The Dynamics of an Aging Workforce
Many employers are wary about hiring or even maintaining a primarily aging workforce at their organization despite many possible benefits. Because of the concerns surrounding this talent-management issue, employers must consider the full range of economic implications of an aging workforce, including both cost and productivity factors. Click here to read Employer Considerations Issue of our Risk Management newsletter.
Concerns About Wage-and-Hour Lawsuits
Wage-and-hour lawsuits have been a rising threat over the past decade. According to the Department of Labor many hourly workers are not being given basic rights. They also estimate that over 80 per cent of employers are not in compliance with the applicable law. Class action lawsuits are not limited to hourly employees and companies employing salaried professionals have also been targeted.
Most insurers providing coverage under Employment Practices policies have excluded coverage or provide limited defense benefits under their form. Insurers have long regarded wage-and-hour liability claims an uninsurable risk because the incidences are perceived as resulting from deliberate and illegal acts, as opposed to negligence. Click here to read the article.
Data Security Issues Escalate as Risk Management Evolves
Data security is a widespread problem for companies across-the-board. Any entity with a presence on the Internet, with sensitive data on servers connected to the Internet, or transmitting data such as credit card payments, is exposed to this risk. Today, this covers just about all businesses and other organizations, right down to the mom-and-pop shops performing credit card transactions. As data gets passed around at increasing rates, the liability of data breaches escalates with it. Click here to continue.
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| Property and Casualty Updates |
Purchase Proper Watercraft Coverage for Your New Boat
Spring is often the time of year when boat lovers start to consider purchasing a sailboat or powerboat. Many people, however, are unaware of the significant loss exposures associated with boat ownership, and some people mistakenly believe there is enough coverage available under their personal auto policy (PAP). Click here to continue.
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| Legislative/Regulatory Updates |
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Health Care Reform Overview
We are pleased to provide a summary and overview of the recently passed Health Care Reform legislation. While there is much that we do know at this time, the size and scope of this legislation is significant, and there are many issues that will need to be clarified over the next several months. We have summarized many of the key provisions in an attempt to help you understand the changes that will occur and how it will affect you, your employees and your business. You can be certain that we will continue to provide you with updates and further clarifications as they become available, and that we remain available to you for any questions you may have.
New HIRE Act Offers Employer Payroll Tax Break
The Hiring Incentives to Restore Employment Act (HIRE Act), estimated to cost about $18 billion, had bounced back and forth between the House and Senate during the past month. Often referred to as a job stimulus bill, the HIRE Act provides a payroll tax break to employers who hire unemployed workers after February 3, 2010, through the end of 2010. The tax break applies to wages paid with respect to employment on the day after the HIRE Act becomes law. Click here to read Infinisource's examination of the bill.
IRS Provides Q&A on Small Business Health Care Tax Credit
The new health reform law gives a tax credit to certain small employers that provide health care coverage to their employees, effective with tax years beginning in 2010. The attached Q&A provides information on the credit as it applies for 2010-2013, including information on transition relief for 2010.
Reform Takes a Bite Out of Flexible Spending Accounts
In 2013, the new health-reform law will limit the amount you can sock away in a flexible spending account (FSA) for health expenses to $2,500 a year, with annual increases reflecting cost-of-living adjustments. Today, on average, only a third of people offered FSAs contribute to them at all and some employers already impose even lower caps on FSAs, which allow workers to pay for qualified health expenses with pretax dollars. Click here to continue.
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Big Decision Ahead
Employers viewing the enactment of health care reform legislation as an opportunity to drop health coverage and escape a huge financial burden may want to rethink that idea, experts stay. Click here to continue. The hidden costs of dropping their health care plans could far outweigh the fine that employers would face for not offering the coverage. Click hereto continue.
Dental Programs Make the 'Mouth-Body Connection'
By enrolling more than 600,000 pregnant women, heart disease patients and others in a special intervention program, Aetna, for example, hopes to show that medical costs can be undercut by attacking gum disease earlier and more aggressively. Click hereto continue.
Spreading the Word on Polypharmacy
We all have a lot to learn. And not just about our insurance plan or what benefits are offered but about taking ownership of our health and of our treatment for any diagnosis. Click hereto continue.
The Eyes Have It
As employers strain to emerge from the economic doldrums, vision benefits may come into focus for those who want to keep health care costs down by providing another avenue toward preventive care. Employers that see the forest for the trees recognize the importance of providing access to routine eye check-ups, while those that don't could find themselves clouded by lost productivity and expensive health care claims. Click hereto continue.
Most Workers Woefully Unprepared for Retirement
Twenty-seven percent of employees have less than $1,000 in savings, according to the Employee Benefit Research Institute's annual retirement survey. More than half of respondents say their total value of household savings and investments is less than $25,000. The survey results present a strong case for automatically enrolling participants in plans and automatically escalating contribution rates. Click hereto continue. |
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Aetna Global Benefits: Healthcare NewsClick here to read a report on healthcare issues around the world. |
