The ever-rising cost of healthcare, particularly the hefty price tag associated with prescription drugs, has become a nationwide platitude. Both companies and employees alike in this country have almost come to accept rising prices as an inevitable feature of a healthcare system too obtuse and too opaque to fully comprehend, let alone master. One key strategy to controlling … [Read more...]
A Bitter Pill: Controlling the High Cost of Prescription Drug Plans
Small Firms Feel the Pinch First The impact of high prescription drug costs is no joke for small business owners. Many feel that the seemingly exorbitant prices for pills charged by drug companies have presented them with something of a devil’s dilemma: either accept spiraling costs, cut benefits to their employees, or cobble together some lose-lose combination of the two. Smaller businesses, … [Read more...]
Determining ‘Affordability’ Under Obamacare
As of 2015, employers are required under the Affordable Care Act (ACA) to offer so-called “affordable” health care insurance options to all full-time employees who work an average of 30 hours per week over a defined period of time. Naturally, two questions immediately crop up for affected small businesses: “What exactly does ‘affordable’ healthcare mean?” And: “How can I ensure that I am meeting … [Read more...]
Top 5 ACA Concerns for Small Businesses in 2016
2016 is coming, which means that many small businesses are scrambling to make sense of the Affordable Care Act (ACA) and prepare to comply with its numerous complicated and complex stipulations. According to a survey completed by PricewaterhouseCooper on how employers are planning to comply with the new ACA requirements, following are some common concerns businesses are raising about … [Read more...]
5 Questions for Your Outsourcing Provider Regarding ACA Compliance
Due to a series of landmark decisions by the Supreme Court in recent years, the Affordable Care Act (ACA) appears at least for now to be here to stay. While companies find the rules and regulations of the ACA complex and confusing, the question of compliance is a consistent and legitimate concern amongst business owners. The concern over compliance is so pervasive that many companies are turning … [Read more...]
Concerned About ACA Compliance?
Business owners large and small are turning to PEOs to ensure compliance with the ACA come 2016. Due to a series of landmark decisions by the Supreme Court in recent years, the Affordable Care Act (ACA) appears to be here to stay. While companies find the rules and regulations of the ACA complex and confusing, the question of compliance is a consistent and legitimate concern … [Read more...]
3 Critical Truths Every Business Needs to Know About Switching PEOs
The following three tips could potentially save your business lots of time and money. Timing is Everything In the PEO industry, timing can be everything. Much of the core workload for a PEO is administrative, and HR duties such as payroll and managing employee benefits require more attention towards the end of the year. Therefore, if you’re a company looking to make a PEO change by January, … [Read more...]
Are You In An Ideal PEO Arrangement?
7 questions you should ask about your current PEO-client contract There are over 700 PEOs operating in the United States alone. Every day, PEOs operating in every industry imaginable are helping businesses of every size imaginable streamline their operations, cut costs, and secure better benefits for their employees. PEOs partner with thousands of businesses and employ millions of … [Read more...]
The Best Time to Shop for A PEO
Like any business arrangement, PEO and client co-employment relationships are subject to change. For some client companies, that may be a simple redefinition of the terms. For others, it may mean completely dumping their old PEO for a new one. In both cases, business owners often have one question: When should I make a change? Unfortunately, the answer to that question isn’t necessarily … [Read more...]
Here Come the Mega-Mergers
How will the merger of health insurance giants Aetna and Humana affect consumers? Critics and industry analysts struggle to form a consensus view on the impact these new mega-deals will have on the health insurance marketplace. The mega-merger of two of the nation’s biggest health insurance companies heralds an era of consolidation in the health insurance marketplace. Of course, Aetna and … [Read more...]