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Why offer a cafeteria plan?

When it comes to attracting and hiring the best talent in today’s competitive economy, benefits packages can be the great equalizer. But compensation packages are eating up more and more of employers’ bottom lines, not to mention the increasing compliance and legal headaches. For employers looking for ways to squeeze the most out of their benefits packages without breaking the bank, cafeteria plans may prove to be a smart option.

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Tagged Employee Benefits

New overtime exemption rules are imminent: Is your business prepared?

We have received many questions over the past few months about the Department of Labor (DOL)’s anticipated revisions to the overtime exemption regulations of the Fair Labor Standards Act (FLSA). In June 2015, the Obama administration announced that the DOL will propose extending overtime pay to nearly 5 million workers by increasing the salary levels for “white collar” exemptions. The changes are now pending as the DOL submitted its final rule to the White House’s Office of Management and Budget (OMB) back in March for review.

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Tagged Employee Benefits

May is Disability Insurance Awareness Month: Is your most important asset protected?

Did you know that approximately every seven seconds, a working age American suffers a disabling injury or illness that will last for at least a month? Or that a 20-year-old entering the workforce today has a 1 in 4 chance of suffering some type of income-interrupting disability during their working career? Over 37 million Americans are classified as disabled, or about 12 percent of the population, and more than 50 percent of the disabled are in their working years, between ages 18 and 64.

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Tagged Employee Benefits

Three keys to reducing your workers’ compensation claim frequency

When your workers’ compensation insurance carrier is calculating your premiums, one of the biggest factors they look at is your experience modification rating. That’s the rating the National Council on Compensation Insurance (NCCI) calculates by comparing your claims history to other companies in your industry, and by comparing your actual losses with expected losses.

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Tagged Business Insurance

Should your business have terrorism insurance?

The terrorist attacks of September 11, 2001, were a game changer for businesses in the U.S. In a few tragic moments, it became clear that our businesses are just as vulnerable to man-made disasters as they are to natural disasters. Those attacks resulted in an estimated $40 billion in insured losses.

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Tagged Business Insurance

COBRA: Still relevant after all these years

Since the passage of the Affordable Care Act (ACA), we’ve seen a whirlwind of change in the health care and health insurance landscape here in the U.S., ushering in a whole new era of options and regulatory issues for both employers and employees.

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Tagged Health Care Reform, Employee Benefits

Renter’s insurance: Your lifeline back to normal

A three-alarm fire injures one tenant and destroys 10 units in a Dallas apartment complex. A two-alarm fire destroys a southwest Houston apartment complex. Twelve units are damaged in a Mesquite apartment fire. And a four-alarm fire damages multiple units at an apartment complex in northwest Dallas.

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Tagged Home & Auto

Avoid employment practices liability with legal background checks

One of the biggest challenges you face as an employer is finding and keeping great employees. In fact, the ability to attract and retain talent can be the deciding factor in whether you reach your business goals or fall short of your company vision.

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Tagged Business Insurance

Reminder of 2016 ACA reporting deadlines

As a reminder, the due dates for IRS reporting under the ACA are as follows: Forms 1095-B and 1095-C must be furnished to individuals no later than March 31, 2016. Filing the 2015 Forms 1094-B, 1095-B, 1094-C and 1095-C with the IRS must be completed no later than May 31, 2016, if not filing electronically, and June 30, 2016, if filing electronically. 

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Tagged Health Care Reform

Business interruption insurance: A lifeline to recovery

It’s a nightmare scenario for any business owner. Mother Nature cooks up a monster hailstorm, tornado or wildfire and puts your business squarely in the path of destruction. If you’re lucky, you’ll come through unscathed or with minor damage so you can patch up and move on.

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Tagged Business Insurance