Employee Benefit Guidance & Compliance Solutions

Posts Tagged "newsletter"

Monthly Newsletter August 2019

By on Aug 1, 2019 in Newsletters | 0 comments

Dear Valued Clients and Associates, After a great day out this week, with a wonderful group of clients and associates, I realized summer is going by fast. What are your plans before school starts again and the warm days turn cool? The winter hiring and benefits season is going to be here before we know it! Offering a good employee benefits package can be a great tool for recruiting and retaining top talent. PF Compass works with all carriers and is a full-service benefits brokerage, advocating on behalf of employers and employees. We are committed to helping organizations, like yours, find creative solutions to their employee benefit goals while also helping to keep them in compliance with ever-changing regulations. We’d love to come meet you, learn about what is important to you and your organization and help you reach your benefit goals. Give me a call today 732-258-1032. Here is your August 2019 Newsletter with a combination of HR and Health related news. I hope you enjoy! All the best to your success, Brandi Bowers     Onboarding – A Key to Retention by Maggie Johnson, PF Compass 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. To read more about the importance of smooth onboarding, visit our BLOG here.     Executive Order on Health Costs to Affect Employer Health Plans President Donald Trump recently signed an executive order aimed at improving price and quality transparency in health care. The order is intended to increase availability of health care price and quality information and protect patients from surprise medical bills. What’s in the Order? Specifically, the order is aimed at: Eliminating unnecessary barriers to price and quality transparency Increasing the availability of meaningful price and quality information for patients Enhancing patients’ control over their own health care resources, including through tax-preferred medical accounts Protecting patients from surprise medical bills Employer Impact Within 120 days, the order directs the Treasury to issue guidance to expand access...

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Monthly Newsletter July 2019

By on Jul 1, 2019 in Newsletters | 0 comments

Dear Valued Clients and Associates, Wishing you a safe and enjoyable time celebrating our Country’s Independence this week. When was the last time you had someone other than your current Group Benefits Broker look at the Medical and Ancillary plans available for your organization? A second set of eyes is always a good business decision when it comes to one or your biggest Company expenses and staying compliant. Contact me now and I’d be happy to see if there are plans you haven’t been shown before, that would be a better fit for your goals. No obligation. Here is your July 2019 Newsletter with a combination of HR and Health related news. I hope you enjoy!     IRS Releases Inflation-adjusted Limits for HSAs and HDHPs for 2020 On May 28, 2019, the IRS released Revenue Procedure 2019-25 to announce the inflation-adjusted limits for health savings accounts (HSAs) and high deductible health plans (HDHPs) for 2020. These limits include: The maximum HSA contribution limit The minimum deductible amount for HDHPs The maximum out-of-pocket expense limit for HDHPs These limits vary based on whether an individual has self-only or family coverage under an HDHP. HSA Contribution Limits for 2020 The IRS limits for HSA contributions increase for 2020. Eligible individuals with self-only HDHP coverage will be able to contribute up to $3,550 for 2020, while eligible individuals with family HDHP coverage will be able to contribute up to $7,100 for 2020. The $1,000 catch-up contribution limit that applies to HSA-eligible individuals who are age 55 or older will remain unchanged. HDHP Cost-sharing Limits for 2020 For self-only coverage in 2020, the HDHP minimum deductible will increase to $1,400 and the out-of-pocket maximum will increase to $6,900. For family coverage, these limits will increase to $2,800 and $13,800, respectively. Action Steps Because these limits change for 2020, employers that sponsor these plans may need to make plan design changes for plan years beginning in 2020.     1 In 6 Insured Hospital Patients Get A Surprise Bill For Out-Of-Network Care by Rachel Bluth – Kaiser Health News On average, 16% of inpatient stays and 18% of emergency visits left a patient with at least one out-of-network charge, most of those came...

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Monthly Newsletter June 2019

By on Jun 1, 2019 in Newsletters | 0 comments

Dear Valued Clients and Associates, With so many hot topics to choose from, I’ve decided to use June to introduce a way for you to potentially put money back into your business with little efforts. “How is this possible?” you ask… Work Opportunity Tax Credits! To learn more, read the article below “How much did you overpay your taxes last year”. To all the Fathers, Grandfathers, Uncles, Brothers and Friends who nurture and love the children in their lives, I hope you have a wonderful FATHER’S DAY! Is your broker only around at renewal? Would you rather have service year-round? Give me a call or email me now to schedule a time to discuss your employee benefit goals and how we will work hard to ensure you and your employees are satisfied all year long. Here is your June 2019 Newsletter with a combination of HR and Health related news. I hope you enjoy!     Medical Marijuana In The Workplace – Update for New Jersey Employers by Maggie Johnson Recreational marijuana use is not yet legalized in New Jersey or New York despite recent attempts by each state’s legislators to do so. However, recreational marijuana use, if legalized, would not necessarily present a problem for employers. As a comparison, alcohol is legal, but employers have the right to prohibit its consumption during working hours and in the workplace. Surely, the same rule would apply to recreational marijuana. But what about medical marijuana? To read more, visit the PF Compass Blog Here. NYC Employers Also Take Note: New York City Bans Pre-Employment Marijuana Screening The law contains additional exceptions for certain federal contracts and federal, state and local drug-testing requirements in the areas of transportation and safety and security. Click Here for more.     New Jersey’s Minimum Wage Increase Begins July 1, 2019 On February 4, 2019, Gov. Phil Murphy signed A-15, which sets New Jersey on the path to raise the minimum wage to $15 by 2024. The new law raises the minimum wage in increments, increasing the wage to $10 per hour on July 1, 2019 and to $11 on January 1, 2020. To read more, click here.     Final Notice of Benefit and Payment...

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Monthly Newsletter May 2019

By on May 1, 2019 in Newsletters | 0 comments

Dear Valued Clients and Associates, Happy May! To all the Mothers, Grandmothers, Aunts, Sisters and Friends who nurture and love the children in their lives, whether they gave birth to them or not, I hope you had a wonderful MOTHER’S DAY! Please give me a call or contact me now to schedule a time to discuss your employee benefit goals and how we will work hard to ensure you and your employees are satisfied. Here is your May 2019 Newsletter with a combination of HR and Health related news. I hope you enjoy! If you would like to make suggestions on how I can improve this newsletter, please email me!     Parts of AHP Final Rule Are Struck Down by Federal Court On March 28, 2019, a federal judge ruled that parts of the Trump administration’s 2018 final rule on association health plans (AHPs) were invalid. The court directed the Department of Labor (DOL) to reconsider how the remaining provisions of the final rule are affected. In its ruling, the court stated that the final rule was an “end-run” around the ACA and that the DOL exceeded its authority under ERISA. The court specifically struck down two parts of the rule: The provision defining “employer” to include associations of disparate employers The provision expanding membership in these associations to include working owners without employees Employers and business owners without employees that have joined an AHP, or are considering doing so, should review how their plans may be affected by the court’s ruling.     Why One Plant May Be Fueling the Spread of Lyme Disease ColonialPest.com According to the CDC, Lyme disease is the fastest growing vector-borne, infectious disease in the United States. Ever heard of a Japanese barberry plant? It’s a small shrub, common in home and commercial landscaping. It is also a non-native invasive species. We actually just removed the one we had in back yard. Acres of it grow wild in the tri-state woods. Deer avoid it. Ticks, however, do not. To read more, click here.     Creative and Compliant Ways to Check References SHM.org Make the candidate part of the process. Reference checking is a necessary evil of the hiring process, but it’s...

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Monthly Newsletter April 2019

By on Apr 1, 2019 in Newsletters | 0 comments

Dear Valued Clients and Associates, I am very excited that the warm weather is starting to make its way into the area! My fig tree already has around 20 figs, daffodils and tulips are popping up everywhere and my chickens are so happy with all the worms and insects the rain is bringing to the surface for them. What’s more exciting than the arrival of spring? The clients we have been able to help, already this year, by creating benefit offerings that align with their goals and save them money off their bottom line! I am incredibly grateful for the opportunities I have been given so far in 2019 and to you for your support. If we haven’t had the opportunity to meet yet, let’s get a time on the calendar… Who knows, maybe we will be able to help your organization too! Give me a call or contact me now to schedule a time to discuss your organizational goals and how we will work hard to ensure you and your employees are satisfied. Here is your April 2019 Newsletter with a combination of HR and Health related news. I hope you enjoy!     Dress Code Policies – Time for Change? By: Maggie Johnson, PF Compass in-house HR Consultant In theory, a dress code policy for the workplace could simply consist of two words—Dress Appropriately! However, it seems that employers feel compelled to write policies containing long lists of what and what not to wear in the workplace. Since a vast number of companies have adopted business-casual guidelines for the workplace, isn’t it time to lighten up on rigid dress code policies? In March this year, as reported by the Washington Post (March 21, 2019), even Goldman Sachs, known for its immaculately business-clothed company representatives, officially changed its dress code policy to a “firm-wide flexible dress code.” To read more about this topic, visit our BLOG here     New Jersey Updates, Expands Family and Disability Benefits New Jersey has updated and aligned four state leave laws to work together more seamlessly, extended its paid family leave benefit to 12 weeks in a 12-month period, and increased wage replacement amounts in its paid leave programs. Many key changes...

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