Employee Benefit Guidance & Compliance Solutions

Posts Tagged "HR"

Medicare Eligibility: Who pays first?

By on Dec 2, 2020 in Human Resources, Notices | 0 comments

Message to Employers with employees for whom Medicare is the primary payer PF Compass wants you to know some important rules for your Medicare-eligible employees. Eligible members are encouraged to enroll in Medicare in order to maximize their health plan benefits and minimize expenses. If your employer has an employee headcount of twenty or more employees, a commercial health plan is the primary payer. If your employer has an employee headcount of under twenty employees, Medicare is the primary payer. It’s important for eligible members to enroll in Medicare Once a member is eligible for Medicare as their primary payor, and if they are not enrolled in Medicare, health plans will coordinate benefits with their group coverage and pay benefits as though they were enrolled in Medicare Part B. This means that benefits will be paid by subtracting the amount that Medicare would have paid (usually 80 percent of the Medicare rate) and paying only the remaining balance of the claim as if the member had enrolled in Medicare Part B. As a result, members will be responsible for the amount that their health plan did not pay in addition to any applicable copayments, coinsurance, and deductibles. This process is described in the group’s benefit plan documents as Medicare Primary and/or Medicare as Secondary Payer. Wrapping it Up PF Compass can help you understand more through our free PDF document which contains a chart outlining who pays first, Medicare, or health plans. We at PF Compass are dedicated to helping employers and employees alike. We treat everyone with the same top of the line industry standard regardless of employee size. That’s why we have been New Jersey’s top employee benefits brokerage for 25 years plus. If you are interested in learning more, please feel free to contact us for an obligation-free phone call! PF Compass works with clients who primarily reside up and down the Eastern Corridor. We work with all types of businesses, large and small, across a wide range of industries. Over the years we have created a reputation of providing quality group benefits and unmatched service for all our clients. As a result, we are proud to say that many of our clients have become loyal...

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Everything to know about COBRA Compliance

By on Oct 28, 2020 in COBRA | 0 comments

COBRA compliance is a complex process in which many businesses struggle. Many companies are intimidated by the intensive manuals and the strict timelines that come with COBRA compliance. The most effective tool while proceeding with COBRA compliance is knowledge and understanding of the process. In this post, we wanted to lay out the ground rules and basics for COBRA compliance. But, of course, you can streamline the process by contacting us for a COBRA administration consultation that would take care of everything for you! The Basics If you are an employer that holds over 20 employees, federal law requires, and some states as well, that you continue medical care coverage to employees that have separated from the company. There are however a number of things that must be considered to determine who is eligible and what they are to receive exactly. COBRA stands for the Consolidated Omnibus Budget Reconciliation Act, which was enacted in 1985. According to the act, coverage must be continued for 18-36 months for those eligible and depending on the circumstances of the change in employment. Penalties involved The last thing that you want to see is an invoice charged by the IRS for $110 per day. The worst part is, that the fee is per each qualified beneficiary who did not receive coverage. COBRA penalties can be extensive, that’s why it’s imperative to stay in compliance! Keep in mind that potential penalties do not include the possibility of a lawsuit and legal representation. If the IRS also learns that non-compliance continued after their notice, the minimum tax levied is $2,500. That’s why it’s preferable to have experts guide you on the subject, such as the team here at PF Compass! Number of Employees When counting how many employees an organization employs, part-time employees must also be factored into the equation. Each part-time employee must be considered as a fraction of a full-time employee. You must also factor in the number of hours they work as well. This means that a mix of part-time and full-time employees could very well equate to you having to offer COBRA. Take precautions into noting that some states have COBRA similar laws that may enforce the same regulations for organizations...

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Romantic Relationships in the Workplace

By on Sep 1, 2019 in Human Resources | 0 comments

Romantic Relationships in the Workplace by Maggie Johnson     When two people spend a lot of time together, a romantic relationship may develop between them.  In a recent survey by Namely, 40 percent of the survey’s participants indicated that they’d had a romantic relationship with a co-worker, with five percent of them having had a romantic relationship with their boss or a direct report.   A 2017 CareerBuilder study showed 41 percent of professionals have dated a co-worker with 30 percent of office romances resulting in marriage.  While a blooming romance may be a happy thing, in the workplace, it can spell big trouble!  For a couple working alongside each other, and who are engaged in a romantic relationship, here are just three issues that could spring from that situation: Office gossip and some teasing of the couple may seem harmless at first, but could lead to detrimental consequences.  These include negatively affecting employee morale, false and reckless statements about the couple, unprofessional behavior, and a host of other concerns.  This only gets more unpleasant if the romance breaks up, with one of the former lovebirds feeling wronged; then, employees “take sides.”   Before you know it, the workplace could suffer from undesirable conflicts with work affected and productivity taking a nosedive! An office romance between a supervisor and his or her direct report can be career-busting for the boss!  The supervisor’s other subordinates may see favoritism; where it might not exist, nevertheless, may result in employees’ claims of disparate treatment and unfairness.  Because of the unevenness of power between a boss and the subordinate, the romance could easily be interpreted as the supervisor’s coercion of his romantic partner and cause allegations of a hostile work environment, sexual harassment, and worse! Even if an office affair begins with a consensual relationship, it can still end up in court with claims of sexual harassment.  As examples, in both Gerald v. Univ. of Puerto Rico and Green v. Administrators of the Tulane Educational Fund, a consensual sexual relationship occurred between the supervisor and subordinate.  In both cases, after the relationships ended, the subordinates were subjected to continued sexual harassment by their supervisors, and in both cases, the courts found for the subordinate...

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Onboarding – A Key to Retention!

By on Jul 5, 2019 in Human Resources | 0 comments

Onboarding – A Key to Retention! By Maggie Johnson     If you think onboarding consists of new employees completing documents such I-9 and W-4 forms, among others, on their first day of employment, you may be missing the value a robust onboarding process can bring to your organization. Onboarding can be the key to increased employee engagement, higher productivity and lower turnover. After spending considerable time, effort and, most likely, dollars recruiting the right person to join your organization, it makes sense to make every effort to effectively assimilate that employee into your company for a mutually successful outcome. According to Work Institute’s 2019 Retention Report, there are 150 million people currently working in the US, that’s more than ever before. In 2018, 41.4 million US workers voluntarily left their jobs. National employee voluntary turnover was over 27%. The cost of voluntary turnover is estimated to exceed $600 billion. A report on onboarding by Urban Bound stated the following statistics:   Without Onboarding Companies lose 25% of all new employees within one year As much as 20% of staff turnover occurs within the first six weeks of employment It takes 8 – 12 months for new employees to gain proficiency With Onboarding 50% greater retention of employees 34% faster for new employees to gain proficiency It’s hard to retain employees, but you can increase your chances of keeping them by starting them out right! How? Based on the above statistics, the answer may be through a well-executed onboarding program. Here are some suggestions:   Reach Out to New Employees Before Their First Day of Work Send them information about the company Give them a call Send a simple “Welcome” email letting them know how excited you are that they will join your team On the First Day of Work Make sure your new employees meet everyone on the team and others who they might work with on a regular basis Make sure their desk is set up with a supply of tools they’ll need to do their job Give them a tour of the work premises Take them to lunch Send an announcement to the company about their hire Match them up with a Work Buddy/Mentor Assign a...

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