exchanges

Posted by on Jan 29, 2013 in Broker Development, Employee Benefit Program, Health, News | 0 comments

  Large companies are increasingly exploring the use of private health insurance exchanges as a means of controlling costs, according to a number of HR industry observers. Under a private insurance exchange arrangement, an employer privately contracts with one or more insurance carriers, each competing for the business by discounting insurance premiums for members of the group. In turn, the employer then provides each employee with a certain number of dollars with which they can buy coverage listed on the private exchange. This arrangement may offer some large employers the twin benefits of...

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