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VantagePoint Waives New COBRA Administration Fees for 6 Months* Furloughs, layoffs, and COBRA rules Did you know? When the carriers revert to their eligibility minimum this creates a COBRA event. If a furloughed employee is ultimately discharged this creates a COBRA event. If a full-time employee returns on a part-time basis, this creates a COBRA …

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The Departments of Treasury and Labor, along with the IRS has created a time-frame extension affecting group health and welfare, disability, and pension plans due to COVID-19. These new rules apply for 60 days after the announced end of the declared National Emergency. This 60-day period is now called the ‘Outbreak Period’.

Benefit Enhancements OTC Pre-Tax Reimbursement Over-the-Counter Prescriptions (OTC) no longer need a physician’s prescription. This applies to Flexible Spending plans (FSA) or Health Saving Accounts (HSA). It can be retroactively applied on 1/1/2020. Adopting this will require adjustments to your Section 125 plan documents. If you are not familiar with a Section 125 document (they …

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Coronavirus Aid, Relief, and Economic Security (CARES) Act How does this law help my business? Expert Summary from the VantagePoint Team: While all the details are not out yet, we wanted to get this in your hands as soon as possible. Here is a summary of the programs

What is the impact on employee contributions, unemployment and employer obligation to pay? Insider Pro-Tips from the VantagePoint Team: Employee Contributions: Q:) If employee contributions are taken from pay to cover a portion of insurance premiums plans, how will this money be collected

Common Challenges for a Small Business It is a challenge to know which benefits plans are required for a small business and what benefits employees actually expect. Adding to the challenge, states have different requirements that are mandatory for employers of different sizes. Small businesses should work with a professional organization that can help them …

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Most employers are in the middle of their re-enrollment period right now, one of the busiest times of the year for HR departments. Although companies have made their benefit decisions for 2020, it is important to understand what other companies are offering in the competition for talent in order to help you recruit and retain …

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Companies often offer time off from work as a benefit of working for them. “Paid time off “is a company policy that generally covers vacation and sick time in a single allotment of time off for employees instead of having different allotments for different types of leave. Whether an employee is sick, needs time to …

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How do smaller employers compete with large companies that seem to be able to offer high salaries and a wide variety of benefits? All companies, no matter how big or small should design an employee benefits package that will appeal to their employee population and target employment market. There are endless options when it comes …

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  Burnout is becoming more common in the workplace. The World Health Organization has classified burnout as an occupational phenomenon, but more research is needed at this time to determine how burnout impacts employees’ mental health and wellbeing. While burnout can impact anyone in the workplace, millennials (those who were born between 1981 and 1996) …

Continue reading “What is Millennial Burnout Syndrome?”