A health insurance exchange is basically a virtual health insurance marketplace that is intended to create a more organized and competitive market for buying health insurance. Under the Patient Protection and Affordable Care Act (PPACA), states are encouraged, but not required to set up a state-based exchange. However, if they fail to do so, the federal government will step in to help facilitate an exchange in the state.
One of the perks of many organizations is the benefits that companies provide to their employees to encourage employee loyalty, as well to make the employer an attractive, competitive place to work. However, a tricky area for any employer is to designate when employees may take their vacation time. It certainly may help the employer in effectively managing time and workplace attendance; however, it can also lead to employee frustration if they are mandated to take vacation only during specific times during the year.
Employee Handbook – It is not a bad idea to have an HR Professional review your handbook annually for compliance issues. Also, if there are any policies that you would like to edit, the beginning of the year makes for a clean break for new policy implementation. If you do not have a handbook, the first of the year is the perfect time to create and implement one into your organization.
Healthcare costs are consistently listed as one of the greatest concerns facing business owners and employees in America today. If you are an owner of a small business (roughly 5-200 employees) who offers a group plan, it is one of your largest expenses. And you likely find yourself at a crossroad: You need to offer high quality healthcare benefits to attract and retain talent, yet it’s difficult to provide high quality coverage due to costs increasing at 10-30%+ year after year…which might then force you to “weaken” your plan, ultimately resulting in decreased participation and lower employee engagement/retention. So what do you do?