Human Resources

Understanding How HIPAA Affects Availability of Health Information to Other Parties

Posted by on Mar 20, 2013 in Human Resources | 0 comments

  In 1996, Congress passed the Health Insurance Portability and Accountability Act, which is commonly referred to as HIPAA. This act outlines who has lawful access to a person’s health records. Under the act, a person has a guaranteed provision to his or her own health information. However, it does set limits on the release and use of medical data. It also outlines several privacy standards for healthcare professionals. Every person has the right to know how his or her digital data is stored and used. Before they share or release any medical data about a specific patient to a third...

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Estate Taxes for 2013 and Beyond

Posted by on Mar 13, 2013 in Human Resources, Income Protection, News | 0 comments

  The dust has finally settled – for the moment. And Congress has stabilized the estate tax situation, which has been in a state of uncertainty since the so-called “Bush Tax Cuts” formally expired in 2010. The deal is this: The worst-case scenario in which all estates north of $1 million would have been hit with a confiscatory 55 percent tax on the excess was averted. That’s great news for anyone with a good sized home, a small business or family farm and/or a decent-sized retirement fund. Instead, lawmakers came up with a top tax rate on estates of 35 percent,...

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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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20 States Opting Out of Health Insurance Exchanges. What Now?

Posted by on Jan 15, 2013 in Employee Benefit Program, Health, Human Resources | 0 comments

  Any small business owner who’s landed a big sale knows the feeling: The good news is, we got the contract! The bad news is, we got the contract! That’s what the Obama Administration is confronting now that we are deep into the implementation phase of the Affordable Care Act. For a while, there was some wiggle room: Mitt Romney promised to repeal the Act if he could get the votes in the Senate. And for a while it looked like he might win. But the election went to Obama, and so there was no avoiding the issue: The Affordable Care Act requires that health insurance...

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Employee Benefit Enrollment Software

Posted by on Dec 4, 2012 in Broker Development, Employee Benefit Program, Human Resources | 0 comments

As anyone with more than a handful of employees knows, enrollment and management of employee benefits is a frequently tedious, time consuming process. Between the constant fight to remain in compliance with HIPAA and other federal and state laws, open-enrollment periods that can keep HR professionals tied up for weeks at a time, and the usual demands of hires, fires and COBRA issues, you have a major man-hours project on your hands. While good HR is vital, these hours invested don’t represent direct revenue to the company. Anything you can do to streamline your HR operation while still...

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Promoting Wellness to Combat Absenteeism

Posted by on Nov 23, 2012 in Human Resources | 0 comments

The Zombie apocalypse is upon us, it’s real, and it costs employers billions, studies show. But the Zombies aren’t taking the form of the undead rising from the grave in a quest to consume the living. Instead, it’s taking the form of exhausted, sick, injured or demoralized employees showing up to work, but for whatever reason not performing to their full productivity potential. That’s the conclusion of a new study out of Brigham Young University, which concluded that when it comes to damage to employers, the cost ratio of presenteeism versus absenteeism is as three is...

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