|
Recession and layoffs lead to a greater risk of retaliation against employers |
|
Universal Benefit Plans Blog
|
By Universal Benefit Plans on
4/29/2009 9:51 AM
|
|
|
|
It’s no secret that our economy is in a recession and companies have either laid off or are continuing to lay off workers. A recent Fox TV Rasmussen Report showed that 77 percent of Americans know at least one person who has been laid off from their job and 12 percent of Americans know at least 10 people personally who have been laid off. Given all these layoffs, one thing that employers should keep in mind is the heightened risk of violent retaliations associated with a layoff and with involuntary terminations in general.
While there is no guarantee that a worker will retaliate violently against an employer after being terminated, there is always still a risk.
|
 |
|
|
More...
|
|
|
|
In 2009, retirement confidence hits an all time low |
|
Universal Benefit Plans Blog
|
By Universal Benefit Plans on
4/24/2009 8:18 AM
|
|
|
|
The percentage of respondents in the 19th annual Employee Benefits Research Institute (EBRI) Retirement Confidence Survey who reported that they were very confident in having enough money to retire comfortably has fallen to a record low of 13%. The most common reasons that workers today give for having such low levels of retirement confidence are economic uncertainty, inflation and the cost of living. The survey results have shown us several key findings.
|
|
|
|
|
More...
|
|
|
What employers and COBRA-payable entities need to keep track of for the IRS |
|
Universal Benefit Plans Blog
|
By Universal Benefit Plans on
4/22/2009 11:20 AM
|
|
|
|
One thing HR professionals know is that you need to document everything that’s regulated, and COBRA is highly regulated. As you may already know, the 65% of a former employee’s COBRA premium that you, the employer, pay to the insurance carrier up front is subsidized through a refund or reimbursement on the newly updated Form 941. But, in order for your company to actually get this reimbursement, the IRS requires you to maintain a considerable amount of supporting documentation.
|
|
|
|
|
More...
|
|
|
The COBRA Subsidy and the “MARRIAGE PENALTY” |
|
Universal Benefit Plans Blog
|
By Universal Benefit Plans on
4/15/2009 9:34 AM
|
|
|
|
Even before the ARRA Act went into effect this February and the federal COBRA subsidies began, it wasn’t always easy to follow what was, and was not, applicable to an individual and their family. To make matters more complicated, although COBRA is a federal law, some states, such as Massachusetts, have their own legislation that may or may not apply to a specific individual’s situation.
One example of an area that isn’t so easy to comprehend, but is vital to everyone, is the “Marriage Penalty.” Here’s the million-dollar question on this issue: If a married employee is laid off, and his or her spouse’s employer offers health insurance, is he or she still eligible for subsidized COBRA coverage with a former employer?
Under the ARRA Act, the answer to this question is NO.
|
|
|
|
|
More...
|
|
|
Changes in the Employee Eligibility Form--the I9--effective April 3, 2009 |
|
Universal Benefit Plans Blog
|
By Universal Benefit Plans on
4/10/2009 7:31 AM
|
|
|
|
As always, immigration is a hot topic for our government, and an even hotter topic for employers. The place where those two worlds first meet, on behalf of an employee, is on the “Employee Eligibility Form,” commonly known as the I9. In fact, most employers will not even interview potential candidates until this form and all of the necessary supporting documentation has been properly gathered and authenticated.
As you may already know, the I9 Form has recently been amended by the Department of Homeland Security (DHS). This amendment was published in an interim final rule entitled "Documents Acceptable for Employment Eligibility Verification,” in the Federal Register on December 17, 2008. On January 30, 2009, the United States Citize ...
|
|
|
|
|
More...
|
|
|
|
When is resignation "involuntary termination"? |
|
Universal Benefit Plans Blog
|
By Universal Benefit Plans on
4/3/2009 1:01 PM
|
|
|
|
For the purposes of the new ARRA Act COBRA subsidy, determining who qualifies as an Assistance Eligible Individual (AEI) due to an “involuntary termination” is a lot more complicated than many HR professionals think. That’s why the IRS released Notice 2009-27 on April 1, 2009 and included in it both a definition and further clarification of “involuntary termination” when dealing with the COBRA subsidy. With just two weeks left to notify all AEIs of the new COBRA subsidy, HR professionals must know w ...
|
|
|
|
|
More...
|
|
|
Federal Changes to Employee Benefits Under the ARRA Act |
|
Universal Benefit Plans Blog
|
By Universal Benefit Plans on
4/1/2009 11:07 AM
|
|
|
|
The many changes to benefits under the recent American Recovery and Reinvestment Act (ARRA) legislation are certainly complicated. For instance, there’s been an increase in the monthly statutory limit to commuter benefits, which has gotten very little attention in the media and risks being overlooked by many employers. Although employers and HR departments should be responsible for absorbing and disseminating ALL legislative changes and information, the reality of managing that – on top of countless other responsibilities – is difficult at best.
Having an insurance broker who expertly navigates all of these changes and relieves your company of countless hours of research – and possibly even takes ...
|
|
|
|
|
More...
|
|
|
Changes in COBRA Part 2--What Employers Need To Do |
|
Universal Benefit Plans Blog
|
By Universal Benefit Plans on
3/25/2009 9:39 AM
|
|
|
|
The new COBRA laws enacted in February will allow millions of Americans to keep their medical benefits, but they will also create an undeniable administrative burden for employers. Here’s a little background AND what has to happen for you to meet that burden and be sure that you’re in line with the new legislation.
On February 17th, 2009, President Obama signed the “American Recovery and Reinvestment Act (ARRA)” into law. “ARRA” provides a ...
|
|
|
|
|
More...
|
|